Louver House Going Vertical With First Concrete Pour and 50% of Units Under Contract

Gridics Staff February 26, 2016 Development Pipeline
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Louver House, a 12-unit boutique luxury condominium project in South-of-Fifth (a development type that has become something of a thing in the neighborhood, with buildings like Ocean House, 321 Ocean, Glass, 300 Collins, etc.) is going vertical, with the completion of its first concrete pour. Half of Louver House's units are under contract, according to representatives of the project. It's being developed by Mast Capital, and designed by architect Rene Gonzalez, and should be completed in the first quarter of 2017. 

Prices for Louver House's twelve units range from $2.5 million to $3.9 million, and for all that bread you a brand-new boutique building with all the trimmings, like large, flow-through units, private elevators, a rooftop infinity pool, a fitness center, and a full time residential manager. Units range in size from 2,107 square feet to 2,432, not including balconies and roof terraces.

At first glance the price tags may look significantly above the median price of nearby recorded condo sales in the last year, and the $714,000 median price of currently active sales. Prices per interior square foot at Louver House range from $1,186 to $1,603 (not including balconies and roof terraces), above the median price per square foot of the area of $788 but not so far above the average price per square foot of $1,150. The building is right in line, however, with units of the same size for the area. So, definitely up there, but for all that bread you get a brand-new boutique building with all the trimmings, like large, flow-through units, private elevators, a rooftop infinity pool, a fitness center, and a full time residential manager.

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