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Luxury Condo Real Estate

Luxury Condo Sales Surging Across The Country

In the early months of 2020, Luxury homebuyers in pockets all across the country abandoned the convenience and low-maintenance potential that condos offer, opting instead for more space with fewer people. Sales rose in suburbs of New York, like Westchester County, and Long Island. Between March 2020 and November 2020. However, Manhattan sales fell dramatically. High-end properties in urban areas sold in the city saw steep discounts. Here we will discuss how luxury condo sales are surging across the country.

 

However, all that has changed in the last 12 months. Manhattan has primarily rebounded, with the most pronounced increases in Hudson Yards and Chelsea. Where contracts have tripled, and pricing is up more than 20% from pre-pandemic numbers. On the Upper East Side, where contracts are up 150% and pricing 15%. The same is true in Miami; Sales of luxury condos are up 113.8% year-over-year. Q3 2021 saw the highest numbers for that time period in more than six years.

Luxury Condo Market

The luxury condo market is now red-hot, with properties selling at or above asking prices and multiple offers being the norm rather than the exception. So what’s driving this resurgence in demand for high-end condos? This blog post will explore some of the factors behind this phenomenon, including the popularity of urban living. The rise in foreign investment in U.S real estate, the variety of inventory,  and the increasing number of empty nesters and retirees.

Luxury condo sales surging across the country

The rise in foreign investment in U.S real estate has also helped boost the luxury condo market. A growing number of wealthy individuals from around the world are investing in U.S condos as a way to diversify their portfolios and protect their money against volatility in their home countries. In addition, many foreigners view U.S real estate as a sound investment due to the strong economy and stable political environment.

 

The increasing number of empty nesters and retirees has also helped drive demand for luxury condo sales. As more and more people reach retirement age. They choose to downsize their living arrangements. They move into smaller homes or condos. This trend is particularly prevalent in urban areas.

Popularity Of Urban Living

The popularity of urban living is another factor driving demand for luxury condos, as more and more people are choosing to live in cities. The upside to urban living is that cities are the cultural and business engine of the country. They continue to be a desirable place to live despite the narrative of the past two years.

 

Another factor contributing to the desirability of luxury condos is the variety of inventory. There are many different types of luxury condos out there, and this variety is appealing to buyers. From small or boutique buildings to full-service high-rise residential towers, buyers can find any type of condo home they want in a wide range of prices, walking distance to the things they and their families love to do. They can find the perfect property that meets their needs, whether for work or leisure.

Luxury condo sales surging across the country

High-end Condo Developments

Many high-end condo developments come with top-notch amenities, such as gyms, swimming pools, and roof decks, which are becoming increasingly important to luxury homebuyers. And finally, many people are choosing to buy condos as investments, knowing that they will be able to rent them out for premium rates, especially for luxury condos in South Florida. As a result of post-pandemic life, South Florida has quickly become one of the most popular getaway destinations in the world. Buyers & renters are coming from all over the globe to take advantage of our sunny weather, beaches, and lesser restrictive atmosphere. As a result, the demand for short-term rentals has skyrocketed, with luxury condos being the most in-demand.

 

So what does all this mean for the condo market? It looks like the luxury condo market is here to stay!

 

The current trends indicate that luxury condo sales will continue to increase as more and more people are drawn to the urban lifestyle. The many benefits that come with it. If you’re thinking of buying a luxury condo as an investment or just for yourself and your family, now is the time.

 

For more information on the luxury condo market, please contact us at info@DotoliGroup.com or give us a call at (954) 799-6403. We would be happy to help you find your dream home!

 

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Luxury Condo Real Estate

Benefits of Investing In Fort Lauderdale Waterfront Property

If you’re looking for a property that offers both investment and lifestyle benefits, waterfront property in Fort Lauderdale is a perfect choice. With its miles of beautiful beaches and waterways, Fort Lauderdale is one of the most sought-after destinations in Florida. Here are just a few reasons why investing in waterfront property here is a wise decision:

Waterfront Property

The market for waterfront property in Fort Lauderdale is strong and continues to grow. With its idyllic setting and prime location, demand for these properties is high, meaning values are likely to increase and sustain over time. Looking for a waterfront home? You’ve come to the right place. Our listings include some of the most beautiful and luxurious waterfront homes in the country. Whether you’re looking for a vacation home or permanent residence. We have something perfect for you.

Benefits of Investing In Fort Lauderdale Waterfront Property

In addition, the waterfront lifestyle offers plenty of opportunities for recreation and relaxation. From fishing and boating to swimming and sunbathing, living on the water provides endless ways to enjoy life. Plus, with year-round warm weather and you can enjoy your home’s outdoor spaces all year long.

Why Invest in Waterfront Property

Another reason why investing in Waterfront property in Fort Lauderdale is a wise decision is that these properties offer great potential for appreciation. With miles of gorgeous coastline and plenty of activities and attractions to keep guests entertained. Waterfront homes are perfect for hosting family and friends. They also provide a desirable vacation rental option. In recent months, South Florida has become the #1 vacation destination globally. Short-term and long-term rental pricing has skyrocketed with such demand and limited supply.

