Best Value At Carbonell At Brickell Key
As you can probably tell, we are always analyzing. Buildings, condos, different part of Brickell, new developments etc. When we come across something that really stands out from the norm, it’s usually worth writing about.
There is a unit for sale right now at Carbonell that is really worth taking a look at. It is being offered for sale at $417 per square foot. If you read yesterday’s post, you would know that on average, condos at Carbonell have been selling for $552 per square foot. All of the other condos currently for sale are listed at over $600 per square foot. So why is this one so cheap? There are many factors that could contribute to this being such a deal. None of them affect the actual value of the unit:
- this condo has been on and off the market for the last 4 years for-sale and for-lease at the same time
- the for-lease price has always been a better deal than the for-sale price (until now) and so it always rented right away
- maybe it has not been easy to show because it always has a tenant.
- maybe it’s been for sale for so long that Realtors assume something is wrong and don’t want to bother with it
If you are interested in this large and nicely finished one bedroom with one and one half baths condo let me know. It does have a tenant on a lease until April of 2014. This condo is an excellent investment opportunity for a smart buyer who wants to take advantage of the value, the upward trending market and does not need to move in right away or even at all. It has terrific water and city views, large balcony, open kitchen, parking, marble floors and all of the exceptional Carbonell amenities.
Click here to view all condos for sale at Carbonell on Brickell Key
We know the numbers and track the Brickell real estate market. If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here.
The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.
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Carbonell on Brickell Key – Market Update
Built in 2006 and comprised of just 284 units, Carbonell on Brickell Key is one of my favorite buildings. Large enough to support great amenities and service staff, yet small enough to make it’s residents feel that they are living a wonderful lifestyle in a very special place.
Carbonell is located at 901 Brickell Key Boulevard and is positioned on the island so that many units have a direct water view and almost every unit has some water view. The building is very healthy financially and there are currently no short sales or foreclosures actively for sale, that we know of.
Here is an update on what is happening in the building:
Actively For Sale:
- 14 condos
- one to four bedrooms
- list price range $430,000 – $2,200,000
- average list price per square foot = $654
Accepting Back-up Offers (A contract has been accepted but with contingencies):
- two condos
- two bedrooms
- list price range $697,000 – $999,000
- average list price per square foot = $504
Pending Sale (a contract has been accepted but the transaction has not closed):
- nine condos
- one to four bedrooms
- list price range $525,000 – $1,810,000
- average list price per square foot = $561
Closed Sales (in the last 3 months):
- seven condos
- one to four bedrooms
- list price range $455,000 – $1,900,000
- average list price per square foot = $584
- sale price range $435,000 – $1,700,000
- average sale price per square foot = $552
- average number of days on the market for sale = 98
It sounds like a cliche, but is a great time to consider selling, if it’s been on your mind. Less than 5% of the units in the building are for sale right now and we won’t see a new building on Brickell Key for quite some time, if ever. The only land available is the park behind the Mandarin Oriental Hotel and surely it will be developed at some point.
Click here to view all condos for sale at Carbonell on Brickell Key
We know the numbers and track the Brickell real estate market. If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here.
The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.
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UPDATE on the Disclosure Surprise
“Looks like we have a deal!” – was the text that I received late last night from the Listing Agent of the condo that my buyers had an executed contract on when we were all surprised by a Seller’s Disclosure that threatened to derail the deal.
“WOW, Great work Tom, I thought the deal had gone up in smoke!” was the text from the buyer even later last night, when I told him that the Seller had agreed to credit him at closing for the estimated cost of repairs resulting from the renovation work being undertaken by the Condo Association.
Sounds great, and it is. What nobody really knows though, is that the outcome is a result of numerous conference calls, texts and emails with the Listing Agent, Attorneys and the Condo Association. Everybody really pulled out all stops to try and keep this purchase together and it worked.
Today’s moral: If you work with responsible people who care about the outcome and are willing to go the extra mile, you can generally achieve a fair resolution.
If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here.
The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.
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Nobody Likes A Disclosure Surprise
We always tell our clients to expect the unexpected during the time from when they have an executed contract up to the actual ink on the closing documents. Invariably, there is always something that comes up, and sometimes it is important information that is best dealt with at the beginning of the contract negotiations, not after the contract is executed.
