Apogee Unit Asking Too Much?

South Beach is home to some of the most exclusive real estate properties anywhere in the world. Hundreds of haute investors flock to this tiny Island community every year seeking luxury condominiums.  And while a good number of luxury properties are currently available, there are very few that can compare to the available units inside the Apogee (one of South Beach’s most exclusive properties).

The Apogee sits on the Southern most tip of South Beach. Here, luxury condo seekers can find a gorgeous 7,300-square-foot apartment for sale that sports a 3,400-square–foot wrap around terrace, seven bedrooms, six full bathrooms, and two half baths. The asking price…$17.5 million. And though the unit may be every condo owners South Beach Fantasy, the asking price is more in tune with fantasyland than the land of reality.

Let’s be honest, anyone who is willing to spend that kind of money on a condominium is going to want to customize the unit. With that in mind, it could easily cost an addition million or two on top of the original asking price.

Experts expect that the luxury unit could take at least one or two years to move, and that’s with couple of price reductions tossed in the middle.  However, South Beach is the type of Island that oozes sex appeal, and all you need is one investor to fall in love with that sex appeal and bam…unit sold. Happy hunting everyone.