For So Many Reasons, The Cloisters Is The Place To Buy
May 1, 2009The Cloisters On The Bay is the perfect gated community for those people who want real value in today’s market. Prices have been steadily falling and almost all of the units on the market have been reduced by more than $100,000. There are 12 units on the market in here which is quite a lot considering that there are 40 total. This high percentage of properties for sale contributes to the low prices because the villas are VERY similar to one another and the only way for owners to compete is price. I love it because it means great deals for my buyers.
The Cloisters consists of 40 total villas that run along either side of the main road. It was built in 2005 and all units feature top of the line finishes and appliances. Aside from personal touches, they are all turnkey ready. Several are located right on the water while others have views of the water from their rooftop terraces. There is a beautiful pool, tennis court and clubhouse in the community. All have a 2 car garage on the bottom floor which provides protection to the rest of the house against flooding, and all have hurricane impact glass.
The Cloisters is located in the heart of Coconut Grove’s downtown district. The below photo is the view as you exit the gates of The Cloisters. I am not kidding, it truly is within feet from Greenstreet Cafe, George’s, La Petit Paris, Cita’s, Le Bouchon De Grove etc.
There has only been ONE sale in The Cloisters in the past 12 months. It was for a 5,660 square foot unit with 3 bedrooms, 3.5 baths and sold for $1,450,000.
Here are a few for sale that stand out to me……Unit #412, the owners paid $2,275,000 back in July of 2007 and now have it listed at $1,999,000. Units #1135, #1137, #204 are asking $1,350,000, these are the lowest priced units in here and are unheard of asking prices for a property in The Cloisters.
|
Unit |
Sq. Ft. |
Bds/ |
Water |
Original Ask Price |
Current List Price |
|
#928 |
6,183 |
4/4.5 |
Yes |
$2,985,000 |
$2,485,000 |
|
#412 |
5,660 |
4/4/5 |
Partial |
$2,350,000 |
$1,999,000 |
|
#205 |
5,664 |
4/4 |
No |
$1,850,000 |
$1,595,000 |
|
#1135 |
5,822 |
3/3.5 |
No |
$2,300,000 |
$1,350,000 |
|
#1137 |
4,833 |
3/4 |
No |
$2,000,000 |
$1,300,000 |
If you are interested in seeing any of the above properties, I’d be happy to set up a showing for you. Just send me a note or call me at 305.342.1623.
