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First new Destin luxury condo since 2006

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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
 
: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.
 
$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?
 
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
 
ajl4 said:
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
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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.
 
steel1man said:
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.
Click to expand...
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!
 
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