09/21/2026
Why are un-remodeled condos on the Barrier Island in Highland Beach sitting on the market for over 180 days right now?
The reality of the South Florida real estate market has shifted. Buyers are completely avoiding un-remodeled units because the math and the logistical headaches no longer make sense for the faint of heart.Let’s break down the actual numbers for a typical 1,450-square-foot unit on the barrier island:
The initial buy-in for an original-condition gut job is around $710,000 (***depending on the proximity of partial or direct breathtaking views of the glistening ocean or lush intracoastal waterways).
To bring that space up to a true luxury standard with high-end finishes, you are looking at roughly $250.00 a $300.00 per square foot in construction costs. That adds $350,000-400,000 to your budget, bringing your hard investment baseline to $1,100.000.
But the real risk lies in the hidden variables that sellers rarely talk about:
The Timeframe: Between finalizing architect blueprints, waiting for strict condo board approvals, and securing local building permits, a complete luxury overhaul easily takes 6 to 9 months.
The Carrying Costs: While your unit sits as an unlivable construction zone, you are still responsible for paying monthly HOA dues, master policy insurance assessments, and property taxes. This drains thousands of additional dollars every month before you can even move in.
The Logistical Headaches: High-rise construction along South Ocean Blvd comes with immense friction. Strict HOA rules mean tightly restricted weekday work hours, mandatory freight elevator bookings, and severe noise constraints that inevitably drag out contractor timelines and increase labor costs.When you add up the time, the carrying fees, and the stress, the premium to buy a pre-renovated, turnkey luxury unit suddenly looks a lot more attractive. It is exactly why these older units are languishing on the market.
Marie Caradonna
Coldwell Banker Global Luxury
