Boutique luxury condominium in Islamorada launches sales
Prices range from $1.9M to $2.5M
March 29, 2016 01:00PMBy Katherine Kallergis
Aerial view of the development site in Islamorada and the existing condos on the same site
A 21-unit bayfront condominium in Islamorada has launched sales and plans to break ground on June 1.
Heaton Companies, which specializes in oceanfront residential projects, is developing Maison Residences in the Florida Keys. When it’s completed in mid 2017, the condominium will include 12 residences and the existing nine at Maison Matecumbre within the same property.
The development’s 12 new units will be spread across three buildings with prices starting at $1.9 million up to $2.5 million. Each residence will range from 2,350 square feet to 2,900 square feet and will have a private elevator, high-end finishes and appliances. Amenities will include a private beach, a day dock, swimming pool, tiki huts, and private terraces.
Ocean Sotheby’s International Realty is handling sales of the units and has secured one buyer, according to a spokesperson. That buyer owns a condo at Maison Matecumbre, at 80639 Old Highway, which was built in the 1980s.
Maison Residences follows the following deposit structure: a 10 percent note plus 20 percent in cash upon signing, 10 percent upon groundbreaking, 20 percent at topping off and the balance at closing.
The development is located across the street from Islamorada Marina, a newly completed full-service marina. Islamorada stretches from Tea Table Key to Plantation Key and is about a 1.5-hour drive from Miami. Developers have been active in the area in recent months. New projects in the works include the redeveloped Whale Harbor Buffet, an oceanfront eco-resort called Islamorada Ecolodge, and the redevelopment of a 7-acre oceanfront RV park.
Writer Carl Hiaasen listed his Islamorada home last week for $3.4 million.
Heaton Companies also has properties in Vero Beach, Vermont, New Hampshire and North Hutchinson Island, which is in St. Lucie County in Florida.
Source: The Real Deal