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First new Destin luxury condo since 2006

Discussion in 'Real Estate' started by steel1man, Jul 8, 2014.

  1. steel1man

    steel1man Beach Fanatic

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    #JetIn? http://t.co/luAGJKeNnp gulf coast panhandle fl. Only two units per floor only 9 left..RT UR Jetset friends #1stnewcondosince2007
     
  2. Matt J

    Matt J SWGB

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    Well without a helicopter landing pad...
     
  3. drivingtheview

    drivingtheview Beach Lover

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    Curious about the going rate -- anyone know? 16 total units (includes 2 penthouse). Quick math at $500/sf yields $22.5M potential revenue. My guess is north of that. Party like it's 2004
     
  4. Matt J

    Matt J SWGB

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    :rofl:

    $500/sq. ft? I'm sure that's a very conservative estimate. The marketing is clearly designed to start a buzz and ultimately a bidding war. I'm betting $1,000 is a more likely goal.
     
  5. steel1man

    steel1man Beach Fanatic

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    $560-$635 Sq.Ft on 2600SqFt. Pre construction on remaining units.Units facing East on to Henderson Park only 3 left. $1000 sq ft may be a stretch or may be not?
     
  6. Matt J

    Matt J SWGB

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    They haven't flipped, yet.
     
  7. drivingtheview

    drivingtheview Beach Lover

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    Interested to see if any flips occur. I don't believe this development has anything comparable much less higher priced nearby? Average pre-sale prices start @ $1.5M. Mortgages aren't being approved by last night's bartender anymore. Big banks have all but 86-ed 2nd home condo loans. The only comps will be these original sales. Not saying flips won't occur. But if they do - the flippees will have some serious credit/cash in hand. Of course - these units are full of stone tops & stainless steel. Anything's possible
     
  8. steel1man

    steel1man Beach Fanatic

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    These are first condos built since smartphone invasion. One of penthouses bought by a Brazilian multi media and info magnet. They will be installing all the techie fun stuff in the units. Prices are cheap now. Ripe for flipping if the water isn't to deep for you. Some units over 8 years old next door asking $1.7 ish.
     
  9. drivingtheview

    drivingtheview Beach Lover

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    I had no clue units next door (assume silver shells) asking $1.7 range. This looks like a great development. Way too deep for me!
     
  10. steel1man

    steel1man Beach Fanatic

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    Signature Beach is building next door only about 20 something units,similar design to 1900-98.
     

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