2007 Market "Solds"
Contrary to national real estate market reports, hi-end direct oceanfront estate sales have weathered the market, and I believe will continue to do so in this exclusive area of the Gold Coast. Our area's "Solds" for 2007 are below, and activity on direct ocean, in the $5 Million and over range, will most likely resume this 2008 season,if prices continue to fall.
The following "solds" are in Highland Beach, Delray Beach and Gulf Stream. I called it our "March Madness" and predicted to see this happen again in 2008.
1 u 1103 S.Ocean Blvd. Delray Beach Closed $19M 3/13/07: Brand New "Spec" on 120 ft. of frontage, listed for $19.95 Million, Sold Partially Furnished.
2 u 1511 N. Ocean Blvd., Gulf Stream Closed $17,667,500 3/26/07:. Resale on 150 ft. of frontage went pending on 2/27 after 43 days on market. Listed @ $19.95 Million unfurnished. This estate had just previously sold for $16.8 Million last 6/14/06.
3 u 995 S. Ocean Blvd., Delray Beach Closed $10.2M 3/26/07: Small house renovation on 100 ft. of direct ocean frontage. Listed @ $11.9 Million.
4 u 501 S. Ocean Blvd., Delray Beach Closed $5.446M 4/10/07: Small 4348 sq-foot house on 100 feet of ocean frontage, listed @ "Land Value" $6.5 Million (shallow lot 100' x 200'). Location is adjacent to the Seagate Club & just south of Delray's public beach.
5 u 4011 S. Ocean Blvd., Highland Beach Closed $10.7M 4/30/07: Resale listed @ $12.9 Mill. on 100 ft. of direct ocean frontage. Shallow lot with the swimming pool on the roof. Very motivated seller. New buyers have since gutted most areas of the house and it is undergoing an extensive one year renovation, inside & out, spending millions!
6 u 4215 S. Ocean Blvd., Highland Beach Closed $9.5M 7/23/07: "Land" listing @ $10.8 Million on a shallow 200 x 211 ft (Sold $4.75M per 100 feet) "Boxwood" Apts to be torn down with six new townhomes to take it's place. Four were pre-sold, and two are still available, pre-construction priced. Call me for more information and plans, 561-265-0457. Your chance to live on direct ocean for under $5 Million.
7 u 2929 North Ocean Blvd., Gulf Stream Closed $7.475M 9/28/07:. A 1937 tear down on 120 feet of ocean frontage (120' x 330'), listed as a "land" listing (sold for over $62,000 per front foot). The property has its plans & permits for a new 8,000 SF British West Indies style estate. The lot adjoins the Gulf Stream Golf Club.
I will continue to update the market report, so please bookmark my site, and check in periodically.