Jade Signature Completed, 23 Percent of Building for Sale and Latest Developer Sales Prices Revealed

Jade Signature in Sunny Isles Beach has finally arrived! Designed by Pritzker Prize-winning Swiss architects Herzog & de Meuron and developed by Fortune International Group, this oceanfront property in Sunny Isles is the latest of four Jade brand buildings in South Florida so far.

Jade Signature in Sunny Isles Beach

CondoBlackBook has obtained records of a number of the first closings from the developer pre-construction sale to buyers here to share with you. Here are the 82 of 192 units that have already been recorded as sold, with many more to come in this 95% sold out Sunny Isles condo building. (We obtained the below list of sales from Gridics and Miami Property Appraiser website.)

Here are a sample of the units and prices per sq ft that we were able to pull.

Based on our research an overwhelmingly large percentage of the units have been bought in the name of corporations, trusts or LLCs which makes sense given that the likely pre-construction buyer of this condo was a foreign national, investor or someone buying a 3rd or 4th home and not eligible for any tax savings as an individual (individual tax savings are typically reserved for primary and second homes).

There are already 44 units listed for sale at Jade Signature between 800,000 for a 1-bed/1-bath all the way up to $32 million for the most expensive listing in Jade Signature, for an 11,000+ sq ft penthouse. These current sale listings, with an average list price of $1,627 per sq ft, represent a whopping 23% of the total units in the building.

Jade Signature #4101 for Sale

Jade Signature #1501 for Sale

Jade Signature #4505 for sale

Jade Signature #505 for Sale

This does not bode well for the sellers, as competition will be stiff. In our latest Sunny Isles Beach luxury condo market report, there were 58 months of inventory available which is about 5 times normal, so Jade Signature sellers are also going to have stiff competition in the neighborhood.

So far only one unit at Jade Signature has been listed for sale below the preconstruction purchase price. Unit 4105, a 2931 sq ft three bedroom, four-and-a-half bath unit, is currently listed at a cool $5M a 6.6% discount from its $5.35M purchase price.

Jade Signature #4105 for Sale

With 58 months of inventory available currently in Sunny Isles for luxury condos, we wonder how many of these original preconstruction buyers at Jade Signature are going to come out above break-even when they finally sell. For buyers that resisted buying during preconstruction, your wait may have been worth it as you may end up buying at a bigger discount than some of these pre-construction buyers after all.

If you want to give it a test drive, there are currently 4 rentals at Jade Signature residences you can rent starting at $8,000 per month for a one-bedroom two-bathroom 1,378 sq ft condo unit. The largest unit available for rent is a 3,465 sq ft four-bedroom five-and-a-half bathroom unit listed at $16,000/month.

Notable Buyers in Jade Signature

• Pfizer CEO Ian C. Read bought a 6,753 sq ft sky villa in Jade Signature for $13M
• The CEO of UnitedHealth Group in Brazil Claudio Lottenberg purchased a five-bedroom unit with 4,738 square feet of interior space, plus 1,500 sq ft terrace in for $6.43M
• Former Chubb insurance chief John Finnegan bought a unit for $7.8M
• Brazilian soccer star Douglas Costa

Learn all you need to know about Jade Signature here.

Jade Signature in Sunny Isles Beach