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Real Estate Advice

Thursday, April 18, 2013

Berkley South has a new listing! It is with pleasure that I bring you 5k, a two bedroom, two bathroom condominium listed for $275,000. Within 1100 square feet of interior space, is a sunny condominium with views of the Intracoastal, Ocean, and beautiful city of Fort Lauderdale. It has southern exposure and is on the fifth floor, and has recently been completely renovated. Kitchen renovations include an expanded open layout, custom cabinetry, top of the line stainless steel appliances, and a large granite counter breakfast bar. Other updates include 20” porcelain flooring in living areas, custom granite vanity and retiled guest shower, and hurricane impact glass installations on all openings. This home is move- in ready and in one of the best locations in Fort Lauderdale. Monthly maintenance is $644 and includes reserve funding, insurance, basic cable, and more. This residence is one of the best values in the building with superior upgrades, which says a great deal considering the limited inventory and desirability of Berkley South.

Berkley South is steps from the white sandy beaches of Fort Lauderdale, and conveniently located on A1A south of the famed Galt Miracle Mile in the Central Beach Alliance Neighborhood. Berkley South has 199 residences with studio, one, and two bedroom floorplans. While the building was built in 1975, in the last three years it has undergone extensive renovations including resurfaced tennis courts, new elevators, balcony restorations, parking and garage restoration, designer lobby renovations, and a state of the art clubroom kitchen renovation. Some of the other highly desirable amenities include heated freshwater pool on a 40,000 square foot deck, fitness facilities, billiards room, BBQ area, extra storage spaces, bike and kayak storage, 24 hour security, management staff on premises, and underground parking for all residents. The building is pet friendly and allows leasing within the first year of occupancy, making it ideal for those looking to invest as well.

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Thursday, April 11, 2013

The Corinthian on the Intracoastal, a 23-story luxury building, is one of the most active condominiums in the Fort Lauderdale Waterfront Real Estate Marketplace. It is within the family of buildings built by Gesco, Inc., and the architecture was by Oscar Handle, and the interior of The Corinthian was designed by Jack Sell and Son. While the original building was built in 1975 and the color was pale blue with green tint and brown accents, the current colors are brown and beige, with plans to repaint the building with more appealing colors in 2014. Last year the building completed 3 major projects: the rooftop deck, the library and the beautifully renovated lobby. What makes a condominium like this so unique and sought after is the direct unobstructed water views from every apartment, each with its own unique location, characteristics, and view Each apartment is designed as an east-to-west flow through with a large private terrace overlooking the Sunrise Intracoastal Waterway, with washer/dryer in every unit, marble baths, floor to ceiling window walls, and semi-private foyers and elevators. The modern amenities that make this building so competitive with more recently built condominiums are the rooftop heated fresh water pool (sun all day long), a nicely appointed clubhouse with full kitchen facilities for entertaining, men’s and women’s sauna, 3 room fitness center on the penthouse level, 24 hour security and covered parking.

In 2012, with so much market activity, The Corinthian witnessed a flurry of sales, and with the inventory drastically reduced, it is with pleasure that I am introducing my newest listing, residence 7E. This residence is completely remodeled in a contemporary fashion and with every imaginable amenity and upgrade. 7E has two bedrooms and two baths within 1,610 spacious square feet. Its location on the 7th floor directly facing the water and protected Bonnet Preserve make it the prime location for viewing the megayachts that make Fort Lauderdale famous. The kitchen has undergone extensive renovations, with the wall opened to create more expansive views. Modern features include custom mahogany below counter cabinets, top of the line stainless steel appliances, an 8’ x 4’ granite topped kitchen island, and contemporary lighting. The living areas have 18” porcelain tile flooring. Ceilings have been renovated to smooth finishes, the air conditioning system is new and there is a washer dryer in the utility room adjacent to the kitchen. Each bath has been completely updated with modern fixtures; there is a customized walk in closet in master bedroom. All windows and doors have been replaced with hurricane impact glass. Maintenance on this residence is $768 per month and due quarterly. The Corinthian maintains the distinction of being one of the most financially sound and well managed buildings in Fort Lauderdale. There is a reason that this building has stood the test of time, and is now seeing rising values. This stunning Residence 7E is listed at $525,000 and I am pleased to show it to interested parties, contact me for more information.

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Wednesday, April 10, 2013

It has been difficult to keep pace with the amount of buyers and offers that are on the market in Fort Lauderdale currently. As I reported, recently prices are up by 23% from a year ago, however they are still down from the estimated height in 2006, and if you are looking to sell, it is an excellent climate, when homes are priced correctly. The reported statistics and market numbers available may be difficult for a seller to decipher correctly, because while homes may be selling for much higher than they were a year ago, many homes on the market are overpriced because sellers have unrealistic expectations of what a buyer is willing to pay. Due to the lack of inventory prices are necessarily driven up, however builder confidence is high and new developments are a certainty, making it possible for the seller climate to change.

Whether you are buying or selling, navigating the real estate waters of “ TheVenice of the Americas”, Fort Lauderdale, it is paramount to have an “expert realtor” for consultation on market conditions. I have had the occasion to report a number of sales recently, from both the seller and buyer perspective and urge sellers to consider listing. My recent sales include, Unit 7E at The Corinthian for $440,000, Unit 20E at The Corinthian for $399,000, Unit 304 at the Point of Americas II for $680,000, Unit 8A at Park Tower for $400,000, Unit 17F at Berkley South for $340,000 (the highest sale in the building in over 5 years), Unit 609 at Coral Ridge Towers for $176,000, and Ocean Manor 305, which sold for the full asking price of $100,000. In the case of the property in Berkley South, I had the occasion to represent both buyer and seller. Contact me today if you are considering listing or buying in the Fort Lauderdale Luxury Waterfront Marketplace.

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