Top selling luxury condo buildings in Broward in 2017February 3, 2018
L’Hermitage, Las Olas Beach Club and W sold the most
2017 was a tough year for luxury condo sales in Broward County , but there were a handful of standouts.
L’Hermitage, a two-tower beachfront development at 3100 North Ocean Boulevard, sold the most in terms of sales volume last year, according to The Real Deal’s analysis of county records. Seven deals there totalling $20.7 million closed in 2017. The development was completed in 1997 and 1998, and includes more than 450 units.
The top three selling buildings are in Fort Lauderdale. After L’Hermitage, was the Las Olas Beach Club, where nine sales totaling $18.6 million closed. The beach club, at 101 South Fort Lauderdale Beach Boulevard, was developed by the Related Group in 2006 and has about 150 units.
The W Fort Lauderdale, a Related Companies project, reported the third-highest sales volume for luxury condo sales in 2017, at $16 million. Fourteen sales closed at a median price of $1.16 million, according to the data.
Overall, the county recorded 311 luxury condo sales totalling $311.2 million in 2017. From October through December, the median sale price for condos in Broward was $1.46 million.
That represented the highest median price for the year, but was still lower than the same period in 2016. The second quarter of 2017 was the most active of the year. Nearly 100 units sold for $143.9 million.
The most expensive condo deal of the year was the $4 million sale of unit 2201 at Harbourage Place. A relative of Philadelphia business magnate C. Graham Berwind bought it.
Bulk sales were excluded from this analysis. Luxury is defined as $1 million and up.
Source Release by The Real Deal South Florida