Oceanique Slashes Condo Prices 40%

NORTH HUTCHINSON ISLAND, FL-In a move to sell the remaining 103 units in its 144-unit condo towers, Oceanique has cut its asking price a whopping 43%. CondoVultures reports prices have dropped to below $200 per square foot on some unsold developer units in the St. Lucie County luxury complex.

Located in Florida’s Treasure cost just south of Vero Beach, Oceanique sold units for an average of $336 per square foot when the complex came online in 2007. Oceanique Development Co., with principals Maurice, Michael and Robert Kodski, have sold a mere 41 units at an average asking price of $277 per square foot to date. Oceanique did not return calls seeking comment.