Foreclosure Sells For Higher Than List Price At Brickell Place

December 13th, 2012 Written By

Foreclosure Unit 1607 at 1925 Brickell Avenue closed today for $570,000 or $286/Sq.ft.  This condo is a three bedroom, two and one half bath corner unit at Brickell Place, a four building development in the South Brickell neighborhood.  A large and well designed renovated condo with unobstructed bay views, it was move-in ready with assigned parking and amenities like tennis, two pools and dock space.

Maintenance fees are approximately $959 per month and 2011 taxes were recorded at $6,065 without the Homestead exemption.  The most interesting fact about this sale is that it was only officially on the market for 23 days and it sold for $20,100 over asking price.  The lesson here is that in today’s market, a move-in ready foreclosure will sell quickly and buyers need to be prepared and educated about market values so that they are not misguided by list prices.  This condo was a great value at $570,000, even if it was higher than the listing price.  Property was sold by Fortune International Realty.

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.

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