A condo deal that we are working on right now is one of these cases. All parties agreed to a fair price. The property inspection went very well. The buyer is already in the process of getting a mortgage and getting approved by the Condo Association. Lot’s of time and some money has been invested by all parties. Closing is scheduled for the end of June. Sounds nice and smooth right? What could go wrong?
The building has just begun extensive renovation work that was funded from a Special Assessment of all units and paid for by the Seller in this case. The issue that has arisen is that the work being done by the Association necessitates the removal of tiles and the hurricane shutters from the balconies of this property, and then it is the “owners” responsibility to replace the tiles and put back the hurricane shutters if they so desire. Which owner? the current owner or the possible new owner? The buyer is asking for a credit from the seller at closing to pay for this work to return the unit to the same condition that it was in when the contract was executed.
There moral of this story is that whether you are selling or buying, if you work with an experienced Realtor who has been through many potential issues, the likelihood of a surprise can be minimized. We advise all of our Sellers to Disclose, Disclose, Disclose as early as possible. We also advise all of our Buyers to ask as many questions as they need to, until they are comfortable. This is one of the reasons we have been so successful and have many repeat clients.
Let us know how we can help you.
We know the numbers and track the Brickell real estate market. If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here.
The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.
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The Cipriani Effect at Icon Brickell Miami
If you are a real estate fanatic, then you’ve no doubt heard about the Whole Foods Effect on a neighborhood and real estate prices. Whether or not Whole Foods has a scientific formula for the way they choose new locations in cities, or it’s just a coincidence that they open right at the inflection point when real estate values are about to go up, is up for debate. One thing that is for sure is that when the upscale retailer opens, it only adds to the desirability of living in the area.
The Cipriani family has chosen Miami and specifically Brickell for its 20th location. According to the fourth generation of the family that now runs the business, their international clientele spend a lot of time in Miami and the Brickell location will serve a lunch and dinner crowd that is much less seasonal than would be true if they decided on Miami Beach.
Cipriani Miami at Icon Brickell has been rumored about for years, and was confirmed just about a year ago. Condo owners and real estate brokers have been touting the restaurant as one of the “benefits” of living at Icon Brickell. I had lunch on opening day with a client who lives at Icon Brickell. It was wonderful and she and her husband were thrilled that they could dine here without leaving the building.
Will the Cipriani Effect be similar to the Whole Foods Effect and help to drive increases in property values for owners at Icon Brickell? It remains to be seen. You can be sure that we will follow it and let you know. In case it does not pan out, there is no need to worry. Whole Foods is still going to open just a stones throw away, across the Miami River at Metropolitan Miami.
Click the following links to see all available condos in the three Icon Brickell Towers:
- Icon Brickell Tower One (Cipriani is in this Tower): 465 & 475 Brickell Avenue, Miami, 33131
- Icon Brickell Tower Two: 495 Brickell Avenue, Miami 33131
- Icon Brickell Tower Three (Including Viceroy Miami Hotel residences): 485 Brickell Avenue, Miami 33131
We know the numbers and track the Brickell real estate market. If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here.
The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.
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A Villa Regina Condo With Plenty of Room for all of Your Toys
At Villa Regina, 1581 Brickell Avenue, a very unique condo is available for sale. What makes it unique is not that it has a great view, or that it is very spacious. Not even that is is nicely renovated and has just had a significant price reduction.
What makes it unique is that it comes with three assigned parking spaces and a boat slip in the building’s private marina that can accommodate up to a 46 foot vessel. Based on the inventory of condos available in Brickell today, there is nothing else like it, no matter what a buyer would be willing to pay.
Here are the stats on this particular unit:
- Two bedrooms & two full bathrooms
- 2,005 square feet of air conditioned living area
- Miami city views from bedrooms
- Nice bay views from living areas and balcony
- 14th floor
- Three assigned parking spaces
- Boat slip in private building marina accommodates 46 foot boat
- Monthly maintenance fee approx. $1,531
- List Price: please inquire
If you have a unique condo to sell, please contact us directly. We have had great success finding unique buyers for unique properties.
We know the numbers and track the Brickell real estate market. If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here.
The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.
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The Carlos Ott Penthouse on the 61st floor of Echo Brickell
Although not by design, the theme of the week is clearly Penthouses in Brickell.
