Author Archive

New Trend In The Market | Buyers Moving From Single Family Homes To Condos

March 3rd, 2015 Written By

Brickell Condo Blog | The Riley Smith Group

From a real estate perspective, condos are a completely different animal than single family homes.    For the first time in my career I am seeing more and more single family homeowners decide to make the move to condo living.  I believe that this is the result of a few factors.  First, the new buildings going up on Brickell offer incredible amenities which you cannot possibly have in a single family home.  Right at your fingertips you can have a...Continue Reading!

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

January 22nd, 2015 Written By

Brickell Condo Blog | The Riley Smith Group

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...Continue Reading!

Foreclosures Surpass Short Sales On Brickell During 2014

January 16th, 2015 Written By

Brickell Condo Blog | The Riley Smith Group

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...Continue Reading!

The Unique Bi-Level Penthouses At Carbonell

December 16th, 2014 Written By

Brickell Condo Blog | The Riley Smith Group

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...Continue Reading!

Inventory Is High At The Santa Maria

December 5th, 2014 Written By

Brickell Condo Blog | The Riley Smith Group

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...Continue Reading!

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

November 10th, 2014 Written By

Brickell Condo Blog | The Riley Smith Group

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...Continue Reading!

Should You Increase The List Price Of Your Condo?

October 24th, 2014 Written By

Brickell Condo Blog | The Riley Smith Group

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...Continue Reading!

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

September 8th, 2014 Written By

Brickell Condo Blog | The Riley Smith Group

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...Continue Reading!

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

August 21st, 2014 Written By

Brickell Condo Blog | The Riley Smith Group

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...Continue Reading!

True Brickell Real Estate Data Unknown

July 24th, 2014 Written By

Brickell Condo Blog | The Riley Smith Group

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...Continue Reading!

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