Brickell Key Condo January 2013 Market Update

February 5th, 2013 Written By


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

We’ve just published the January numbers for Brickell and thought you’d like to see Brickell Key broken out on it’s own. In so many ways Brickell Key really is it’s own Island and economy. Where possible we’ve compared them with January 2012 to show trends. The average sale price per square foot is what really catches our attention.

Have a look:

Brickell Key January Analysis

With inventory tight and no new buildings on Brickell Key, the available number of condos for sale shrunk as did the total number of sales. What did increase, and what buyers and sellers should pay attention to, is the average price per square foot. Up 20% year over year in January. As inventory remains tight, this number should continue to go up. All buildings on Brickell Key are waterfront.

The most expensive sale in January was $905,000 for a two bedroom two bath condo at Carbonell, 900 Brickell Bay Drive. The least expensive was a studio for $220,000 at Brickell Key II, 540 Brickell Key Drive.

Currently there are 127 condos for sale on Brickell Key and they range in Price from $168,000 for a studio at Brickell Key II up to $9,000,000 for a Penthouse at Asia, Brickell Key’s newest building.

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

Written by Thomas Grimshaw | Discussion: Leave A Comment

Brickell Condo January 2013 Market Update

February 4th, 2013 Written By


Categorized under Brickell Real Estate

The January numbers are in. Where possible we’ve compared them with January 2012 to show trends. There is some healthy market growth indicated. Have a look:

Brickell January Update

Interestingly enough, there were exactly the same amount of closed sales this January as last January. Average list price, average sale price and total market value of the 49 sales are all up just over 8%. Nice ROI if you can get it. As of today, there are only 629 condos for sale in Brickell. This supply has remained constant, which is a sign of a very healthy market. The units for sale represent something for everyone and range in price from $60,000 for a studio at the Four Ambassadors in North Brickell to $27,000,000 for an 8,800 sq. ft. four bedroom, six bathroom home in the sky on the 53rd floor of the Four Seasons Residences, also in North Brickell.

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

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:

http://TheRealEstateCoconut.com

http://CoralGablesRealEstateVault.com

Written by Thomas Grimshaw | Discussion: Leave A Comment

Yes! You Can Find Something Nice On Brickell For Under $300,000

February 1st, 2013 Written By


Categorized under Brickell Real Estate, The Plaza On Brickell Condo Market, Uncategorized

Forget nice.  How about gorgeous?  One of the questions we are always asked is, “Can you find me a nice one bedroom for less than $300,000?  Well check out Unit 1003 which recently sold in The South Tower at 951 Brickell, The Plaza.  Totally remodeled with white Spanish porcelain floors in all rooms.  But what I liked the best is the huge corner terrace facing the city.  This is urban living at its best smack dab in the middle of everything that is going on in Brickell right now.

It took some negotiating, but the buyer got a great and fair price at $285,000.  The list price was $349,900.  This represents a 19% percent discount.  This is not typical in today’s market, but each deal is different.  You never know.  A good realtor can help you find something you will like and then guide you to the market price.  A strong well presented offer can be made if the data supports the price and all parties are willing to look at what the market is saying.  This condo was only on the market for 81 days.

The Plaza on Brickell has a Walk Score of 83, one of the best in Miami.

Listed by Cervera Real Estate Inc.

Click here to view all condos currently for sale at The Plaza 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 305-960-5317 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!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://TheRealEstateCoconut.com

http://CoralGablesRealEstateVault.com

Written by Thomas Grimshaw | Discussion: Leave A Comment

Million Dollar Views at the Imperial at Brickell | Just Listed By The Riley Smith Group

January 31st, 2013 Written By


Categorized under Brickell Real Estate, Brickell Waterfront Condos, Imperial At Brickell Condo Market

Our new listing at the Imperial has us very busy. The phone started to ring the minute it went into the MLS. The most amazing feature of unit 2507 at 1627 Brickell Avenue is the view it affords. When you enter the condo and pass the foyer you are immediately drawn to the commanding 180 degree views. From the 25th floor, you can see all of Key Biscayne and then beyond to the ocean as you look directly East. To the South you have views of South Beach and Fisher Island and to the South you see all of Coconut Grove and beyond with water as far as the eye can see. It’s amazing.