In an article on Forbes.com today, Echo Brickell was included in a short list of the world’s tallest and most luxurious residential towers, Rise Of The Super Towers: The Next Big Thing In Luxury Housing, written by Morgan Brennan. There are many things that stand out about Echo Brickell, but in our opinion, the Carlos Ott Penthouse is one of the most unique offerings we’ve ever seen. Here is why:
- 4 Bedrooms / 4.5 Baths + Den + Maids Room
- Approx. 4,000 Square feet of air conditioned interior space with an additional 1,330 square feet of balconies plus 1,500 square feet of private rooftop garden space
- Designed One-on-One with Carlos Ott
- The Carlos Ott Penthouse at Echo Brickell truly is 1 of a kind – never before has an Echo residence been designed to fit the exact specifications desired by the residing homeowner.
- Perched atop the Echo Brickell tower on the 61st floor (occupying the entire floor), the Carlos Ott Penthouse will offer stunning views of Biscayne Bay, the Atlantic Ocean, and Downtown Miami. Here, amongst spacious 16-foot-high ceilings, famed architect, Carlos Ott will meet with the owner to design the ultimate “residence of dreams.”
- Specification will include everything from the layout of the walls to the overall floorplan, the surface material selections, and even the very last fixtures and window treatments.
- 1 breathtaking top floor residence.
- 1 private rooftop garden.
- 1 full floor.
- 1-on-1 personalized design creation with famed architect Carlos Ott.
- 1 of a kind.
- 1 available.
- 1 home above it all
- WalkScore of 80
The price for being #1 in so many ways? Approx. $8M at this time, subject to increase at any time prior to contract.
Contact us directly for a private and discreet discussion of options.
We know the numbers and track the Brickell real estate market. If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here.
The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.
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UPDATE Four Seasons Penthouse 70F SOLD for record $1,358 per square foot
There seems to be a lot of activity around Penthouse level condos. This is nothing new for Miami, where we even have Junior PH levels due to some serious marketing minds and the unending desire for some sort of bragging rights.
We are happy to report the sale of PH 70F at the Millenium Tower Residences, also known as the Four Seasons Miami at 1425 Brickell Avenue. We wrote about this property recently on our blog, view post here.
The sale price of $5,200,000 represents just over $1,358 per square foot, really raising the bar to new heights. It was on the market for 225 days before selling.
PH 70F was listed by EWM Realty International
We know the numbers and track the Brickell real estate market. If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here.
The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.
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Don’t Miss Today’s News From Our Other Real Estate Blogs:
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Penthouse At Carbonell On Brickell Key
As of today, the nicest condo for sale at Carbonell on Brickell Key, and possibly even the nicest on all of Brickell Key is PH 3807. Here is why:
- Private roof top terrace overlooking Biscayne Bay and Dowtown Miami
- Four (4) Premium Covered & Secure Parking Spaces
- Four (4) Air conditioned storage units in the building
- Three bedrooms all with private bathrooms
- Grand double height ceilings in the living room
- 3,403 square feet (316 m2) of air-conditioned living space
- WalkScore of 89
Of course all of the other requirements have also been met. Marble, top of the line appliances, finished closets and built-ins.
But the one thing that really makes this the best is that the new buyer will also take ownership of a 2004 Jaguar XJ8. OK, so maybe not, but at least you can drive yourself to buy whichever automobile you’d like.
Carbonell PH 3807 is listed for sale by EWM Realty International.
We know the numbers and track the Brickell real estate market. If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here.
The Brickell Condo Blog is the most comprehensive online source for Brickell real estate information. Whether you are looking for the latest sales, trends or homes for sale in Miami’s Brickell neighborhood, Brickell Condo Blog has it all at your fingertips. Browse information regarding the upcoming new construction projects, luxury condos, waterfront condos, foreclosures plus much more.
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Don’t Miss Today’s News From Our Other Real Estate Blogs:
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Brickell Key Condo April 2013 Market Update
Property values on Brickell Key continued to climb in April. As usual, even more than Brickell in general.
Here are the actual numbers:
Inventory is down in April from 112 to 108 condos actively for sale on Brickell Key.
Pending Sales are also down from last month. 56 in April versus 60 in March.
The most expensive condo for sale on Brickell Key is still a five bedroom unit at ASIA for $9,000,000. The least expensive is one bedroom at Brickell Key II for $250,000. For a confidential and private viewing, please contact us directly.
With no new buildings planned and the newest building on Brickell Key being ASIA, built in 2008, this is pure supply and demand at work.
We have the analysis for all individual buildings and would be happy to share them with you at your request. Please let us know what you need.
*Data provided by the SEF MLS
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