What does a bay view add to the value of a condo in Miami/Coconut Grove?

Asked by Peter Couihan, Sat Feb 28, 2009

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4
Manon Mohamm…, Agent, Coral Gables, FL
Sat Feb 28, 2009
Peter,
thank you for your inquiry.
Bay or water view units are, in general, in higher demand than street view or garden view units. I am currently working with a buyer who will only consider bay view units. It is difficult to put an exact price/added vaule on a unit with water view. There are many factors that influence a sale price, such as size, upgrades, location, general condition of the unit, number of parking spaces, amenities, age of the building and many more. It is advisable to check for recent sales in the building and examine also the terms and conditions of the sale.
My name is Manon Mohammady, I am a Broker-Associate with Coldwell Banker in Coral Gables. Please visit my web site http://www.ManonMohammady.com to learn more about me and the way I conduct business.
If you have any questions or concerns, please feel free to contact me.
Kindest regards,
Manon
1 vote
David Siddons…, Agent, Miami, FL
Tue Jun 24, 2014
Hi Peter,

I constantly have blogs on Coconut Grove that answer these kinds of questions:

In My 2014 Investors Guide to Miami Real Estate I answer this question:
http://luxlifemiamiblog.com/invest-in-miami/coconut-grove/

Also read on Coconut Grove:
http://luxlifemiamiblog.com/category/coconut-grove/
http://luxlifemiamiblog.com/2014/06/11/coconut-grove-waterfr…

For more information call me 305 508 0899

David Siddons
0 votes
Jill Penman, Agent, Coral Gables, FL
Wed Sep 4, 2013
Compared to 2009 a waterfront view in Coconut Grove comes with a much higher price tag! It depends on the building, amenities and finishes of course.
0 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Sun Mar 1, 2009
Peter~

Just as Manon put it, it is extremely difficult to place an exact value for the view of the Bay. Certainly value is added! From my experience the added value could be anywhere from 10%-30% over a SIMILAR size and type with an inferior exposure. Many variables come into the picture; High or Low Floor, General Demand, Market Conditions, Location, Etc.
0 votes
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