The Resale Values at Fendi Chateau Residences in Miami
May 16, 2019What are Fendi Chateau Residences reselling for?
There are only 3 registered resales at the Fendi Chateau Residences, all located on the 7th floor. This blog is written to give sellers and buyers a better understanding of the resale values at Fendi Chateau Residences Miami. We will provide you with more information on what they sold for, how long they were on the market for and how they were finished.
Fendi Chateau Residences 705
- Original Listing Price: $6,992,000
- Last Listing Price: $5.2M
- SalesPrice: $4.9M
- Sales Price per SF: $1,402 per SF
- Closing Date: 04/19/2019
Unit 705 had been on the market for almost 2 years (740 days). The 3,496 SF property that was originally listed for $6,992,000.00, has been reduced 4 times and was under pending contract twice before being sold for $4.9M. The unit was sold ‘Decorator Ready”, meaning the new owner still needs to put floors, paint, closet build-outs and/or light fixtures
According to the MLS, the seller was very motivated and wanted to see offers!
Fendi Chateau Residences 706
- Original Listing Price: $9,580,000
- Last Listing Price: $8.9M
- SalesPrice: $7,970,000
- Sales Price per SF: $1,629 per SF
- Closing Date: 01/09/2018
Unit 706, a 4,897 SF, 3 bedroom corner residence with staff quarters, was 412 days on market before being sold. The unit was finished with 48″ x 48″ white marble flooring, Ornare Closets, and white Linen curtains throughout.
Fendi Chateau Residences 704
- Original Listing Price: $6,992,000
- Last Listing Price: $6,756,000.00
- SalesPrice: $5.5M
- Sales Price per SF: $1,628.18 per SF
- Closing Date: 03/21/2018
Unit 704, a 3,378 SF, 3 bedroom residence, was sold for $5.5M after 455 days on the market. The unit was reduced once before receiving the final offer and was sold designer ready without floors, build-outs etc.
As was the case with many, if not most, pre-construction condos that were delivered during the market peek, some resale prices might be lower than what the seller originally paid.
Unit 705 for example sold for 1,402 per SF while in 2018, the developer sold the same floor plan on the 2nd floor (which is around 250 SF larger, but on a much lower floor) for $1,7856 per SF.
Many sellers need to get their investment back and are looking for prices that are not in line with current market prices. Contact the Fendi Experts to get a better idea of what a unit is worth and to ensure you are not paying over market price.
