Oceana Key Biscayne Marked the 9th Completed Project
Oceana Key Biscayne has successfully being completed marking the 9th project east of I-95 finished since the new cycle of construction began in 2011. Oceana sold 34 units in the first 10 days of closings with nearly 97,700 square feet of livable space for more than $139 million, according to Miami-Dade County records. Units in the two-tower complex have transacted at an average price of nearly $1,425 per square foot, with individual condos trading from between about $915 per square foot to about $2,100 per square foot.
Oceana Key Biscayne is the first of two new South Florida luxury condo projects being developed by Argentina-based Consultatio led by Eduardo Costantini. Overall, more than 95 percent of the nearly 5,165 condo units located in 68 condo associations in Key Biscayne were developed between 1964 and 2002. Currently, more than 135 condo units are available for resale in Key Biscayne at an average asking price of about $755 per square foot. In the first seven months of 2014, buyers have purchased nearly 130 condo units at an average price of about $631 per square foot, according to the Southeast Florida MLXchange. Of the condos presently on the market, only one unit in Oceana Key Biscayne has been listed for resale at an asking price of more than $2,110 per square foot, representing more than a 30 percent premium over last week’s original purchase price. * The Real Deal
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