1200 Hillsboro Mile prices won’t be this low ever again

From: The Adler Network
Published: Wed Apr 21 2010

Real estate industry pundits say there has never been a better time to buy because of abundant inventory, reduced prices, and continuing low mortgage rates.

Purchasers at 1200 Hillsboro Mile, a new boutique condominium on the Intracoastal Waterway along The Mile in Hillsboro Beach, Florida, are benefiting from these market conditions. In addition, they have purchased new construction on the water in an area where there is no other new construction available. This makes their new condominiums rare as well, thereby increasing their desirability.

"Realizing that the current reduction in prices won’t last forever, astute consumers have been responsible for a boost in activity at 1200 Hillsboro Mile this season," said David DePaolo, executive vice president of land & development for Marrano/Marc Equity Corporation. Marrano/Marc created what DePaolo calls "the jewel of Hillsboro Beach" that now stands – and stands out -- along this prestigious coastal area.

An 11-unit Intracoastal building is completed and partially sold and occupied. Offering direct Intracoastal Waterway access, it features three-bedroom, two and one-half bath residences that average approximately 2,000 square feet, including large terraces.

According to DePaolo, prices are from $649,900 to $999,000 in that building. A second building, with 18 oceanfront residences, is planned. Residences are offered, in the pre-construction phase, from $1,295,000 on the ocean side.

"These are extraordinary price points, and I assure you, this pricing won’t ever be seen again," DePaolo noted. "Though recovery is taking place slowly in South Florida, the market has improved. People interested in a property shouldn’t wait on the sidelines and hope prices will go even lower. I don’t think they will. It is the best possible time to take advantage of current low pricing, such as that offered at 1200 Hillsboro Mile."

He also pointed out that Florida remains a great place to vacation, which is why vacation homes should retain their popularity over the long run. Furthermore, a giant influx of retiring Baby Boomers are certain to create demand for homes and condos in the South Florida market.

"People who vacation and retire here want to be near the water, and vacation-home buyers seeking an unhurried, laid-back waterfront lifestyle are hard pressed to find a better address – or price -- than 1200 Hillsboro Mile," added Nita Summers, associate broker with Keyes Company Realtors at Mizner Park in nearby Boca Raton.

"This is the area’s only new residential construction. The residences are spacious, with open floor plans. They have stunning interior appointments and are move-in ready. Plus, the low pricing make these condominiums a ‘must have.’" Summers said. "Monthly fees are low as well, when compared to much larger, full-service buildings. And, in addition to pricing these residences appropriately for the market and providing exceptional value, Marrano/Marc can secure access to financing for qualified buyers. So 1200 has everything going for it."

Residents in the Intracoastal building enjoy an inviting Key West-inspired lobby, media room with an entertainment deck, fitness center, pool and pool house, Intracoastal and private, deed beach access, and dock space for visitors’ crafts (up to 50 feet).

Presenting a quaint, small-town ambiance, Hillsboro Beach is only minutes from Boca Raton and Deerfield Beach to the north, and Pompano Beach and Fort Lauderdale to the south. In 30 minutes or less, residents can be at the Fort Lauderdale/Hollywood International Airport and Port Everglades.

Marrano/Marc Equity Corporation is the number-one builder in Western New York and among the Top 300 builders in the country. The company has completed multi-million-dollar projects in New York, South Florida and Boston. Among those in South Florida are custom estate homes at Old Marsh, Old Palm, Tesoro, BallenIsles and Ibis Country Club, and luxury condominiums at Jupiter Ocean Grande and 1200 Hillsboro Mile.

For further information, visit www.1200hillsboromile.com or call (954) 418-8088 or (561) 706-1918 for a private tour.
Company: The Adler Network
Contact Name: robinbell
Contact Email: robin@theadlernetwork.com
Contact Phone: 561-206-6081

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