View From The Residences of Ritz Carlton, Coconut Grove
I was over at The Icon in downtown Miami this weekend and believe it or not there were buyers lined up outside the sales office. There are some buildings in Miami right now that are in high demand and other buildings that are just......not.
For instance, The Residences of Ritz Carlton in Coconut Grove currently has 42 units on the market and has only had 9 sales since January of 2009. Most of the units that sold sat on the market for over a year.
The average List Price/Square Foot at The Ritz is currently $493.00 and the average Sale Price/Square Foot is $392.00. Units currently range in price from $360,000 to $3,600,000.
I had two great listings at The Ritz Carlton last year and rarely had showings. We did everything possible to market them including mailings, newspaper, internet, open houses but it just seemed that the interest wasn't there.
With so many units on the market and sluggish sales it may be a great time to get a deal. Don't forget that The Ritz Carlton offers top notch amenities and a great location. To see a list of condos for sale in Tower 1, click here. To see a list of condos for sale in Tower 2, click here.
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If you are interested in buying or selling real estate in Coconut Grove and are looking for a Grove specialist, please contact me at 305.342.1623 or send me a note here.
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