About Daytona Beach's Aliki

Aliki & Ocean Ritz condominiums in Daytona Beach were built with a year difference. Aliki in 1973, and Ocean Ritz in 1974. 70s were the period of construction boom in Daytona Beach area and 70s have pretty much shaped the Daytona skyline for decades.

At that time both buildings bore Aliki name, which is the name of developer Andy Xepapas's wife. And every building he erected is Aliki: Aliki Condominiums, Aliki Forum, Aliki Atrium, Aliki Tower, etc.

Location of condominium buildings is excellent. They are right by the border with Ormond Beach, very close to Belle Aire Shopping Plaza anchored by Publix Supermarket and with tons of other stores and restaurants in the immediate vicinity it is very convenient for people even without a car.

The 21-story buildings look identical, but later built Ocean Ritz differs in small details, and, for example, all 4 corner units have inside laundry plus a laundry on the floor for two other units, while in Aliki there is no inside laundry, only on the floor. All units in both buildings are 2 bdr/ 2 baths. In Aliki they actually split 3 units and made three 1- bdr and three 3-bedr units.

Each floor has 6 units. Line 01 and 02 are direct oceanfront 1,330 sf units. They are corner units with excellent panoramic views. Line 05 and 06 are identical units facing the river and either north or side and they also offer excellent views of the Ocean. Units 3 and 4 are the only units, which are not corners, but they also offer excellent views. They are slighly smaller.

All odd numbered units are on the north side of the building, and all even numbers are on the south side.

Minimum rental period is 3 months, pets are allowed but the weight is restricted. Keep in mind that dogs are not allowed on Daytona Beaches, so walking with your beloved pet on the beach is out of the question.

Secured entrance, outdoor pool, exercise room, social room with kitchen, CAM manager on-site. Underground garage with one space assigned and extra parking on the ground level on first come- first-serve basis, but do not worry, there is plenty of parking and I never heard of a problem to find a spot for your second car, It is not New York, and you would not need to set and wait till someone drives away and frees the parking spot.

Both buildings feature a lot of glass. Actually, it is all glass floor-to-ceiling, and sometimes it is a challenge furnishing the unit. The balconies wrap around the building, and though not wide, they are very long, just a bit short of jogging.

Intent was clear: to open as much view as you can. And yes, all units have excellent views of the ocean and the river (except for the first few floors). However, the buildings might offer not the best insulation both in terms of temperature, and sound, bringing down the level of comfort, especially for units on lines 05, and 06 with a lot of western exposure.

Having one pane black aluminum anodized glass windows and sliders frames adds to the problem and they get very hot. If buying, it might be the most needed upgrade, but considering that all outside walls are glass and glass, and that you need to replace it with hurricane proof windows and doors, it is not a cheap fix.

Prices are incredible. I use this word a lot lately, but they truly are incredible. Compare them with prices just a year ago. We were selling units there 10-11 years ago for more. Actually, we never sold there anything for less than $200K. Here is the list of units for sale in both buildings as of today, May 9, 2011.

If interested in vacation condo in Daytona Beach area, call me or shoot me an e-mail.

Aliki Condos in Daytona Beach - 10 to choose from.

If you drive north on Atlantic Avenue in Daytona Beach before you get to Ormond Beach, there are several high-rise oceanfront condominium buildings. Aliki Condominium is at 2828 N Atlantic Ave.

This 120-unit Condominium was built in 1973 by Andy Xepapas and was given his wife’s name. It is one of the most popular condominiums in Daytona Beach.

Three months minimum rental restriction, pets are allowed. The 21-story building has undergone substantial renovations recently, and is now ready to please owners and guests.

2 bdr/2 bath units have floor-to-ceiling windows and wrap around balconies. Views of the ocean from any unit in the building and view of the river from the 6th floor and above.

Prices in 2005 reached $475,000. Today the lowest priced unit on the South side is only $189K. Unit 1504, which was sold in 2005 for $475,000 (not even direct oceanfront) is now for sale for $299,000, but by today’s standards it is as high as $475,000 in 2005. And at $299,000 this unit is the highest priced listing in the building.

My eyes have not used to these numbers. I have forgotten these prices. When I had a distressed sale there a couple of years ago, and the Listing was for $329,000, we all thought that it was dirt cheap.

It is funny how time changes the perception. 3 years ago I was offering an investor an oceanfront condo for $212 a sq. ft., which was an absolutely lowest price in the area, and he was saying that he would not buy for more than $150 psf. I thought he gotta be crazy, as how could that be. Now we do have prices at $150 psf, but the investors are afraid of $150 now as they were of $250 2 years ago.

P.S. When you read it, you can easily change the tense. Because soon it will become the past tense. And we will be talking about how one could buy a condo for only $150 psf, and didn’t. And everyone would be thinking, why?

