Just Sold By The Riley Smith Group | Highest Sale Price In Over 5 Years

January 22nd, 2015 Written By


Categorized under Atlantis On Brickell Condo Market, Brickell Real Estate

Atlantis Brickell

Congratulations to our sellers who just closed on their condo at The Atlantis on Brickell.  This was a very unique 2 story unit located on the garden level of one of Brickell’s most iconic buildings.  Walls of glass created light filled living areas which opened onto a large and private terrace.  It had been completely renovated throughout with the finest materials including top of the line appliances and attention to every detail.  2 bedrooms/2 bathrooms were located on the bottom floor, and 2 bedrooms/2 bathrooms were located on the upper floor.

Our Brickell condo specialist, Dominique Duque, sold the unit for $1,078,000 which is the highest sale price in the building in over 5 years! 

Built in 1980, The Atlantis is a landmark building on Brickell.  Designed by the architecture firm of Arquitectonica, it is well recognized for its glass facade and the 5 story square cut-out of the center of the building known as “palm court” which features a red spiral staircase, jacuzzi and palm tree.  It has been featured in countless TV shows and movies including Miami Vice and Scarface.

Atlantis Brickell 2

Click here to view other condos for sale at The Atlantis on Brickell.

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 305-342-1623 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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Written by Riley Smith | Discussion: Leave A Comment

Foreclosures Surpass Short Sales On Brickell During 2014

January 16th, 2015 Written By


Categorized under Brickell Real Estate

Brickell

Despite record setting prices and high demand for Brickell condos during 2014, there were still a significant amount of distressed units sold throughout the year. In fact, there were approximately 75 foreclosures out of 700 total condos sold.  The average foreclosure closed for $327/square foot or $325,000.

The number of short sales dropped significantly in 2014 with just 16 closed.  This says a lot in terms of the health of the market because during 2013 there were over 70 short sales closed.  The average short sale sold for $350/square foot or $368,000.

This year a great short sale property closed for just $360,000 at The Mark on Brickell.  Unit 2609 was a 2 bedroom, 2 bath unit with bay views and 1,140 square feet of living space. There has also been one foreclosure sold so far in 2015.  Unit 1406 at Courvoisier Courts on Brickell Key was a 2 bedroom, 2.5 bath with 1,288 square feet of living space and closed above asking price for $435,000.

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 305-960-5318 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.

To Receive Our Posts Directly To Your Inbox, Submit Your Email Address Here!

Written by Riley Smith | Discussion: Leave A Comment

The Unique Bi-Level Penthouses At Carbonell

December 16th, 2014 Written By


Categorized under Brickell Real Estate, Brickell Waterfront Condos, Carbonell On Brickell Key Condo Market

Carbonell 1

Built in 2006, The Carbonell on Brickell Key is one of the most sought after buildings on Brickell.  Rising 40 stories high with 260 units, the building is known for its spectacular views of Biscayne Bay.  Some of the amenities include a 24 hour concierge, valet parking, pool, fitness center as well as the other benefits of living on Brickell Key such as the waterfront jogging path, market, dry cleaners, beauty salon, flower shop and access to The Mandarin Oriental restaurants and shops.

But my favorite thing about The Carbonell on Brickell Key are the bi-level penthouses.  These units have been strategically positioned to offer the best views of Biscayne Bay.  On the interior, they have soaring 21′ atrium style ceilings with walls of glass, and on the exterior they offer 2,000+ square feet of terraces (many with jacuzzis).  The most recent bi-level penthouse to sell at The Carbonell was PH3705 in 2012, it closed for $2,600,000 or $922.00/square foot.

There are many different sizes and layouts available for sale at The Carbonell.  Click here to view photos and information of what is currently on the market.

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 305-960-5318 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.

To Receive Our Posts Directly To Your Inbox, Submit Your Email Address Here!

Written by Riley Smith | Discussion: Leave A Comment

Inventory Is High At The Santa Maria

December 5th, 2014 Written By


Categorized under Brickell Real Estate, Brickell Waterfront Condos, Santa Maria Condo Market

santa maria4

The Santa Maria is such a sought after condo building on Brickell that there are never more than a handful of listings at a given time.  That is why it is very unusual that there are currently 9 listings for sale.  However, these aren’t the typical Santa Maria units that we see come on the market; 7 out of the 9 condos for sale are listed over $3,000,000.  There is usually much more inventory in the $1,000,000 – $3,000,000 price point in the building.

