Miami Real Estate... A World All Its Own

Coconut Grove Ritz Carlton Sales Are Up Dramatically in 2010

Exterior View of Both Ritz-Carlton Buildings

The Ritz Carlton in Coconut Grove is composed of two high-rise buildings.The Executive Residences at 3350 SW 27th Avenue, is a 5-Star hotel with a private entrance to the individually owned condos accessible only to residents. The Tower Residences next door is only for private owners. The name Ritz Carlton sets the standard for luxury and impeccable service throughout the world, and owners enjoy all those amenities.

Lobby of the Ritz-Carlton at 3350 SW 27th Avenue

Sales in 2010 are up exponentially from last year. While there were only 2 sales in the Ritz Carlton last year, there has  been 13 apartments close in 2010. Since there are no pending sales now, this is most likely the total for the year.

The average sale price in the Tower Residence, dedicated to private owners exclusively, is $833,000 ($430 per square foot) while the average for the Executive Residences is $720,000 ($387 per square foot).

Lobby of the Ritz-Carlton at 3400 SW 27th Avenue

There are currently 30 apartments available for sale at the Ritz Carlton ranging from a one-bedroom short sale for $320,000 to a 3 bedroom penthouse listed at $3,600,000. In the entire complex there are no foreclosures and five short sales at the moment.

Closed sales this year include no foreclosed properties. Sales were between $390,000 and $1,745,000 (from $300 to $610 per square foot).

If you are interested in seeing any of the units at the Ritz Carlton give me a call at 305 794.6570 or leave me a note. If you enjoyed reading this article, why not Subscribe to receive the next one? Once you register, you must activate the subscription in a follow-up email.

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