The “07” line at the Imperial is highly sought after because of its views but also because it’s the end unit with a 610 sq. ft. wrap around terrace with access from all rooms but the kitchen. It’s position in the building also means that there are only three units per floor. Traditionally the “07” lines are laid out with three bedrooms and two and one half baths totaling approximately 1,792 square feet.  This unit also comes with storage and two deeded parking spaces.

Everyone wants their piece of Miami’s dwindling waterfront inventory. When I walked into the lobby yesterday I saw one of the residents waving me over and asking me to follow them into the mail room. They had heard about 2507 coming on the market and want a family member to buy it.   They asked me to please not sell it until their cousin could fly in from Mexico to see it.

Unit 2507 is listed for $775,000, for more photos and information click here.

Contact us for a private showing.

Click here to see a list of all units for available at the Imperial At 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 305-960-5317 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!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://TheRealEstateCoconut.com

http://CoralGablesRealEstateVault.com

Written by Thomas Grimshaw | Discussion: Leave A Comment

For Many Brickell Residents, Coconut Grove Is The Next Stop

January 30th, 2013 Written By


Categorized under Brickell Real Estate

A recurring story with many of our customers is that they start out in a great condo in Brickell and then for whatever reason they end up moving to a house in Coconut Grove.  Some move because their families are expanding and others move just because they want a house instead of a condo.  The owner of a very unique home that just came on the market followed this exact same path a few years ago.  Now his job is taking him elsewhere, otherwise he says he’d stay here forever.

3630 Bougainvillea Road in Coconut Grove will be open for the first time for local brokers and agents this Wednesday January 30th from noon until 3:00pm. The public is also welcome. One of our team members is one of the listing agents, so if you go please tell Thomas that you read about it on the Brickell Condo Blog.

Click here for more information and photos.

We can help you make the move, whether to Brickell, Coconut Grove, Coral Gables or anywhere in the world actually. Contact us directly.

Written by Thomas Grimshaw | Discussion: Leave A Comment

High Floor Closing at The Plaza on Brickell

January 28th, 2013 Written By


Categorized under Brickell Real Estate, The Palace Condo Market

Unit 4611 at 950 Brickell Bay Drive, also known as the South Tower of the Plaza at Brickell closed this week for $605,000.  With 1,278 square feet of living space under air, it’s the amazing water and city view that gave this unit a sale price per square foot of $473.   This is well above the average of $404 per square foot for sales in this tower in the past 12 months.  Still the new owner will probably replace the carpet with some nicer flooring and finish the balcony floor which is now raw unfinished concrete.  This unit has always been rented and was probably purchased pre-construction.  The building was finished in 2008.

It’s a very nice unit with a lot of potential because of the high floor and view.  A split plan two bedroom, two and one half bath layout.  It was only on the market for 57 days before going under contract.  The list price was $695,000 and the buyer was able to secure conventional financing.

Click here to view all condos for sale at The Plaza.

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!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://TheRealEstateCoconut.com

http://CoralGablesRealEstateVault.com

Written by Thomas Grimshaw | Discussion: Leave A Comment

CMA for Condo at Brickell Key II

January 25th, 2013 Written By


Categorized under Brickell Key Condo Market, Brickell Key Two Condo Market, Brickell Real Estate

One of our readers contacted us a couple of days ago to see if we could help by providing information that would enable them to make their one bedroom condo at 540 Brickell Key Drive as marketable as possible for a potential sale this Summer.

This is what we do everyday. We thought we’d share a few details of the Comparative Market Analysis with you here on the blog.  All details relate specifically to one bedroom condos in the same building:

  • Four (4) one bedroom units have closed at Brickell Key II in the past six months
  • The most recent sale closed on January 9th for $367/sq. ft.
  • The average sale price per square foot in the last six months is $348
  • One condo is currently Pending Sale
  • There are six (6) one bedroom condos actively for sale ranging in price from $240,000 – $274,900.

As always, unit condition, floor height, size and views always play a role in sale price.

Brickell Key II has a Walk Score of 88.

Click here to view condos for sale in Brickell Key II.

