If you ever wanted to buy a fontainebleau condo and have monitored the market in the building, you probably realized that, even though prices decreased significantly, any fontainebleau condo faired much better than other condos in the area.
As of this writing there were 47 fontainebleau condo units listed for sale in the South Florida MLS. 10 are currently pending sale and 41 have been sold in the previous 12 months.
There are many reasons why you might be attracted to a fontainebleau condo, amongst them are:
- Hotel rental program
- Location (right on the beach)
- Liv Nightclub
- Amenities like their state of the art spa and pool areas
There is really something to do for almost everybody without ever having to leave the grounds of your very own fontainebleau condo.
The only drawback I see, is the fact that condo hotels are not for everyone. For one, they generally have fairly high monthly maintenance fees, in case of the fontainebleau condo hotel, maintenance fees very depending on whether you are looking at Sorrento or Tresor, however they are approximately twice as high as in a regular condo of the same size. Of course most condo buildings can’t compete with the amenities your fontainebleau condo will offer.
Another downside – albeit it is hardly a downside in today’s market of all cash buyers and all around tough condo financing – is that it is next to impossible to obtain financing on a condo hotel, therefore you not only have to pay cash for your fontainebleau condo, but also need to find a cash buyer, should you ever plan on reselling it.
If that doesn’t bother you, the benefit of owning a fontainebleau condo, aside from the obvious – being able to hang out at the fontainebleau whenever your heart desires it – is that you can enjoy your condo and at the same time offset all or at least the majority of your ownership expenses through rental income from the fontainebleau condo hotel rental program. Best of all, you don’t have to lift a finger to generate the rental income.
If you have questions a specific fontainebleau condo or the building in general, please don’t hesitate to contact me by filling out the form below.
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