In fact, last year, only 1 of 13 sales at The Santa Maria closed for over $3,000,000.  And this year, only 1 of 3 sales closed for over $3,000,000.  So you can see why these units haven’t been snapped up yet, the supply is out of line with what buyers are looking for in the building.  This doesn’t mean that the current properties won’t sell, but it does mean that they may take some additional time and marketing effort to get them sold compared to the $1,000,000 – $3,000,000 units which tend to get snapped up within a matter of days.

If you are interested in buying a condo at The Santa Maria, please contact us.  We have a long history of sales in the building and know the market.  Please send us a message here to reach us. 

 

Written by Riley Smith | Discussion: Leave A Comment

Which Building Commands The Highest “Price Per Square Foot” On Brickell?

November 10th, 2014 Written By


Categorized under Asia On Brickell Key Condo Market, Brickell Luxury Condos, Brickell Real Estate

Asia on Brickell Key

When a buyer is looking for a luxury condo on Brickell, there are 3 buildings they are usually interested in: The Four Seasons Residences, Asia on Brickell Key, and The Santa Maria. Although each very different, they have many of the same luxury amenities that someone who is paying over $700/square foot is looking for.  So far in 2014, Asia on Brickell Key has the highest average “sale price / square foot” coming in at $849.00.  The second highest is The Four Seasons Residences which is selling at an average of $799.00/sq. ft. and the third is The Santa Maria which is coming in at an average of $795.00/sq. ft.

Below is a recap of sales this year at Asia:

  1.  Unit 3103 | Sale Price: $3,600,000 | Sale Price/Square Foot: $1,059.00 | 4 Beds/4 Baths
  2. Unit 2703 | Sale Price: $3,500,000 | Sale Price/Square Foot: $1,030.00 | 5 Beds/5.5 Baths
  3. Unit 3004 | Sale Price: $2,300,000 | Sale Price/Square Foot: $874.00 | 4 Beds/4.5 Baths
  4. Unit 2704 | Sale Price: $2,295,000 | Sale Price/Square Foot: $775.00 | 4 Beds/4.5 Baths
  5. Unit 1704 | Sale Price: $2,075,000 | Sale Price/Square Foot: $701.00 | 4 Beds/4.5 Baths
  6. Unit 2304 | Sale Price: $1,990,000 | Sale Price/Square Foot: $756.00 | 3 Beds/4.5 Baths
  7. Unit 2401 | Sale Price: $1,950,000 | Sale Price/Square Foot: $944.00 | 3 Beds/3.5 Baths
  8. Unit 901 | Sale Price: $1,850,000 | Sale Price/Square Foot: $895.00 | 3 Beds/3.5 Baths
  9. Unit 1701 | Sale Price: $1,800,000 | Sale Price/Square Foot: $871.00 | 3 Beds/3.5 Baths
  10. Unit 1001 | Sale Price: $1,630,000 | Sale Price/Square Foot: $682.00 | 3 Beds/3.5 Baths
  11. Unit 3202 | Sale Price: $1,350,000 | Sale Price/Square Foot: $858.00 | 2 Beds/2.5 Baths
  12. Unit 2805 | Sale Price: $1,115,000 | Sale Price/Square Foot: $840.00 | 2 Beds/2.5 Baths
  13. Unit 1905 | Sale Price: $989,000 | Sale Price/Square Foot: $745.00 | 2 Beds/2.5 Baths

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 305-960-5318 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.

To Receive Our Posts Directly To Your Inbox, Submit Your Email Address Here!

Written by Riley Smith | Discussion: Leave A Comment

Should You Increase The List Price Of Your Condo?

October 24th, 2014 Written By


Categorized under Brickell Real Estate

Brickell View

Increasing the list price on your condo is not typically a good idea (unless you have remodeled/renovated) and has the potential to negatively impact the sale-ability of your property.  Buyers will think you are unrealistic and not in tune with the market value.  I can’t stress how important it is to price your condo correctly from the beginning.  There is no doubt that if you do so, it will sell faster and for a higher price.

If you were a buyer and looking at condos, how would you interpret the history on these properties?

  • 701 Brickell Key Boulevard, #LPH-02 | Courvoisier Courts| Listed in July of 2014 for $817,777 | Currently Listed for $995,000
  • 495 Brickell Avenue | The Icon | Listed in 2013 for $775,000 | Currently Listed for $865,000
  • 2101 Brickell Avenue #3308 | Skyline on Brickell | Listed in July of 2014 for $706,477 | Currently Listed for $784,900

If you are interested in selling your Brickell condo and haven’t had a price valuation in the past 12 months, contact us for an updated analysis.  We are recognized in the industry for being honest and “telling it like it is”.  We are Brickell specialists and would love the opportunity to work with you.  Please contact us at 305-342-1623 or send us a message here.

