DiMucci Twin Towers Condo in Daytona Beach Shores

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

I have never been a big fan of DiMucci condos. Tony Dimucci, a 78-old veteran of commercial construction in Chicago, who also built residential condos in Ponce Inlet (Towers 1 through 9), then in Daytona Beach Shores: Towers 10  (2001), Towers Grande (2004), and Twin Towers (2007). 

One wouldn't call them architectural masterpieces, and they are not the epitome of luxury. Of course, agents tend to call «luxury» anything which is on the ocean, but in any case it is far in this regard from Ocean Vistas, Ocean Villas, Bella Vista, Palma Bella and a few others really nice buildings in Daytona Beach area.

DiMucci Twin Towers in Daytona Beach Shores

DiMucci builds simple and solid buildings, but with each of them there are changes to the better. I am looking at units in Twin Towers in Daytona Beach Shores, and though the building resembles all other DiMucci buildings, the units still differ in design and finishes even from the previous DiMucci's Towers Grande, built 3 years earlier (2004).

Twin Towers were built in 2007. North Tower with 68 units in 19-story building came first, and identical South Tower followed half a year later. And this was the time when the market just started changing. DiMucci had easy time selling units in the North Tower, so he started adding upgrades to units in South Tower as the expectation was that they would be selling for more.

DiMucci Twin Towers in Daytona Beach Shores

This is how the South Tower ended with granite countertops, upgraded carpet, ungraded tile, crown moldings in Living and Master Bedroom, and some other upgrades.

But the market started falling, and selling for more was not happening. And even selling for the same price was more and more difficult. As a shrewd businessman, the developer reduced the prices, and if not for a casual talk at the pool with an agent working for DiMucci, who told my wife about the price drop, I would not even know about it. Developer units are not on MLS. Good there are women around... and contrary to a popular belief, good that they talk a lot. It actually helps.

So, what is DiMucci Twin Towers? It is a 136-unit condominium consisting of two 19-story towers with 4 units on each floor. Actually, by the time DiMucci started construction, Daytona Beach Shores in their infinite wisdom decided to limit the height of the buildings in the city limits to 120', and if I remember this correctly, they tried to stop the development from going higher even though the project was approved by the very city council. DiMucci won, and he was the last one to build a high-rise in Daytona Beach Shores.

All units are direct oceanfront with rooms going west to east, so you have both the river (Intracoastal) and the Ocean. Outside corridor system. With only 4 units per floor, there is St. Maarten unit (1,654 sf), two bedroom/2 baths unit with 168 sf balcony; two end units on North and South sides– St. Lucia (2,044 sf), 3 bdr/ 3 baths, plus 175 sf balcony, and St. Thomas, the largest of all, a 3 bdr/3 bath unit, 2,220 sf and 240 sf balcony.

DiMucci Twin Towers in Daytona Beach Shores

The underground garage is stretching under both buildings. Each of the buildings have  their own oceanfront club rooms and gyms, each has its own pool, however, owners can use the amenities of the other building if they need or want to.

Development is well capitalized. When the association will be formed, they will get a nice chunk of cash. Good news for those with pets, you can have two large dogs. Good news for investors, the rental limitation is minimum two weeks, which is one of the most liberal in the area.

And the most important question is the price. So what are the prices? Developer is still holding to 3 bdr unit prices, and they are over $350K, still an excellent price for a direct oceanfront condo. But the best value is 2 bdr/ 2 bath units. Priced at $279K (negotiable) and with you picking the colors and finishes, this is a great value.

DiMucci Twin Towers in Daytona Beach Shores

Right now there is developer's Association, so when I hear that maintenance fee for a 2/2 is $685 a quarter, I am not jumping to the ceiling. It is the lowest number by a big margin on the ocean, but would it stay the same when they transfer to the owners association, is not clear at this point.

As with everything worth its money, there are only a few units left in the South Tower, and we just wrote an offer for one of those units for our New Jersey customer.

Picture of Jon Zolsky To know more about Twin Towers in Daytona Beach Shores or any other beachside condo in the area call me 386-405-4408

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Rainmaker
374,050
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
734-578-6561 - Michigan Real Estate Agent

Jon, nice job on giving your opinion and a feel to me as a reader on DiMucci Twin Towers.  I feel I know them just a bit after reading through this--Heck all the water views look great to me, lol

May 03, 2011 11:10 AM #1
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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Great history on these Jon, you are the local expert, but OUCH on the quarterly maintenance fee.

May 03, 2011 01:13 PM #2
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Bob - isn't it unfair that developers charge for the view, given b y God? (LOL)

May 03, 2011 05:20 PM #3
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Gary - this is the lowest Association fee in the area. $400 a month for a 2/2 is about normal, and $600 for a 3 bedroom. They go to $616 for a 2 bdr and $800+ for a 3 bdr.

And that would be nothing compared to many condos in South Florida, where $1,000 a month Association fee is far from being unusual.

May 03, 2011 05:22 PM #4
Rainmaker
593,229
Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Fl Real Estate

Marveling at the great prices and the low quarterly fees!  Gary Woltal, those fees are peanuts compared to my coast.  I have a tower I just wrote a webpage for and the quarterly is $2,000 per quarter, the penthouse is $4,000 per quarter and that doesn't include the master HOA!

May 29, 2014 04:06 AM #5
Rainmaker
1,957,143
Gabe Sanders
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Jon, for those folks complaining about the association fees, they should price out what insurance, maintenance, beach club and gym membership would cost if they bought a single family home.  The comparison will make these fees look cheap.

May 29, 2014 05:21 AM #6
Rainmaker
294,260
Eric Boucher
ReadySetLoan Condo Team LLC - South Windsor, CT
The FHA/VA Condo Project Approval Guy

Hi Jon - I really enjoy reading your posts and appreciate your personal commentary. The amount of knowledge that you have regarding these towers and the other condominiums demonstrate that you are an expert in Daytona.

And your business card is fantastic!  I have never seen it before.

May 29, 2014 11:40 AM #7
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Jon Zolsky, Daytona Beach, FL

Selling Daytona paradise for heavenly good prices
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