Apogee Beach Construction is Complete!

In yet another sign of market recovery, Apogee Beach has finished construction.  This marks the third completed condominium project in South Florida since the 2007 market crash.

Designed by world-renowned architect, Carlos Ott, the newly constructed Apogee Beach is a 22-story ocean front development located in Hollywood Beach. According to Broward county records, Apogee recorded its first transaction in September.  However, this is just the tip of the iceberg, so to speak, as three additional condo projects – Regalia in Sunny Isles Beach, Bellini Williams Island in Aventura, and MyBrickell in Greater Downtown Miami/Brickell – are scheduled for completion later this year.

Overall, South Florida is looking at over 172 new condo towers in various stages of development ranging from proposal, planning, construction, or completion. This volume of development, which as recently as two years ago might have seemed inconceivable, serves as the best statistic to forecast the current state of the real estate market.

As I have said before, there is currently less than a 5 month supply of condos in South Florida. There is not enough inventory to keep up with the demand from international buyers, so developers see this as an opportunity to add more inventory. We are back to the seller’s market we saw during the pre-crash years of 2004-2007 and sellers need to take advantage.

If you or someone you know are considering selling, please contact me. I understand what it takes to market your property to sell for the highest price possible in the least amount of time, and I provide a full list of services for sellers. I appreciate the opportunity to earn your business.