Written by Riley Smith | Discussion: Leave A Comment

This Condo Sold $500,000 Off Its List Price!

September 8th, 2014 Written By


Categorized under Four Seasons Condo Market

Four Seasons, Brickell

Believe it or not, the condo market is very predictable.  With activity levels so high, it is fairly easy to come up with solid comparables on any unit in any building.  This means that if you are priced completely out of whack with the market, buyers won’t bite.  The perfect example of this is Unit 3506 at The Four Seasons Millenium Tower.  This condo came on the market back in March of 2013 for a list price of $1,703,500.  It was the highest priced listing in the building’s history.  It was listed for sale for over 12 months at the same price and finally closed in August of this year for $1,200,000 – nearly 30% off of its’ list price.

Some sellers try to test the market at a high price, but that usually leaves potential buyers with a bad taste in their mouth.  Buyers will shy away from making an offer on overpriced properties because they feel that the seller is unrealistic.

If you truly want to sell, you should work with an experienced Realtor who will help you price it properly so that you can get the most amount of money in today’s changing market.

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.

To Receive Our Posts Directly To Your Inbox, Submit Your Email Address Here!

Written by Riley Smith | Discussion: Leave A Comment

Under Contract In Less Than 30 Days At The Imperial On Brickell!

August 21st, 2014 Written By


Categorized under Imperial At Brickell Condo Market

The Imperial, Miami

I am thrilled to report that we have just placed our listing at The Imperial (1627 Brickell Avenue) Unit 1601 under contract! As soon as we listed the condo on the MLS we began a comprehensive marketing campaign which included both online advertising, print media as well as a catered open house to local Realtors. Within days we were flooded with showing requests and as expected, we received more than one offer on the unit!

Congratulations to our Brickell Condo Specialist – Dominique Duque for getting the condo under contract in less than 30 days!

Details of Unit 1601 at The Imperial:

  • 3 bedrooms
  • 2 full bathrooms, 1 half bathroom
  • 1,792 square feet of living space
  • List Price: $699,000

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.

To Receive Our Posts Directly To Your Inbox, Submit Your Email Address Here!

Written by Riley Smith | Discussion: Leave A Comment

True Brickell Real Estate Data Unknown

July 24th, 2014 Written By


Categorized under Brickell Luxury Condos, Brickell New Construction Condos, Brickell Real Estate, Brickell Waterfront Condos

Brickell,_Miami

Although there have been over 400 condo sales reported on the MLS so far in 2014, there are a large number of sales that are occurring every day in the pre-construction market that are not public record.   There are over 20 pre-construction buildings with 5,000+ units on Brickell that are accepting contracts.  This means that there are potentially hundreds if not thousands of more condos that have gone under contract this year.  These units certainly have a higher average sale price and sale price/square foot than the resales that have closed on the MLS.  Although the average “sale price/square foot” is down slightly in 2014 to $406.00 (it was $436.00 in 2013) – chances are that the numbers would be significantly higher this year if you were to include new construction data.

If you would like more information on Brickell condos, please contact us.  We know the market inside and out and would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by filling out our contact form here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Coral Gables Real Estate Vault | Key Biscayne Real Estate

 

Written by Riley Smith | Discussion: Leave A Comment

Just Listed By The Riley Smith Group At The Imperial On Brickell!

July 21st, 2014 Written By


Categorized under Imperial At Brickell Condo Market

The Imperial Collage

We have just listed a fantastic condo at The Imperial, one of my favorite buildings on Brickell.  The Imperial is a boutique building with only 162 units. That is part of what makes it wonderful along with the fact that the residents are a nice mix between full and part time and a small percentage of renters.  Designed by the renowned firm Arquitectonica and built in the 1983, The Imperial resembles a cruise ship from afar.  The design of the building provides some of the largest terraces of any condo building on Brickell.  Full service amenities include a doorman, valet, self-parking, tennis, fitness center, sauna, bayfront pool, BBQ area, party room and on-site market.  The location of The Imperial is extremely pedestrian friendly.

Unit #1601 is a corner unit which offers floor to ceiling glass and panoramic bay & city views.  It includes 3 bedrooms, 2 full bathrooms and 1 half bath with 1,792 square feet of living area.  It is being offered at $699,000 by Dominique Duque of The Riley Smith Group.  For showings please call Dominique at 305-766-7666.

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.

To Receive Our Posts Directly To Your Inbox, Submit Your Email Address Here!

Written by Riley Smith | Discussion: Leave A Comment

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