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Shell Bay Residences | An Independent Review of its Prices, Floor Plans and Lifestyle
The Finishes
When it comes to luxury, the term can sometimes be used lightly, but the true measure of luxury is in the finishes. This project, developed by Witkoff—the team behind the Shore Club Residences, a luxury beachfront development with prices surpassing $5,000 per square foot—maintains the same exceptional standards of luxury. The use of organic materials like wood, marble, travertine, and natural stone reflects a level of craftsmanship that’s often lacking in other projects (call me for info on which ones these are). While developers often claim to deliver luxury, I frequently find the actual finishes to be subpar. However, that’s not the case here—so far, I haven’t seen any compromises or shortcuts.
The buyers of this project are also discerning, not willing to settle for anything less than the best. If you’re looking for resort-style living without compromises, this project could be a perfect fit. Additionally, we protect our buyers through their contracts and provide guidance to ensure you make the right decision.
The Floor Plans at Shell Bay
How Does it Stack Up?
Shell Bay offers a relatively boutique feel with plenty of amenities, a high level of privacy, and top-notch finishes—but how do the prices compare? The average price per square foot is around $2,150, though this can vary depending on the unit. As you’ll see below, these prices are in line with several other non-beachfront areas in Miami.
For context, condos with a similar resort-like lifestyle, such as Continuum, Surf Club Four Seasons, and Park Grove, sell between $2,500 and $4,000 per square foot, with some top units in these condos reaching close to $6,000. While this project offers a resort experience, it’s selling at mainland prices, significantly lower than the $3,000 to $5,000 per square foot you’d typically find on the beach when presented with such footprint and lifestyle options.
The Hotel Program by Auberge
When you’re not using your residence, you can rent it out through Auberge by placing it in the hotel program. This way you can enjoy an income-generating property that is handled by one of the world’s most renowned hotel brands. At the same time, you can enjoy the benefits of a five-star hotel whenever you visit, with everything prepared for your arrival.
HOA Fees at the Shell Bay Residences
One of the hottest topics right now is the rising cost of HOA fees and insurance. Since this project isn’t directly on the beach and is brand new, built according to the latest codes, it offers some advantages when it comes to insurance costs. However, a highly amenitized condo like this can only keep its costs manageable due to the presence of a hotel. The extensive amenities and services are supported by the on-site luxury hotel, which helps offset expenses.
In other developments like Park Grove and Continuum, all the costs of amenities and services fall solely on the residents, driving HOA fees higher. In contrast, this project benefits from units in the hotel program, where income from the hotel is used to support the HOA, ensuring high standards are maintained. Currently, HOA fees are at $1.82 per square foot, which may increase once the condo opens—this is typical. What’s concerning in some poorly managed condos is when fees double, but in this case, the hotel, golf course, and restaurants help absorb costs and stabilize fees.
Conclusion
Successful developments like Surfside’s Four Seasons, Continuum and Park Grove have flourished due to their large lots, prestigious brands, and premium services, leading to significant value appreciation.. Shell Bay follows this model, offering competitive luxury with unmatched resort-style amenities such as golf, boating, fine dining, and tennis. Designed for a “lock-and-leave” lifestyle, this exclusive 170-acre, private, gated community features its golf course, ensuring ultimate privacy. Developed by the creators of the Shore Club, it sets a new standard for luxury condo living at an opulent scale.
I’m very bullish on this project as it has all the right elements to be a successful condo. Please contact me for more information.
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FAQ
These are the most commonly asked Google Real Estate Related questions
1. What are the Current Best New Condos in Miami?
If you want to hear in more details our opinions on the best new Miami new construction condos. Please read this article:Best New Construction Condos 2022-2023.
2. What is the best New Construction Condo in Fort Lauderdale?
In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.
3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami?
Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!