Does it make sense to buy for $145 psf while the prices were $365 psf? Of course. But if you noticed, I am not saying they will be $365 psf. I am saying that they WERE at $365 psf, and it is not that we do not know whether they WOULD ever go back, they would. What we do not now is WHEN.

Remember the crisis of the 80s? Nobody would ever buy; the prices will never go back again… ever… But they did. Did they stop there?

No, they went way higher.

If you are looking to take advantage of low prices, give me a call at 386.405.4408

ALIKI & OCEAN RITZ CONDOMINIUMS IN DAYTONA BEACH

These sister condominiums on the Atlantic Ave, at the north end of Daytona Beach right by the Ormond Beach border, are always very noticeable.

The developer - Andy Xepapas - as the legend has it, called the first one Aliki Condominiums built in 1973 in honor of his wife Aliki. There are several condos developed by Xepapas, and they are all Alikis: Aliki Tower, Aliki Forum, Aliki Atrium...I heard that Ocean Ritz was initially also called Aliki, but changed the name when developer sold the project.

Was it a sign of love? I can only guess today.

The developer obviously loved light and sun, and all his projects have plenty of both. Basically, Aliki and Ocean Ritz Condominiums are glass 20-story towers with wrap around balconies and glass from floor to ceiling. I don't think this is the most elaborate architecture, but they still look great.

Each floor has 6 units, with the numbers going from direct oceanfront (north-east corner) #1, then one middle unit west of it - #3, and then north-west corner unit - #5, and then another row of units 2,4, and 6.

Practically all units are 2/2, corner units are 1,330 sf, middle units are a bit smaller. All have gorgeous views of the ocean, and from the 7 floor - the Intracoastal.

Even though they look identical, Ocean Ritz, built one year later, is different in that all corner units have hook-ups for washer and dryer inside - a rarity at that time. They also have a coin laundry with two washer and two dryers on each floor. The balconies are not really wide, but very long and run uninterrupted the whole length of the unit, which for corner units is quite a distance, and you can jog if you do not want to get down to the beach.

Amenities are pretty standard. Social room, gym, pool…

Location of the buildings is perfect. This is a well developed area of the beach with Bellair Plaza (a major are shopping center anchored by Publix) is walking distance, and this is the area of the best restaurants in town. You can call it a restaurant row.

Presently there are 16 units for sale in both buildings: 9 in Aliki and 7 in Ocean Ritz, starting from $189,000 for a corner unit (not oceanfront) and up. The lowest priced direct oceanfront is $300,000. Have to admit that I have not seen prices for less than $200K for a very long time. The units there were selling at over $500K at the leak of the market.

But do not bet on these low prices, it is the only unit for that price, next lowest is $209K, and inventory is half of what it was just a year ago, so these prices are not going to stay.

Thinking of a place to call home in Daytona Beach area, or just a vacation spot on the ocean? Call me 386-405-4408

Aliki Condominiums
2828 North Atlantic Ave
Daytona Beach, FL 32118.

120-unit Condominium built in 1973 is one of the most popular condominiums in Daytona Beach. 21-story building has undegone substantial renovations, and is now ready to please owners and guests.

2 bdr/2 bath units have floor -to-ceiling windows and wrap around balconies.

3 months ago our listing there was the least expensive in the building at $324,900. We had several showings but no real takers. My client can't reduce any more, as he has a mortgage and reducing would mean taking a short sale route, and he does not want to do it.

On the left side of the table are today's listings, starting from an astounding $225,000. These prices were in 2003. On the right side I am showing for what units in this building were selling at the height of the market (that's the reason I am showing the dates). The Solds do not correspond to the units for sale now, these are simply 8 last units sold in this building (notice that there are still high priced units there), and the actual sales of similar units.

This least expensive unit comes at $181 per sq. ft. What a difference from $450-$500 per sq. ft. that we saw just 3 years ago. But let's not fool ourselves that the prices are on a free fall. $180 is a construction cost for an oceanfront condo nowadays. If this is not the time to buy, then when?
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Unit #	Condo	Bedr	Baths	Size	Asking		Sold	Date
404	Aliki	2	2	1240	$225,000		$475,000	8/1/2005
306	Aliki	2	2	1330	$296,000		$429,000	7/25/2006
206	Aliki	2	2	1330	$299,000		$419,000	10/14/2005
1705	Aliki	2	2	1330	$324,900		$400,000	8/19/2005
1903	Aliki	2	2	1240	$350,000		$399,900	9/9/2005
1202	Aliki	2	2	1330	$399,999		$399,900	2/13/2007
101	Aliki	2	2	1330	$402,000		$392,850	5/27/2005
902	Aliki	2	2	1360	$410,000		$390,000	11/30/2004