South Florida’s real estate market, notably the condominium sector, has been on a roller-coaster ride throughout recent months, much like the rest of the United States.
In the economic downturn that immediately followed the influx of condo construction throughout Miami, things have been interesting.
Take for example The Setai South Beach, luxury hotel and residences. The penthouse of the Setai is a 6,200 square-foot Villa on the 40th story boasting 4 bedrooms, and is currently back on the market with an asking price of $24 million.
That is approximately $3,870 per square-foot, and would be a record transaction if a deal were to go through. The Setai does have a desirable and oceanfront South Beach address, located at 101 30th St. and features 163 luxury units.
The W Hotel South Beach holds the current record at $3,348 per square-foot. The record-holding unit is a one-bedroom beachfront bungalow and was a pre-construction sale. The W Hotel and residences just opened up in the summer of 2009, and has been a sought-after place to see and be seen among the affluent. The W Hotel is 20 stories high and features 419 units, located at prestigious 2201 Collins Ave.
Both luxury hotels are a spectacle to experience, from the manicured landscaping, expert architecture, to the luxury rental cars outside. Remember, if you cannot afford to invest at this juncture, you can always enjoy a luxury property rental South Beach style anytime!
Post by Imagine Lifestyles Luxury Rentals