Marina Blue Unit 5108 Closes for $431 Per Square Foot

December 4, 2009

Earlier this afternoon, unit 5108 at Marina Blue closed for $575,000, or $431 per square foot.  The unit was decorator-ready and there weren’t any seller concessions.  The reason why I know this is because it was my listing.

The sale of unit 5108 marks the highest price per square foot sale at Marina Blue for 2009.  Earlier this year, I discussed an opportunity to purchase condos at Marina Blue for as low $156 per square foot.  Additionally, the asking price for penthouse condos at Marina Blue started as low as $307 per square foot.  These bulk prices were offered to those who were able to purchase 5 or more condos.  However, the retail prices were excellent as well for those who wished to purchase only one condo.  Retail prices started at $188 per square foot.  One of my clients was able to acquire a penthouse condo for $362 per square foot.  One 08 line unit was available at that time at a bulk price of $226 per square foot or a retail price of $272 per square foot.  The 53 units that were available for sale in June all went under contract within the first 2 weeks.  That opportunity has come and gone.  The sale of unit 5108 just goes to show that there were some outstanding opportunities to be had in 2009 if you looked in the right place and didn’t have your mind made up before hearing the deal.