Sell Your Home

When it comes to selling your home, time is money, and by owning a waterfront property. You are almost sure it will sell faster and for a higher price per square foot than any other home not on the water. Waterfront property is an asset that will always have a demand, and with prices on the rise. It is a sound investment for you and your family. So, if you’re looking for an investment that offers both lifestyle and financial benefits. Waterfront property in Fort Lauderdale should be at the top of your list!

Benefits of Investing In Fort Lauderdale Waterfront Property

If you are interested in learning more about purchasing or selling waterfront property, schedule a conversation with Josh Dotoli, our waterfront real estate expert. Josh Dotoli, the founder of DOTOLI Group, brings nearly a decade of real estate experience and over $500 million in residential real estate sales to your real estate transaction. Recognizing his expertise in luxury waterfront real estate, publications like Forbes, Wall Street Journal, Bloomberg, and RealDeal quote Josh as he shares his experience and expertise on topics impacting South Florida Real Estate. Dotoli was recognized by South Florida Business & Wealth Magazine as the winner of the prestigious “Up & Comer Award” in residential real estate and awarded “Best Real Estate Agents in America” by Real Trends and the Wall Street Journal for his outstanding sales volume in 2018, 2019, & 2020. The DOTOLI Group is in the top 1% of real estate teams nationwide.

 

For scheduling information, contact Josh Dotoli at 954.799.6403 or email Info@DotoliGroup.com

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Real Estate

The Different Floor Plans At Paramount Fort Lauderdale

This 18-story building offers 85 Tower Residences, 6 Townhomes, and four penthouses for a total of 95 private residences! With so many floor plans available in Paramount Fort Lauderdale, it can be hard to choose the right one. Floor plans are all about the individual needs of the homeowner. Do you have a family of four that needs lots of space? Or maybe just two people who don’t need much room? It might seem like an easy decision on paper, but once you start looking at condos with different layouts and features, choosing which is best for you becomes more difficult! Below are some illustrations and descriptions for each floor plan layout in Paramount Fort Lauderdale.

Paramount fort lauderdale floor plans

Residence A1 Floor plan:

This four-bedroom 4.5 bath floor plan features an interior area measuring 3,474 square feet and a terrace area of 891 square feet for a total area of 4,365 square feet. Residence A1 has direct ocean view exposure with two separate terraces with wrap-around views to the east, southeast, and southwest.

paramount fort lauderdale floor plans

Residence A2 Floor plan:

This residence is a mirror image of A1 located on the building’s northeast corner with direct ocean views. The interior space and balcony/terrace size are the same as A1. The balcony has an East, Northeast exposure that wraps around the North and Northwest.

paramount fort lauderdale floor plans

Residence B1 Floor plan:

This residence is a two-bedroom, 2.5 bath with an interior area of 1,190 square feet and a terrace/balcony area of 545 square feet. Situated on the Southside of the building, this unit has fantastic ocean views and Intracoastal views.

Residence B2 Floor plan:

This residence is the same as B1; however, it’s situated on the north side of the building. The interior area and terrace area remain the same as B1 for a total area of 2,455 square feet. The views are to the North and North West.

Residence C1 Floor plan:

This residence is a three-bedroom, 3.5 bath with an interior space measuring 2,626 square feet and a terrace area of 732 square feet for a total of 3,358 square feet. This unit is situated on the southwest corner of the building with two separate balconies. A balcony is positioned off the Master and Great Room that faces South. The other balcony off the kitchen and second bedroom faces West with spectacular views of downtown Fort Lauderdale and the Intracoastal.

Residence C2 Floor plan:

This residence is the same size and layout except that it’s located on the Northwest corner of the building. The main balcony located off the Master and Great Room faces north, and the smaller of the two balconies, located off the kitchen and bedroom, faces West.

Townhouse 1 Floor plan:

The townhouses at Paramount Fort Lauderdale are incredibly unique. Townhouse 1 is the largest of the two tri-level floor plans. The first level features your kitchen, living and one bedroom. The second level features the master suite and an additional bedroom. The third level features a rooftop terrace with a foyer and full bathroom. The interior measures 2,429 square feet, and the terraces area measures 756 square feet for a total area of 3,185 square feet.

Townhouse 4 Floor plan:

This is another tri-level floor plan featuring three bedrooms and 4.5 bathrooms. The total interior area measures 2,262 square feet, and the total terrace area measures 620 square feet for 2,282 square feet. You’ll find the kitchen, one bedroom with a full bath, a powder room, a great room, and a small outdoor terrace on the first level. The second level features the second bedroom and the Master suite with its balcony. There is also a full-size laundry room plus a den on the second level. The third level features a large terrace and half bath.

paramount fort lauderdale floor plans

As you can see there are various floor plans available in Paramount Fort Lauderdale. Each floor plan layout can meet a wide range of needs depending on how they are furnished or arranged. For more information on units available for sale , and rent call Josh Dotoli, Paramount’s #1 Real Estate Expert 954.290.9232 or email Josh@joshdotoligroup.com