The Real Deal Miami

Spec home construction on rise in SoFla

November 25, 2013 02:15PM

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800 South Ocean Boulevard

800 South Ocean Boulevard

Speculative home builders have returned to South Florida in a big way, a sign of sector confidence that the region’s housing recovery is legitimate.

Builders abandoned the strategy of constructing a single-family residence without a buyer locked down after last decade’s housing collapse. But a paucity of for-sale inventory has companies like Landmark Custom Homes bringing speculative development back as 2013 winds down, the Sun-Sentinel reported. Landmark plans to build Palazzo Paradiso, a 24,000-square-foot mansion, in Southwest Ranches.

Up north in ritzy Manalapan, developer Patrick Carney has finished construction of a spec residence at 800 South Ocean Boulevard. The 18,000-square-foot mansion is currently listed at $45 million. Carney already sold a spec home on an adjacent property for nearly $25 million to prominent motivational speaker Tony Robbins.

Residential observers say speculative construction is always risky, but high-end projects on waterfront sites should succeed in the rising market. [Sun-Sentinel]Eric Kalis

  • markhel
  • randykenny

    Home construction in South Florida has gained high momentum in this year and builders are racing to fulfill the demand of customers. According to several land reports, the real estate market shows the great sign of growth for builders as prospective home buyers to get deal in best price. Continuous efforts are made by renowned builders to construct new residential homes within small space along with modern comfort. If you are hunting for new built home in the beautiful setting of South Florida, I have seen Linkedin profile of Leonard Albanese who has been constructing customized homes from last three decades.

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