Trump Tower I Sunny Isles Beach closings to Occur 1Q 2008! In determining value at Trump Tower I, from a Banks perspective, they will send out someone who may or may not even know the local market. They research similar units in the same tower that have already closed and consider floor height, view direction, and finishes (detail), such as marble floors vs. carpet or raw & unfinished. If 3 to 5 other units have closed b.w $1.1 & 1.5 price range, they will adjust so that yours fits into the puzzle and come up with an estimated value. Because of the mortgage market situation, today’s banks are more conservative than ever. If not enough resales have occurred in the new Trump Towers, they will research and look outside the building near Sunny Isles real estate, such as Trump Palace of Sunny Isles (or similar units & square footage ), to determine value.
Trump Tower I Sunny Isles Beach Values
I believe as we get closer to closing units at Trump Tower I, prices and values will go downward for a short time as we find 2% of sellers extremely motivated. The most motivated speculators try and get theirs sold first, with pricing wars usually occurring b.w unit owners of similar units such as #2903, 1703, 503, 4003, and so on…Today’s value, in my mind, is somewhere around $1.1M for a high floor of 2700 sq feet. With a $30K or so investment into finishing the property, I find it cost-effective and almost mandatory as today’s buyer(s) do not like the hassle of ‘what it might take to finish it themselves.’ The return for finishing each unit at Trump Tower condos should at least cover the expense if not, add $50-$100K additional (first come, first serve, so act fast), but again it comes down to active competition and what the most motivated are doing at that time.
Hope this helps,
6 thoughts on “Trump Tower I Sunny Isles Beach Closings to Occur 1Q 2008”
I have a unit it Trump Towers #1907 and I’m looking to sell before closing (which is now), If you have anyone I will make the deal very sweet for everyone.
The contract price for the unit is the key for someone looking for a real opportunity. Some of us went in at pre-pre prices. Unfortunately, I cannot cover the closing costs for my unit and unless someone takes over, I will be giving Trump free money.
The opportunity is to get in a unit BEFORE the unit closes.
So here is a proposal for someone that is interested:
– Unit 3007 (SE views, 30th floor), under contract at $1.047 Million OFFERED at $947K – I WILL GIVE YOU $100,000 FROM MY DEPOSIT!
– Appraised at $1.105 Million in March 08. – YOU WOULD BE COMING IN AT UNDER $250,000 OF A CONSERVATIVE APPRAISED VALUE (Copy of appraisal available).
– Same units, on floor 33 and 32 are listed over $1.25 Million – YOU WOULD COME IN WITH A SHORT TERM (12 to 18 months) UPSIDE POTENTIAL OF $350,000
– Tower II will be closing in 6 months, prices are 25-30% higher
– The avg price per SF in the comparable is $573
IF YOU ARE INTERESTED OR KNOW OF SOMEONE WHO COULD BE, PLEASE EMAIL ME OR CALL ME AT 954-336-4255, OR CONTACT ASHTON
trump tower 2 unit 3401
NW , N, NE, E, SE, AND S VIEW. WILL GIVE GREAT PRICE.
CONTACT MD @3ANYC.COM
cell conact 1-917-572-4928
I feel for you buyers in the trump towers sunny isles.
Wow was that project caught in the bubble!
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