There was some brisk activity this past week considering the inventory is near record lows. Most of the activity was in the South of 5th neighborhood with a record sale at the Yacht Club at Portofino. A total of 14 condos soldÂ .
Â Â Â Portofino TowerUnit 1105 - 3BR 2.5BTH
$1.937M or $828.10/s.f.
Which is a very healthy figure considering unit 1505 sold at $797.97/ s.f. just 4 months ago. Portofino is still a little ways away from consistently breaking that $1000/ s.f. mark but it's certainly within reach.
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Unit 1207 - 2BR 2.5BTH
$1.81M / $1254.33/ s.f.
That's a very healthy number and the purchase price was over asking price by $15,000. The 2 bedrooms are sellingÂ at anÂ excellent ratio but they're not exploding in value like the larger 3 and 4 BR's. (1600-1800/ s.f.)The Flats Off Lincoln
Unit 3 2BR 2.5BTH
$1.049M or $420.27/s.f.
If you've been over to the Yardbird Southern Table & Bar you've probably noticed a new development 'The Flats Off Lincoln' at 1520 Lenox. This 3 unit full floor living building sold their final unit this past week. Just around the corner from Lincoln Rd. this development is a welcome addition to South Beach.
South Pointe Tower
Unit 1205 2 BD 2 BTH
Unit 1501Â 2 BD 2 BTH
Both are good figuresÂ for this older development. Penthouse 2402 closed a month prior at $1225/s.f. ($1.225M)Â and PH2408 just closed on 3/15 for $1238/s.f. ($3.443M)
The Yacht Club at Portofino*
Unit 2104 2BD 2BTH
$829,000 / $760.29
*This is believed to be their highest price per square foot closing for a 2BR. The previous high was in 2008. Unit 2602 which sold for $800,000 or $707.96/s.f.
The Waverly South Beach
At The Waverly sold for a moderate $457,500 or $422/s.f.. It's a good figure considering the low floor and lack of an excellent bay or ocean view.
Unit 1012 Sold for $335,000 with a great view, standard interior. $415/s.f.
A unit at the Meridian Condos at 2001 Meridian sold for $370,000 or $30,000 over asking price. $383/s.f.
Flamingo South BeachÂ
$290,000. 389.26/s.f. - 1BR
South Bay ClubÂ
South Bay Club, which is undergoing a major renovation had a 1BR (202)Â sell for $206,000 or 210/s.f.
820 Euclid - 1BR without parking (782 s.f) sold for $173,000
1400 Pennsylvania - 1BR with parking (650 s.f.) sold for $155,000
359 Meridian - A studio (440 s.f.) sold for $126,500