Several New Luxury Oceanfront Condos Come to Sunny Isles Beach

August 22, 2012

Some of the newly proposed luxury towers in Sunny Isles Beach are Chateau Beach, 400 Sunny Isles, Mansions at Acqualina, Porsche Design Tower, and Regalia. It’s possible that the new units in these buildings will be sold-out by the end of 2012.

Many factors go into the rapid sales of luxury waterfront tower units in Miami. The remaining deals on luxury oceanfront condos, historically low interest rates, and the indication that sale prices are going up and should continue to go up in the future are all part of why we are seeing luxury waterfront condos sell almost before they hit the market.

Foreign buyers have been eyeing South Florida real estate for a while now. Many of the recent sales have been by foreign buyers nervous about the political, economic and currency situation of their own country. Many of the foreign buyers are looking for good deals and a safe place to invest. Quite a few of the recent sales of luxury oceanfront condos in the area have been by foreign buyers with cash.

Sunny Isles Beach was created about 15 years ago. At the time, the stretch of beach was covered with theme-oriented boutique hotels from the 1950’s. Developers realized that this area was perfect for luxury beachfront condos that would appeal to foreign and domestic buyers.

At this point, the Regalia is the only new luxury waterfront tower under construction. The Regalia is a 43-story luxury oceanfront tower featuring 39 units located on the northern edge of the city overlooking Golden Beach. The Mansions at Acqualina is the next luxury tower to start construction the end of August.

Full Story: The Miami Herald