About Daytona Beach Shores' Opus

There are 32 condo units for sale in Opus Condominiums, the last built condominium building in Daytona Beach Shores, and the last in Daytona area.

Developer lost the building in a foreclosure sale. Canadian investors grabbed it and are now selling units as bulk seller, not as a successor developer. Besides semantics, this could mean that if new owners will find construction defects, there will be no developer to sue for damages.

There are always construction defects and the only question is how serious they are, and how much money it would cost to fix. Developers of Opus Condominiums (at that time it was Islamorada Condominiums) are known for cutting corners, and some kind of problems can be expected.

That’s the difference between buying from a well capitalized building like Twin Towers by DiMucci, where developer is there and is not going anywhere, and is responsible for his mistakes, and Opus Condominiums where you are dealing with bulk purchaser, who, after selling the unit to you, have no responsibility to fix anything.

This is the direct oceanfront 11-story condominium building. 53 units total. Prices in Opus go from $231K for a first floor ocean view 3 bdr / 2 bath unit to $477K for a direct oceanfront 10^th floor 3 bedr/ 3 bath condo. The penthouse on the 11^th floor, combining 2 oceanfront three bedroom units (4,178 sq. ft.) is for $999,000.

Altogether there are 32 units for sale. Because the bulk purchaser bought the whole building (54 units) and they are all selling at the same time, no crazy prices here. Higher floors are more expensive, direct oceanfront is more expensive, etc. Like it used to be 5 years ago.

In other condo buildings the prices you see depend not on the floor and not even on the view as much as on Seller’s situation. If the seller can wait, the price is higher, if the Seller is losing the property if they do not sell fast, than the prices go low.

There were 15 units sold starting from $225,250 to $366,850 in Opus Condominiums. 7 units are currently pending in MLS.

If you are looking for Opus Condominiums or any other condominium on Daytona Beachside, call me 386-405-4408

This is the third post about Opus Condominium in Daytona Beach Shores. The first one Opus Condominium in Daytona Beach Shores. A Short Glimpse at even Shorter History is, as you can see, about the history, and the second one - Opus Condominium at a Glance - is more about the features.

This one presents the price list, and shows which units are already gone, and what and for what price is available. Please, note that on line D there is no unit 1104. Not a mistake. They simply combined two direct oceanfront units and made it a large (nearly 4,000 sf) penthouse.

Call me 386-405-4408 if you are interested in condos in Daytona Beach Shores or in greater Daytona area

This direct oceanfront 11-story condo in Daytona Beach Shores is the latest (and for now last) condominium development in Daytona Beach Shores and in greater Daytona area.

The condo project changed hands after it was built, the name has changed from Islamorada to Opus Condominium, and the sales started just recently.

Here are some facts about Opus Condominium.

Location: 2071 S Atlantic Ave., Daytona Beach Shores, FL 32118

Units: 53

5 units per floor.

2 units (model C and D) are 3/3 direct oceanfront. 1,951 sq. ft. Association fee $430 a month.

Units B and E are 3/2 oceanview units (B- North, and E- South). 1,814 sq. ft. Association fee $390 a month.

Unit A is a 3/2 on the West side of building, 2 balconies. 1,730 sq. ft. Association fee is $365.

Amenities include heated pool & Spa, fitness room, game room.

Ceiling is 8'8'', granite countertops in Kitchen and Baths, wood cabinets, full-size whirlpool tubs.

Parking – one space assigned in the underground garage, plus use of guest spaces on first come, first serve basis.

There are two features in Opus Condominium that can make some people very happy (and some very unhappy): 1 week minimum rental restrictions, and you can have 2 pets up to 80 lb. There are very few places with such liberal restrictions.

Call me 386-405-4408 if you are interested in condos in Daytona Beach Shores or in greater Daytona area

When on March 22, 2007 the announcement «Islamorada Condominium in Daytona Beach Shores starts construction» was made, it did not make waves. We had several luxury condos coming up, and Islamorada with its only 53 condo units was not the biggest blimp on the radar even in small Daytona Beah Shores.

Turned out it was the last condo to be built on the Beachside. Its timing was terrible, as in 2007 real estate market started showing first signs of slowing down, and by the time the construction was completed, the developer – Volusia Properties – was already in big trouble.

The building was standing empty waiting for the end of legal ramblings. I remember going to the auction on behalf of my clients, but Wachovia bank was discounting the price from $24,367,964.74 (the amount of judgment) to $16 Mil, my clients did not have any intention to jump in.

By that time there already was a group, that made arrangement with the Lender that they would take the property for $12 Mil if there were no high bidders. The group changed the name from Islamorada to Opus, put a local real estate company in charge of sales and marketing, ran the Grand Opening and started selling.

Prices range from $227,036 to $477,750 for regular units with prices going higher with each floor. Penthouse is a double oceanfront unit, and is close to 4,000 sf and is offered at $999,000.

It is interesting to compare with the prices in 2007. According to the article, «Prices start at $500,000». It is less than 50 cents on a dollar now.

Sales are better than I expected, and the list that I have shows 11 units sold. An excellent sign of life coming back to the Beachside. Last two days I was showing Opus to two different clients. And as one of my clients said, Opus has everything at bare minimum. It does not have the grandeur posture of Ocean Vistas, not the elaborate beauty of Bella Vista and Palma Bella, but at lower prices, it does quite well. At higher floors and direct oceanfront it sure has competition, but Opus is the only condo development where the the new owners are selling all units in the condominium, and who has the sign outside, which work wonders.

Other condos have some units on resale, and are not allowed to have large outside developer signs. Clients, who are wowed by the Ocean and River views, may not even understand that when they get into $400K price tag, there are other condos, which could easily win over Opus with their quality of construction, size, and level of luxury.

And this is the reason that buyers could benefit from working with me. I am not selling Opus, or Bella Vista. I am helping you to make the best choice considering your resources and preferences. In some cases it will include Opus, and in some it won't. Like my last two clients that I showed Opus among other condo buildings in the area. One has presented the offer for a condo in Opus, and the other one passed in favor of another building.

You are always the one who decides what to buy. I only give you information, which makes your decision an informed one.

If you are interested in condominiums in Daytona Beach Shores or Daytona area, call me 386-405-4408.

Actually, this is a new name but not a new Condominium Building in Daytona Beach Area. Recently Islamorada Condominiums in Daytona Beach Shores were sold to Canadian Investors, and they are changing the name to Opus.

The investors bought it for about $12 Mil, which is half what the original developers Jim Mack and Alan Koch owned to Wachovia Bank.

Exit Realty of Daytona will be handling sales. Prices start from low $200s and as of now I do not know how high they will go. Hope the sales will be brisk. Hate seeing an empty brand new building right on the World’s Most Famous Beach.

Read more about this condominium in Daytona Beach Shores in my relatively recent blog How To Buy 53-unit Oceanfront Condo Building for $100