Widely considered the highest end ultra-luxury condominium building in all of Miami Beach, Apogee's past 90 days of closed sales demonstrates the enduring strength of the overall South Beach condo market. This was the last, and highest end, condominium building completed by the Related Group in 2008. Despite the severe real estate downturn of the past few years, sales data for the Apogee in the past few years, and most especially recently, is further evidence that premier waterfront properties continue to draw buyers willing to pay a premium price for the right location, amenities, and especially in a boutique ultra-luxury building.

A particularly noteworthy sale at Apogee is highlighted below. This condominium, although spectacular with many ultra-luxury features and amazing views of Fisher Island, Government Cut, the Ocean, and the city of Miami Beach, was sold "Decorator Ready" but still needed to be finished out with flooring, window treatments, paint, etc.

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Apogee #1801- High floor Eastern Exposure corner condominium with four bedrooms / four baths estate in the sky type residence. The extra large living room even has a fireplace! Large master suite with midnight kitchen. Media room and outdoor kitchen. Top of the line line appliances, exceptional woodwork in closets, sunken bathtub/ rain showers. Panoramic views of Fisher Island, Atlantic Ocean, Government Cut, South Beach. 2400 sf wrap-around terrace. 2.5-car enclosed private garage.

Sold Price: $5,900,000
Original “For Sale” Price : $6,795,000 (5/2009)
Original “Sold” Price (7/2008) : $5,390,000
Bedrooms: 4
Bathrooms: 4
Interior S.F.: 4,154 ($1,420/SF)
Total S.F.: 6,554 ($900/SF)
Closed Date: April 16, 2010
APPRECIATION from Previous Sales Price in 2008: 9.5%

Below are the last 90 days worth of closed sales data from the entire Apogee Condominium Building:

Apogee South Beach Condos

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As children get older and leave their parent’s home to create a new beginning and as college grads embark on building their careers, the thought of buying a home comes into play. In the past home buying was a no brainer.Miami real estate was thriving and values were going through the roof. Today, it’s a dramatically different situation.

Home buying is riskier and yet prices for a Miami Beach condo or otherwise unaffordable South Florida homes are now a lot more reasonable, an interesting predicament which has many people wanting to buy their first home asking: is it the right time to buy?

A biased real estate agent will not hesitate to tell you that yes, you should totally buy a home now but it just isn’t that simple. For the time being, almost any home you purchase now will have a lower value in a couple of months so yes, there is a significant possibility you will lose money. Plus, if your credit isn’t up to par you’ll quickly find that lenders aren’t as lenient as they once were and may flat out turn you down or give you financing terms that don’t work with your budget.

On the other hand, it’s not necessarily all doom and gloom. As mentioned above, if you’re seeking an upscale waterfront condo or single family home in a gated community, prices are at record lows. Mortgage rates have also been reduced which will allow you to agree on a financing schedule you can actually manage and won’t have you struggling to make monthly payments, especially if you have an above average credit score.

A knowledgeable real estate agent can assist you but the ultimate decision should come down to what your future goals are and your assets. Will you lose money? Chances are you will. Can you recoup your losses in the long term? Eventually, yes. If it’s not the right thing to do then stay put. Just keep in mind there’s nothing wrong with browsing either.

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