Brickell Condo Blog | The Riley Smith Group

Why Is The Jade At Brickell Bay So Popular?

October 1st, 2013 Written By Riley Smith

Categorized under Brickell Real Estate, Brickell Waterfront Condos, Jade at Brickell Bay Condo Market

One of the buildings that clients always ask us about is The Jade at Brickell Bay.  Completed in 2004, it is one of the newer construction condos in the North Brickell neighborhood.   This 48 story high rise is home to 326 residences which range in size from 895 square feet to 1,863 square feet.  The amenities at The Jade include a European spa, fitness center, infinity edge lap pool overlooking Biscayne Bay plus much more.  Some of the special features that help The Jade stand apart from other condo buildings are 9 foot ceilings in the standard units, 18 foot ceilings in the Bay Lofts, floor to ceiling glass, walk-in closets, touch screen monitors which control entertainment and security.  It is also within walking distance to the cafes, shops and restaraunts of Mary Brickell Village.  It has a Walkscore of 75 which makes it very desirable for those who are looking for an urban lifestyle.

The Jade At Brickell Bay has seen a large increase in values over the past few years.  Check out the chart we created below which shows the average :”sale price per square foot” since 2010.

This year there have been several sales which came in over $650.00 per square foot which has really helped boost values in the building.  I would like to make special note of Unit 2301 which closed for $1,388,000, this is a whopping $739.00 per square foot.  We haven’t seen values like that in The Jade since 2006!!!

To scroll through the condos currently available for sale at The Jade, click here.  If you see anything that interests you, give us a call and we would be happy to schedule a showing for 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.

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

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Brickell Key, Did You Know?

September 25th, 2013 Written By Riley Smith

Categorized under Asia On Brickell Key Condo Market, Brickell Key Condo Market, Brickell Key One Condo Market, Brickell Key Two Condo Market, Brickell Luxury Condos, Brickell Real Estate, Brickell Waterfront Condos, Carbonell On Brickell Key Condo Market, Courts On Brickell Key Condo Market, Couvoisier Courts On Brickell Key Condo Market, On Brickell Key Condo Market, One Tequesta Point Condo Market, St. Louis Brickell Key Condo Market, Three Tequesta Point Condo Market, Two Tequesta Point Condo Market

Brickell Key is a private island located at the mouth of the Miami River and is home to more than 2,000 condo units.  Many people don’t know that the history of Brickell Key began more than 100 years ago.

In 1896 Henry Flagler, a key figure in the development of the east coast of Florida had a 9 foot channel dug out at the entrance of the Miami River.  In doing so, he created two small islands.   These islands were purchased in 1943 by Edward Claughton Sr. as well as the bay bottom land in order to combine them into the 44 acre triangular island we know today as “Brickell Key”.  In 1970, Swire Properties purchased most of the land and put into place a master plan which would make it one of most unique island communities in the world.  In 2008, Swire completed Asia Brickell Key which is the newest building on the island.

Today Brickell Key offers its residents the best of Miami living.  Some of the benefits of living on Brickell Key include unobstructed Bay views, a walking path around the island, market place, salon, flower shop plus the amenities of each individual condo building.   The Mandarin Oriental is also located on Brickell Key which gives residents even more  fine dining options and spa services just steps from their residence.

The buildings that comprise Brickell Key today include:

• Asia Brickell Key | 900 Brickell Key | Built In 2008
• Brickell Key One | 520 Brickell Key | Built In 1982
• Brickell Key Two | 540 Brickell Key | Built In 1991
• Carbonell Brickell Key | 901 Brickell Key | Built In 2006
• Courts Brickell Key | 801 Brickell Key | Built In 2002
• Courvoisier Courts Brickell Key | 701 Brickell Key | Built In 1997
• Isola Brickell Key | 770 Claughton Island Drive | Built In 1990
• One Tequesta Brickell Key | 888 Brickell Key | Built In 1995
• Two Tequesta Brickell Key | 880 Brickell Key | Built In 1999
• Three Teuesta Brickell Key | 848 Brickell Key | Built In 2001
• St. Louis Brickell Key | 800 Claughton Island Drive | Built In 1995

If you are interested in purchasing or selling a condo on Brickell Key, we would love the opportunity to work with you.  Please contact us at 305-342-1623 or send us a message here.

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Market Update – Icon Brickell Tower II

September 24th, 2013 Written By Riley Smith

Categorized under Brickell Real Estate, Brickell Waterfront Condos, Icon Brickell Tower Two Condo Market, North Brickell Condo Market

The condo market at Icon Brickell Tower II is booming.  With 26 condos sold this year and 6 already under contract, the number of closed sales will certainly exceed last year’s total of 32 sales.

