Motivation skyrocketed last month at the Grandview Palace Condominium when a total of 9 units hit the open market for sale. These new listings average a list price of $299,900. Among these new listings, we have 3 corner units, two located on line 05 and #620 located on line 20. One of the most desired lines of the building. Now, our active inventory of units for sale in the building is up to 53 in total. However, 10% of this inventory is overpriced and the owners have their units listed just to see if they can get the amount of money they want for their units, and not necessarily the market price.

Only one unit sold in March at our building. Unit #2409 after almost two and half years of being on the market, sold cash for $260,000. This unit includes two parking spaces and it is partially updated. So far, this year only three units have been sold and all are under the $300K.

A total of 11 units became available for rent last month. These units were offered at an average price of $1,948 per month. Unit #2409 was recently sold and is now offered for rent. A unit to highlight last month is #1509. This unit is fully remodeled and offers unobstructed views of the Biscayne Bay, offered for $1,900 per month.

Four units found new tenants this last month at Grandview Palace. These units rented for an average of $1,931 per month. Units to highlight last month are #1510 and #PH207. #1510 is fully remodeled with two parking spaces offered for $1,900, which is the reason why it lasted only six days in the market. #PH207 a corner penthouse, partially remodeled located on the top floor of the building offering fantastic views of the east and south of Miami Beach and Biscayne Bay, rented for $2,200 per month.

If you any further questions regarding this report, you may contact Nivaldo Soria, P.A. or Claudia Serpa, P.A.
at 305-219-8343 or nivaldosr@SouthFloridaInvestments.com