Just Sold by Ashton Coleman, P.A. 😍 The Royal Club #1703 Miami Beach, Florida
A super deal? You be the judge. The 17th-floor condo needed interior work and yet I had complete optimism with a value range from $950K to $1.050M. The last two (highly renovated sales) ranged from $1.050M to $1.1M and this still had popcorn ceilings, brass fixtures, and an original kitchen. The seller was a sweetheart in her young & healthy 80’s who bought the condo as new construction in 1984 for $194,000. It had been leased for the last 12 years and with no further use, decided it was the right time to move on. After relaying the value range for optimal marketing and the eventual sale, the seller’s son-in-law placed the condo on Zillow’s FSBO in which was immediately bombarded with 100+ phone calls promising the world and relaying a value range around $1.3M. Keep in mind, over 80% of the calls were KW agents which through their BOLD course (& hunger for business) call FSBO’s with aggressive tactics not only driving a seller crazy but also over-promising on what the market value truly is.
After further consulting, the agreeable market intro price was $1.129M with an anticipated promise of 145 days (I’m highly analytical for those that don’t know me.) After 116 days, the property sold to a wonderful couple looking to entertain their grandkids on the beach and with an intent to spend about $100K in renovations. It ended up being a win-win which is how I like to operate. Sale Closed. Happy People. 💪😎
PS. when a property is overpriced from where it should be, the end result is typically a lingering/stale property listing with an eventual sale price less than where it should be. This is certainly true in a buyer’s market as we see today. In a seller’s market, pushing the value limits is expected and encouraged but when there is a high supply with low demand, you must implement proper pricing and have a killer marketing strategy. All in all, I had 5 showings during the 116 days while similar inventory around $1M increased from ~7 options in January to today, 19 available Collins Avenue options. Given the work required, I strongly believe this was a super deal for both buyer and the seller.
MLS Remarks: Direct Ocean Views & TWO Balconies! The ultimate Miami lifestyle just steps from the sand, with boardwalk access and walking distance to the Bass Museum, Miami City Ballet, and New World Symphony. Minutes away from dining, shopping, entertainment, world-renowned Lincoln Road & South Beach! Nestled in the thriving Collins Park neighborhood. Neighboring properties include 1Hotel, The W, Metropolitan by COMO, and The Edition. Your home awaits at an excellent price – easy to show and easier to fall in love!
Storied Location. Exquisite Living. Remarkable Life. #888.38.DREAM.
@2457 Collins Avenue Miami Beach, Florida 33140
- The Testimonial
- MLS #A10405547
- Year Built 1983
- 2 Bedroom | 2 Bathroom
- 116 Days On Market
- List Price $1,129,000
- Sale Price $900,000 (as Cash)
- 1,389 Interior Sq. Feet (129 Sq. Meters)
- $648 SP$/PSF
- 80% of List Price (LP/SP Ratio)
- Tile Floors Throughout
- 1 Assigned Garage Space
- HOA Maintenance – $609 (Monthly)
- 2017 Taxes $12,172 (No Homestead)
- Seller Representation; from Brickell
- The Royal Club – MAP Here
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