Amaray Las Olas
215 SE 8th Avenue
Fort Lauderdale, FL 33301
Now Leasing. $2049 for a low floor studio. $8,544 for a 2038 sq ft. To give some perspective, a 30 year mortgage at 3.92% with 0% down on a 1.5M condo would be $7,092 a month. A 4th floor studio is priced at $2049 and is 847 sq ft. A $400K condo with 0% down would have a mortgage of $1891. Of course condos have monthly dues as well, but you also gain equity as time goes on. These are incredibly expensive apartments.
They're being very stupid about marketing the building. It's truly amazing that Real Estate is still run by the Realtors Association cartel and that building owners continue to lose bundles of money conforming to them. The still operate like its 2003; I really have to sign up with some real estate broker to see a floor plan?
They could fill this building must faster by cutting out the RE brokers altogether and putting up an in-house web site. Every single person that wants to rent will happily bypass the commission to lease direct. These developers are so stupid its unbelievable.
Put up the floor plans, the prices and the available units.
A couple of samples:
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If you were wondering what they're building behind Big City Tavern; it's going to be a 30 floor "ultra-luxury" rental residence; the first true high rise downtown dedicated to renters. construction is expected to be completed by December 2015.
Arguably, rentals are better for the community; if they can rent 262 luxury apartments. Condos are often purchased by wealthy foreigners who don't live in the place; while renters do. One thing that it will definitely do is drive down the rents that condo owners are currently getting.
You can see the construction in our webcam; we'll be following the progress and posting photos here.
Construction as of 11/26/14:
Construction as of 1/08/15:
Construction as of 1/27/15:
Construction as of 2/19/15:
Construction as of 4/20/15. Starting to build the parking Garage:
Artist Renderings
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