South Beach Real Estate: Luxury Condos in South Beach Now Flirting With $3,000 a Square Foot Pricing Power

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By Michael Gerrity
According to a new report from Peter Zalewski, principal of Bal Harbour-based Condo Vultures, as buyer are now coming to grips with the potential of paying $2,000 per square foot for ultra-luxury condos in the tri-county South Florida region, a small contingent of sellers is now attempting to raise the pricing threshold to more than $3,000 per square foot for the most “fabulous of fabulous” high-end condo units.
As of June 29, there are four condos on the resale market with an asking price of at least $3,000 per square foot, according to an analysis by the licensed Florida real estate brokerage CVR Realty.
An additional three units are being marketed slightly below the $3,000-per-square-foot benchmark with pricing between $2,950 per square foot and $2,999 per square foot, according to the analysis using Florida Realtors data. Fisher Island, an enclave just south of Miami Beach, is home to three of the four condos on the South Florida resale market at more than $3,000 per square foot.
The fourth South Florida condo marketed at more than $3,000 per square foot is located on Ocean Drive in the South Beach neighborhood of Miami Beach. All three of the condos on the market between $2,950 and $2,999 per square foot are also located in South Beach, according to the data.

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Pamela Diaz-de-Leon With an accomplished background encompassing Diplomacy, Architecture, Business and Film, Pamela Diaz-de-Leon brings to the real estate industry the entrepreneurial expertise which stem from her interdisciplinary experience. Her world wide network of distinguished personalities carefully knitted of relationships formed in her five years as the Cultural Attaché for the Instituto Cervantes, serving the King of Spain, in Chicago, and her Hollywood connections acquired while working with a recognized film distributor, give her the global platform in which she has developed her business with great success. Knowledgeable, informed and organized she holds ethics and integrity as her highest values thus, providing her customers with an excellence of service that ensures their utmost satisfaction and their continued loyalty to her work. Office. 305.677.5055 Cell. 305.720.8439
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