There’s a brand new tower that will be going up in beautiful Sunny Isles Beach very soon. The tower will include 250-feet of beachfront, and will be at the southern end of Sunny Isles very close to Haulover Beach Park. This is a 99-acre urban park located in metropolitan Miami just a short distance north of popular Bal Harbour. The name of this new tower is the Ritz-Carlton Residences Sunny Isles, which is a name that should be familiar to many. Quite a few buyers are already scrambling and trying to get in on the action. The residences promise to be quite beautiful, and they will have excellent views of the ocean, Miami Beach, and Downtown Miami.
The preconstruction for the condos is already underway, and they’ve already started to sell. The price of the units varies based on a number of factors, including size. The condos with two bedrooms are starting at $2.2 million, while the ones with four bedrooms are selling for $5.4 million. In addition, the tower will be home to five large penthouses, and the price for these will be substantially higher.
The demand for these units, particularly internationally, is great, and they are being sold in waves. The first phase prices are actually between 5% and 10% less than the final listing price which will be announced when the sales center opens. This gives more incentive for those buyers who have the inside track to make their purchase as early as possible.
Who Is Buying?
People from many different countries are buying up property in the area. Many of the buyers in Sunny Isles are actually from South America, Europe, and Asia. Quite a few are actually from China. However, that’s not to say that the domestic sales are slow at all. In fact, Sunny Isles has a large number of buyers who are from the New York area and who are looking for some great property right on the beach. New Yorkers are finding that even though the Miami prices are getting higher, they are still a very good deal compared with the prices in NYC. In addition, you get more for your money in Miami.
Preconstruction investment is a good idea for many buyers who have an interest in the property. Not only will they find that the prices are cheaper, they will also find that they have equity in the property instantly, and that they can receive more incentives from the developer. Ultimately, it can lead to the creation of a better building.
Quite a few different preconstruction developments in the area are getting attention as well. Some other examples of hot properties include Turnberry Ocean Club and the Estates at Acqualina. With so many choices, it’s time that potential buyers started to look at all of the different options in the area to see what might be available for them. These properties in Sunny Isles are luxury through and through, and could make wonderful homes for those looking for permanent residences, as well as those who are looking for investment properties.