Only one unit was sold last month at Grand View Palace. Sales activity has slowed down in condominiums in North Bay Village and Miami Beach but with the right marketing and the right approach, your unit can still be sold. At Grandview Palace, most of the sales recorded in recent years have been units below $300k. PH205 sold for $290,000 as a cash transaction. This is a corner penthouse with two covered parking spaces, which made this unit a great deal.

Motivation arose last month among the homeowners at Grandview Palace when a total of 7 units were listed for sale. These units listed for an average price of $306,142. Three corner units were listed, #1118, penthouse #207 and #1911. PH207, located on the top floor, unique for its 10-foot ceiling, offers an incentive for buyers and it offers the possibility of owner financing. Another unit to highlight last month is #1524, taking into consideration location, view, and inside conditions make this unit a great deal.

Nine is the number of units that were offered for rent last month. This is a trend we have seen more often. Owners who haven’t been able to sell their units decide to list their units for rent, in order to cover some of the expenses while still trying to sell their units. These new rental listings have an average list price of $1,989 per month. A unit to highlight last month is #903, a one-bedroom condo. This type of unit is not common in our building, and with the correct marketing and price, such units get rented quickly, which is why this one is already rented.

Nine was also the number of units rented in our building last month. These units rented for $2,074 per month, lasting an average of 95 days in the market. We have units #2301, #1724 and PH222, all of which have been recently remodeled and are also offered for sale. Unit #2223 was offered fully furnished, renting for $2,300, really close to the asking price.

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