February Update – Yacht Club
Renovation works have taken place in your Yacht Club in Portofino. Your new awnings are at the front of the...Read More
What happened this past week at the Portofino Yacht Club? Three high-end condo sales in the building. The building is shaking and it’s not a hurricane!
First, #2012 sold and had been on the market since September 2018. At that time they started marketing it for $1,100,000 but it finally sold for $850,000. It wasn’t remodeled but the 12 line is a corner unit facing the bay so it is very desired.
The #2612 also sold for a similar price of $857,000. That unit was not remodeled either but a few floors higher which does make a big difference since the Rebecca Towers are to the North of the Portofino Yacht Club.
In 2016, when the market was hot, the corner units facing the bay were selling up to $1,150,000 so that’s a huge profit you can make by buying at the right time and selling it during a peak season.
Finally, our company proudly sold #2010 for a record price of $1,050,000 or almost $1000/sqft. This unit was fully and beautifully remodeled. It’s the highest sale in the building since 2016 (except for a Townhouse).
To conclude I think sales have hit the bottom in Miami Beach so buyers are now ready to pull the trigger. A lot of buyers have been eyeing on Miami for the past 2/3 years and they witnessed prices go down. Now is the perfect timing to put an offer on your preferred unit at the Portofino Yacht Club.