Uber-Luxe Condos in South Beach Now Flirting With $3,000 a Square Foot Pricing Power

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According to a new report from Peter Zalewski, principal of Bal Harbour-based Condo Vultures, as buyer are now coming to grips with the potential of paying $2,000 per square foot for ultra-luxury condos in the tricounty South Florida region, a small contingent of sellers is now attempting to raise the pricing threshold to more than $3,000 per square foot for the most "fabulous of fabulous" highend condo units.

As of June 29, there are four condos on the resale market with an asking price of at least $3,000 per square foot, according to an analysis by the licensed Florida real estate brokerage CVR Realty.

An additional three units are being marketed slightly below the $3,000-per-square-foot benchmark with pricing between $2,950 per square foot and $2,999 per square foot, according to the analysis using Florida Realtors data.

Fisher Island, an enclave just south of Miami Beach, is home to three of the four condos on the South Florida resale market at more than $3,000 per square foot.

The fourth South Florida condo marketed at more than $3,000 per square foot is located on Ocean Drive in the South Beach neighborhood of Miami Beach.

All three of the condos on the market between $2,950 and $2,999 per square foot are also located in South Beach, according to the data.

In Broward County, where Fort Lauderdale, Hollywood, and Pompano Beach are located, there are three condos on the resale market with an asking price of $1,000 per square foot to nearly $1,250 per square foot, according to the data.

In Palm Beach County, where Boca Raton, West Palm Beach, and Palm Beach Island are located, there are six condos on the resale market priced between nearly $1,200 per square foot to more than $1,830 per square foot, according to the data.

This is a list of the condos currently on the market in South Florida with an asking price of at least $2,950 per square foot:

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