If you purchased a 2 bedroom unit at Icon Brickell a few years ago, you have seen your investment increase from an average of $395.00 psf in 2011, to $510.00 in today’s market.  The 3 bedroom units have seen a similar increase from $500.00 psf in 2011 to $642.00 psf in 2013.  Those are incredible jumps in value and are one of the reasons why Brickell’s condo market is making headlines across the globe.

Click here to view what is for sale at Icon Brickell Tower II.

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“Miami Is The Condo Comeback Kid”

September 18th, 2013 Written By Riley Smith

Categorized under Brickell Real Estate, Brickell Waterfront Condos

If you follow the BrickellCondoBlog.com you know that condo prices are on the rise all over Brickell.  We have seen appreciating values and higher sales in all segments of the market here.  Yesterday, The Real Deal published an article about South Florida’s condo market which reinforces what we have been telling you for months.  The headline reads: “93 percent of last boom’s condos have sold…median prices appreciated 33 percent in a year…and more“.  Brickell condo sales make up a majority of these figures and it is extremely good news for current sellers.  It also gives potential buyers confidence that their investments will appreciate in the coming years.

Here are some of the highlights of the article:

• 93: Percentage of the 23,000 condo units built in last condo boom that have been sold [The Real Deal]
  
• 10,000: Approximate number of condo units that buyers pulled out of after the 2007 real estate collapse [The Real Deal]
• 33: Percentage increase in the median price of condominiums from July 2012 to July 2013 [Miami Association of Realtors]
• $1,060: Mean price per square foot for a pre-construction condo in Miami-Dade County, as of August 2013 [Condo Vultures]
• $34 million: Price paid for two side-by-side penthouse units in The Residences at the Miami Beach Edition, making it the biggest condo sale in Miami-Dade County history [Forbes]
• $55 million: Price of the “Palazzo D’Oro” penthouse at the Mansions At Acqualina, making it the most expensive condo listing in Miami [Curbed]
• 15,772: The number of condo units in Miami-Dade that are in some stage of foreclosure or bank-owned [RealtyTrac]
• 3,036: Residential units currently under construction in downtown Miami [Miami DDA]
• 6,200: Additional residential units proposed for downtown Miami’s core Brickell and central business districts [Miami Today]
• 830: Number of feet Florida East Coast Realty Tibor Hollo‘s Panorama Tower is projected to rise over Brickell Avenue when completed, becoming the tallest building in Miami and Florida [Miami Today]

Our knowledge of the Brickell condo market helps our clients make educated, confident decisions.  If you are interested in buying or selling, please don’t hesitate to contact us, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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40 Year Inspections Causing Problems For Buyers

September 12th, 2013 Written By Riley Smith

Categorized under Brickell Real Estate

Brickell has a nice combination of newer buildings mixed with older ones.  Some buyers prefer the contemporary aesthetic, amenities and services offered by some of the newer construction condos, while other buyers go with a renovated unit on an older building because you can get more bang for your buck.  It all comes down to the buyer’s personal preferences.

One issue we are seeing right now with the older condo buildings on Brickell is that many are undergoing their 40 Year Inspection.  Miami-Dade County requires an inspection and re-certification on condo buildings which are 40 years old.  This can result in large special assessments for any repairs or renovations needed to pass the inspection.

Aside from the financial impact on the buyer, large scale renovations and repairs may give the impression that the building is in disrepair and that more special assessments will occur in the future.  Due to all of the uncertainties involved, some buyers choose to look elsewhere.

That being said, it is not impossible to sell a unit in a building which has a special assessment looming (we recently sold a unit at The Imperial with a $13,000 special assessment that had just been passed).  If the seller and buyer are reasonable with each other, you can most certainly work out a deal that is fair for both parties.

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Unique Brickell Condos: The Townhouses At The Santa Maria

September 9th, 2013 Written By Riley Smith

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

The Santa Maria is one of our favorite buildings on Brickell.  Most of the 174 residences at The Santa Maria range from 2,000 to 4,000 square feet.  However, there are a handful of units known as “The Townhouses” which offer 5,730 square feet of interior living space and 2 story views of the ocean.   There are currently 2 Townhouses on the market at The Santa Maria and they range in price from $5,550,000 to $5,900,000.  These unique properties are perfect for the buyer who is looking for spectacular views in one of Miami’s most prestigious buildings.

We have a history of sales at The Santa Maria on Brickell, if you are interested in buying or selling please don’t hesitate to contact us.

To view more information on all condos for sale at The Santa Maria (1643 Brickell Avenue), click here.

