Trump Tower I Closings to Occur 1Q 2008 in Sunny Isles Real Estate

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 take into account 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 make the adjustments 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 yet occurred in the new Trump towers they will research and look outside the building but in the immediate vicinity of Sunny Isles real estate such as Trump Palace of Sunny Isles (or similar units & square footage ) to determine value.

Trump Towers Sunny Isles Real Estate

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% 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 2700 sq feet. With a $30K or so investment into finishing the property, I find it to be very 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,

Ashton

About Ashton Coleman

Ashton is a technology & social media savvy professional who understands the industry providing white-glove service with a wealth of experience, an impeccable reputation and a keen ability to efficiently handle all facets of real estate. Ashton’s territory has grown significantly since 2002, marketing & selling extraordinary South Florida coastal real estate from Miami Beach to Lighthouse Point. A Certified Luxury Homes Marketing Specialist (Million Dollar Guild), with a multitude of other residential certifications, Ashton provides both exceptional service and unique selling techniques. His success is attributed to an unparalleled work ethic with years of experience including top-tier professional services where the ‘art of the deal’ is mastered in contract negotiations, deal-making intricacies and the end, results-driven real estate.

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8 thoughts on “Trump Tower I Closings to Occur 1Q 2008 in Sunny Isles Real Estate

  1. 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

    ALSO CONSIDER

    – 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