HILLSBORO BEACH, FL, May 23, 2009
/24-7PressRelease/ -- Some commuters to Manhattan own pied-à-terres in the city so they can spend part of their work week there without making the long drive home. Conversely, many New Yorkers and New Jersey residents own weekend retreats by the shore. The same is true of New Englanders and residents elsewhere who live within driving distances of the U.S. coast. It's their payoff after a busy week.
"In South Florida, a similar trend - which kicked off during the construction boom in the early part of the millennium - stands to become strong again as we come out of the recession," said Vic Martucci, vice president of land & diversification for Marrano/Marc Equity Corporation. "It's not unthinkable for someone living in a private country club community in the central or western suburbs of, say Boca Raton, to purchase a new condominium on the ocean or Intracoastal as a second residence," he said.
"What's more, Martucci continued, "today, with prices of new waterfront condominiums reduced as the market makes a correction, there's never been a better time to buy your own waterfront weekend getaway. As an example, at 1200 Hillsboro Mile in Hillsboro Beach, you can enjoy the best of both worlds - you'll remain in your primary home during the week, and vacation at this eastern coastal retreat where you can really kick back and escape from weekday pressures, without having to travel a significant distance. Time is a commodity that we truly value, and so is one's quality of life."
Martucci isn't referring to a rental or fractional ownership resort property that is transient, where you don't know who occupied it before you did. "When you buy your own, new luxury condominium, you and your immediate family become the sole occupants, or you can open it to visiting family, friends or business associates when you aren't using it," he explained. "You can personalize the decor so it becomes a real 'home away from home.' And, later on down the road, if you decide you want rental income, you can lease it out according to the home owners association rules."
Martucci also believes the South Florida condo market is on the brink of a new wave of buyers, including people a few years away from retirement who plan on using their condo for weekends and then as a primary residence after retiring.
"1200 Hillsboro Mile epitomizes such a place. It offers a premier coastal address along The Mile, a prestigious residential area between Boca Raton/Deerfield Beach to the north and Pompano Beach/Fort Lauderdale to the south. While the town of Hillsboro Beach is small and the setting is quaint, every imaginable convenience is just minutes away," he said.
An 11-unit building with direct Intracoastal access is completed. Prices are from $599,900 to $1,149,900. Floor plans offer a total of 2,000 square feet each, including oversized, "livable" balconies, upscale interior appointments and sweeping panoramas.
Building amenities range from an inviting lobby with Key West/British West Indies-style decor, a media/club room with a furnished, outdoor entertainment terrace, and pool house and pool, to a fitness center, dock for visitors that can accommodate two crafts up to 50 feet, and private ocean/beach access. Home owners association fees are much lower than those in larger, "fully amenitized" condominium buildings, Martucci pointed out.
Marrano/Marc Equity has secured access to mortgage financing for qualified buyers who want it. Interest rates are historically low as well.
Another selling point is that 1200 Hillsboro Mile is the only new construction in the area. Because waterfront land is rare and therefore very desirable, this is a limited purchase opportunity.
Marrano builds distinctive single-family homes and patio homes in the Western New York market, in addition to condominium communities in South Florida, and $500,000 to $3 million estate residences in some of the most prestigious waterfront and county club communities in West Palm Beach and areas to the north.
For more information, call Director of Sales Kathleen Cunningham at (954) 418-8033, or visit http://www.1200hillsboromile.com.
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