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Not Much Room For Negotiation On Brickell

September 7th, 2013 Written By Riley Smith

Categorized under Brickell Key Two Condo Market, Brickell Real Estate, Icon Brickell Tower One Condo Market, Icon Brickell Tower Three Condo Market, Icon Brickell Tower Two Condo Market, The Palace Condo Market, The Plaza On Brickell Condo Market

Buyers are very educated about the market these days and they know a well priced condo when they see one.  A serious buyer makes a solid offer that is in line with the recent comparables.  This week, we saw 5 condos on Brickell that were priced perfectly and sold within 96% (on average) of their list price.

It is important to work with Realtors such as The Riley Smith Group who know the market and track the numbers.  If you are interested in buying or selling on Brickell, please don’t hesitate to contact us at 305-342-1623 or send us a message here.

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Another Brickell Key Condo Just Sold by The Riley Smith Group

September 7th, 2013 Written By Thomas Grimshaw

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

Never, Never, Never Give Up! – Is a famous Winston Churchill quote and also a common theme here at the Riley Smith Group. My colleague Jessica Adams just closed a terrific deal for one of our clients who has been looking for months. With inventory of Brickell condos still very tight she made sure he saw this terrific condo at Courvoisier Courts on Brickell Key as soon as it came on the market. He loved it of course, as it fit all of his criteria. He made an offer, Jessica negotiated hard on his behalf and yesterday he received the keys to his new home on the 23rd floor at 701 Brickell Key Boulevard.

Here are the specs on the condo:

• 1,305 Square feet of air conditioned living area
• Two bedrooms & two full baths, plus a guest powder room
• Completely renovated with top of the line stainless steel appliances and granite in the kitchen
• Marble floors and crown molding in all rooms
• Large balcony with bay and city views
• Two parking spaces
• 5 Star Brickell Key lifestyle
• List Price $599,000
• Sale Price $560,000
• Conventional financing

If you are looking and haven’t been able to find what you want, we can certainly help.

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 Thomas Grimshaw | Discussion: Leave A Comment

New Three Bedroom Listing at The Imperial at Brickell – For Balcony Lovers

August 16th, 2013 Written By Thomas Grimshaw

Categorized under Brickell Luxury Condos, Brickell Real Estate, Imperial At Brickell Condo Market, South Brickell Condo Market, Uncategorized

A corner/end unit at the Imperial at Brickell has just come on the market.  These units are very unique because of the way that the Imperial was designed by renowned firm Arquitectonica.  The feature that is absolutely unbeatable and sets it apart from any other building is the balcony.  It’s over 600 square feet, covered and wraps around the condo on three sides. The views are amazing and include water views, city views and sunset views.

Here are the details on this listing:

• Three bedrooms with two full baths and a guest powder room

• 1,792 square feet of air conditioned living area

• Floor to ceiling glass sliding doors provide easy access to the wrap-around balcony from all rooms.

• Separate living and sleeping areas invoke a nice spacious feeling for family living

• Motivated Sellers (not indicated as a short sale or foreclosure right)

• Last regular sale was in January of 2005 for $455,000

• Tiled throughout

• List price is $664,900 or $371 per square foot

We recently sold a slightly smaller three bedroom in the building that was not a corner unit for $555,000, and a similar unit also sold for $680,000.  Prices at the Imperial at Brickell are still evening out.

For more information about this or any condo in Brickell please contact us directly.

*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.

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 Thomas Grimshaw | Discussion: Leave A Comment

Icon Brickell Condo Layouts with a Den Increase Options for Owners and Investors

August 12th, 2013 Written By Thomas Grimshaw

Categorized under Brickell Luxury Condos, Icon Brickell Tower One Condo Market, North Brickell Condo Market, Uncategorized

One of the most compelling features of some of the units at Icon Brickell are the layouts which include a “Den”. The developers were very smart with these layouts because the additional space provides the unit owner with many options.

The den is located off the hallway just as you enter the unit.  It has a decent size closet and is shares a bathroom with one of the bedrooms.  This den space must be called a den because it does not have a window.  A window is what would allow the den to actually be called and sold as an additional bedroom.

Many Icon Brickell Unit owners use the den as a bedroom by simply putting up a wall and adding a door.  This increases the sleeping capacity of the condo.  Of course many also just use it as a den, a library, an office a media room.  They key here is that it allows flexibility.

Unit 1805 at Icon Brickell Tower One Just sold for $755,000 after 88 days on the market.  The layout, shown in the image above includes two bedrooms, two bathrooms and a library/den.  It was a cash deal.  with 1,313 square feet of living area this represents $575 per square foot.  It last sold in January of 2011 for $630,000.

For more information about this or any condo in Brickell please contact us directly.

*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.

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 Thomas Grimshaw | Discussion: Leave A Comment