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!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://TheRealEstateCoconut.com

http://CoralGablesRealEstateVault.com

Written by Thomas Grimshaw | Discussion: Leave A Comment

Pocket Listing At The Imperial!

January 24th, 2013 Written By


Categorized under Brickell Real Estate, Imperial At Brickell Condo Market

We are listing a very special unit for sale at the Imperial. It is in the “07” line, which is the end corner unit facing the bay. This unit is on a very high floor and this line rarely comes available for sale. It will hit the MLS some time next week, but in the mean time please contact us if you’d like early access before the general public and the rest of the Brokers in Miami find out about it.

The specs are:

  • 1,792 square feet of living area
  • Three Bedrooms, two and one half baths
  • Two parking spaces
  • Sweeping and wide open views from South Beach to Key Biscayne and beyond

More details coming soon….

If you are interested in learning more about this unit before it hits the market, give me a call at 305-321-1303.

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!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://TheRealEstateCoconut.com

http://CoralGablesRealEstateVault.com

Written by Thomas Grimshaw | Discussion: Leave A Comment

Great Time To Buy In The Santa Maria

January 22nd, 2013 Written By


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

Sometimes by chance or by luck, buyers get the possibility of leverage because it just so happens that there are similar condos for sale in the same building at the same time. This condition exists right now in the Santa Maria. One of our colleagues, Nicolas Boucher, just listed unit 3505 for sale.  It’s a gorgeous flow through unit with four bedrooms and five and one half baths. Interior space is 4,030 square feet and there are over 1,000 square feet of spacious terraces.  The views, as you can imagine are sweeping and spectacular. Since it is the Santa Maria, of course the unit is accessed via private elevator foyer and all of the amenities are five star resort level. There are also two other “05” line units for sale, which gives potential buyers not only choice, but potentially leverage in negotiating.

The “05” line units for sale are:

  • Unit 2905 $3,200,000 Listed by Fortune International
  • Unit 3505 $3,650,000 Listed by Nicolas Boucher of EWM Realty International
  • Unit 4205 $5,500,000 Listed by EWM Realty International

Recent “05” line sales include:

  • Unit 2705 sold for $2,950,000 on 11/21/12
  • Unit 4005 sold for $3,000,000 on 12/28/12

Of course there can be many differences between units even in the same line that account for price difference. These can include floor height, finishes, layout, architectural changes and design.

View all condos for sale at the Santa Maria on Brickell by clicking here.

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!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://TheRealEstateCoconut.com

http://CoralGablesRealEstateVault.com

Written by Thomas Grimshaw | Discussion: 1 Comment »

Brickell Condo Owner Asks, “Should I Sell Now Or Find A New Tenant?”

January 21st, 2013 Written By


Categorized under Brickell Real Estate

Over the weekend, one of our long time customers sent me an email to ask what he should do with a condo that he has owned for many years.  His current tenants had just informed him that they would be leaving at the end of their lease in February.  Should he sell or find another tenant?

I sent him very simple CMA showing the price range that he could expect to achieve if he decided to sell his condo and also what the going rates are for leasing. For him and his wife, who now live out of state, but have family connections in Miami, the process of deciding is two fold:

1. Examine the facts and the numbers that we provided them so that they could make educated decisions. Deciding whether or not to sell if fairly easy based upon the numbers. A sale is possible or not based upon what the investment is compared to what it could sell for. Then they must ask themselves: Is the return acceptable? What does the future look like as far as market value growth? What is the financial health of the building? Are special assessments likely? All of this is important to take into consideration.

2. The hardest part is the emotional part of the decision. By selling do they lose their connection with Miami? It’s really unique direct waterfront corner unit on Brickell Avenue. They lived in this condo for many happy years and have fond memories. Maybe they’d like to return some day. This is the part that we can’t help them with, unfortunately.

Real Estate decisions can be complex if emotions are involved and sometimes it’s impossible to avoid. We give our buyers and sellers accurate and detailed data so that they can make smart financial decisions, which is why they trust us. Then we support whatever decision their gut tells them is best. It’s usually always the best one.

What questions do you have? Ask away.

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!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://TheRealEstateCoconut.com

http://CoralGablesRealEstateVault.com

Written by Thomas Grimshaw | Discussion: Leave A Comment

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