Bath Club Miami Beach: Crunching the Real Estate Numbers at 5959 Collins Avenue

Bath Club Miami Beach real estate I’m a very connected guy. I don’t mean connected in a way where I know people (well, I do know people); but I like to keep my ear to the ground. I noticed that a lot of new listings were coming on the market at the Bath Club in Miami Beach, so I decided to run some numbers and see what was going on there.

In the last 30 days, 11 listings came on the market. That may not sound alarming but with only 112 units in the development, it certainly caught my attention. As of today, there are 36 units on the market, which represents 32% of the condominium. A balanced real estate market dictates that about 10% of the condominium’s units could be available for sale at any given time.

Next, I did some numbers of actual sales activity in the Bath Club:

Pending sales: 2

Number of condo sales in last six months: 0

Number of real estate sales in the last 12 months:

  1. #1507 $2.25M
  2. #1203 $2.35M
  3. #1802 $2.4M
  4. #1502 $2.4M
  5. #704 $2.2M
  6. #606 $1.99M
  7. #1001 $1.15M

New real estate listings for sale at the Bath Club Miami Beach within the last 30 days:

  1. 5959 Collins Avenue # PH 2005
  2. 5959 Collins Avenue #1504
  3. 5959 Collins Avenue #1004
  4. 5959 Collins Avenue #1503
  5. 5959 Collins Avenue #1404
  6. 5959 Collins Avenue #904
  7. 5959 Collins Avenue #607
  8. 5959 Collins Avenue #1508
  9. 5959 Collins Avenue #1708
  10. 5959 Collins Avenue #1008
  11. 5959 Collins Avenue #908

This data is based on information obtained from the Southeast Florida Regional (SEFR) MLS or from the associations participating in the SEFR.

To view all the listings at the Bath Club Miami Beach, click here

  • Pavel

    Does anyone know what would occur if the building in this case would be short on the homeowners association fees. What would happen to the other owners? Would they have to pay the difference?


    The HOA is normally permitted to short term borrow from the reserves to cover operating expenses, until the units are sold. I’m assuming you are thinking that some of the owners may not be paying their dues until the properties are sold. That is not normally the case though. Most people continue to pay their dues until the property is sold.

    When the HOA borrows from reserves they must have a plan to repay the reserves, usually within 12 months.

    My guess is you might see less clean towels at the bath house for awhile :) That’s a joke. Don’t want to spread any rumors.

  • Kevin Tomlinson

    I believe all but three or four units are sold. The developer must pay the maintenance fees on the units he still owns. All of the owners at the Bath Club are pretty wealthy group. I don’t have any reservations about the health of the condo association, in this particular case.

  • Julian

    Kevin – I know real estate prices are stickier than we’d all like (we all, you know, I mean buyers!), but with a 1/3rd of units for sale, why aren’t these being priced more realistically? Do people think any of it will shift!?

  • Lee Paset

    I t appears that a most recent sale of an 01 unit @ 650,000. was far more realistically priced. When owners want to sell they analyze numbers and recent sales which speak for temselves! Some of those units have been for sale even before the structure was built.