As featured in The South Florida Business Journal – November through January have been the best sales months at Turnberry Ocean Residences in Sunny Isles Beach, primarily because of buyers from the winter-stricken Northeast, said Jim Cohen, president of Fontainebleau Development. The larger units in the recently completed tower are selling faster than the smaller ones, and they’ve even combined some units to create duplex-style condos.
A similar trend occurred at Fontainebleau Development’s SeaGlass Jupiter Island project, where the larger condos were the first to be presold, Cohen said.
“In our SeaGlass project, in two recent sales, the clients came out of 20,000- or 30,000-square-foot homes,” he said. “They still demand a large space. They are just tired of upkeep for the home. They are downsizing, but still buying 6,000 to 8,000 square feet.”
Fontainebleau Development is strongly considering more luxury projects in South Florida, as the demand for larger units will continue and few projects are under construction now, Cohen added.
Source: South Florida Business Journal
JOIN OUR INTEREST LIST
