UPDATE Four Seasons Penthouse 70F SOLD for record $1,358 per square foot

May 8th, 2013 Written By


Categorized under Brickell Luxury Condos, Brickell Penthouses, Brickell Real Estate, Brickell Waterfront Condos, Four Seasons Condo Market

Four Seasons Sale

There seems to be a lot of activity around Penthouse level condos. This is nothing new for Miami, where we even have Junior PH levels due to some serious marketing minds and the unending desire for some sort of bragging rights.

We are happy to report the sale of PH 70F at the Millenium Tower Residences, also known as the Four Seasons Miami at 1425 Brickell Avenue.  We wrote about this property recently on our blog, view post here.

The sale price of $5,200,000 represents just over $1,358 per square foot, really raising the bar to new heights.   It was on the market for 225 days before selling.

PH 70F was listed by EWM Realty International

Click here to see all condos available at 1425 Brickell Avenue, including the $27M exclusive residence customized by combining three adjacent units on the 54th floor.

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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Written by Thomas Grimshaw | Discussion: Leave A Comment

Penthouse At Carbonell On Brickell Key

May 7th, 2013 Written By


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

Carbonell Terrace

As of today, the nicest condo for sale at Carbonell on Brickell Key, and possibly even the nicest on all of Brickell Key is PH 3807. Here is why:

  • Private roof top terrace overlooking Biscayne Bay and Dowtown Miami
  • Four (4) Premium Covered & Secure Parking Spaces
  • Four (4) Air conditioned storage units in the building
  • Three bedrooms all with private bathrooms
  • Grand double height ceilings in the living room
  • 3,403 square feet (316 m2) of air-conditioned living space
  • WalkScore of 89

Of course all of the other requirements have also been met. Marble, top of the line appliances, finished closets and built-ins.

But the one thing that really makes this the best is that the new buyer will also take ownership of a 2004 Jaguar XJ8. OK, so maybe not, but at least you can drive yourself to buy whichever automobile you’d like.

Carbonell PH 3807 is listed for sale by EWM Realty International.

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:

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Brickell Key Condo April 2013 Market Update

May 6th, 2013 Written By


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

Property values on Brickell Key continued to climb in April. As usual, even more than Brickell in general.

Here are the actual numbers:

Brickel Key Chart April

Inventory is down in April from 112 to 108 condos actively for sale on Brickell Key.

Pending Sales are also down from last month. 56 in April versus 60 in March.

The most expensive condo for sale on Brickell Key is still a five bedroom unit at ASIA for $9,000,000. The least expensive is one bedroom at Brickell Key II for $250,000. For a confidential and private viewing, please contact us directly.

With no new buildings planned and the newest building on Brickell Key being ASIA, built in 2008, this is pure supply and demand at work.

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

April 2013 Update For The Brickell Condo Market

May 3rd, 2013 Written By


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

The April 2013 numbers are in! Where possible we’ve compared them with April 2012 to show trends. It may sound like a broken record, but the gains are still impressive, even after an incredible month like March. Have a look:

April Brickell

If you have been following our Blog you will also recognize that in March there were 595 condo units available for sale in Brickell. Now as of April 30th, there were 612. This is noteworthy because it the the first time this year that there was actually an increase in available inventory from the previous month. We’ll have to watch this to see if it becomes a trend. We believe that values in many buildings have now reached or surpassed the point where owners who bought high and have been underwater are now at a point where they can consider selling and are listing their properties for sale. Our opinion is that this trend will continue and we will see a more steady stream of inventory, especially in the buildings built between 2007-2009.

If indeed this is the case, we should see steady growth in values over the next 12-18 months, but not the percentages that we have seen in the past year. This is good news for buyers and seller.

It will be at least another year before we see any resales of the new buildings going up. Another new development, The Bond in Brickell was announced this week. The Bond will be located at 1080 Brickell Avenue and span the space between Brickell Avenue and South Miami Avenue. We’ll be writing more about The Bond soon.

If you are thinking of selling now is the time to get your property on the market. If you are a buyer in the market and you see something you like, do not wait.

*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:

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Jade Brickell Reaches New High Sale Price per Square Foot

May 2nd, 2013 Written By


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

Jade At BB

Unit 2311 at the Jade Residences at Brickell closed yesterday after just 26 days on the market. The sale price of $1,275,000 is 98% of the list price which was $1,300,000. Of course this condo was beautifully furnished and finished, which contributed to the quick sale and record price.

Unit 2311 stats:

  • Two bedrooms
  • Two and one half bathrooms
  • 1,878 square feet of air-conditioned living area
  • Corner unit facing East with direct Bay and Ocean Views
  • Wrap-around balcony
  • Marble and wood flooring throughout

The most important news here is that this sale set a new record high sale price per square foot of $678 for the past 12 months. Buyers are recognizing quality and are willing to pay for it within reason.

In the last 90 days the average sales price per square foot has been $544 and average days on the market has been 209.

Click here for details on all condos currently available at the Jade at Brickell Bay, 1331 Brickell Bay Drive.

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:

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Pricing Options for Selling Your Brickell Condo

April 30th, 2013 Written By


Categorized under Brickell Real Estate, Brickell Waterfront Condos

Brickell Key Photo

This morning I was on a listing appointment at a condo in a waterfront building on Brickell Avenue.  These particular sellers have owned the condo since the mid 90’s and have some equity to play with. Like all sellers they want to sell for the maximum number possible in today’s market. In this particular case, they would like to sell so that they can buy a house. They are not in a position where they need to sell.  This means that they have two pricing options, I’’ll explain what we mean below.

This particular building has had enough recent comparable sales to create a foundation for their pricing decision. It also has a comparable condo that is for sale for a significant amount more than the average of the last three comparable sales. I know the other Realtor and have shown this beautifully renovated unit many times. It just received an offer close to asking price. It must be a cash offer, because it will not appraise for a high enough amount to qualify for conventional mortgage financing.

That leads me to the options that we laid out for the Sellers during our listing meeting this morning.

Option #1:

Appeal to the largest pool of possible buyers by pricing their condo for sale based on the sale prices of the last three comparable units. Also taking into consideration differences in views, floor height in the building and any significant upgrades and the number of parking spaces. This allows buyers who need to get a conventional mortgage to have this condo in their consideration set. This strategy will also allow for the soonest sale at the best price in the market at this time.

Option #2:

Base the list price on the comparable unit that is for sale and has accepted an offer. Taking into consideration all of the potential differences mentioned in Option #1. This approach is less sure to secure a sale and will certainly involve a longer sale time because the pool of potential buyers is reduced to those willing and able to make a cash offer. That is, an offer with no mortgage approval contingencies. But the upside is that the sale price could be higher.

We’ll let you know which strategy they choose in another post soon.

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

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Brickell Condos With Dock Space!

April 29th, 2013 Written By


Categorized under Brickell Biscayne Condo Market, Brickell Harbour Condo Market, Brickell Place Condo Market, Santa Maria Condo Market, Villa Regina Condo Market

Brickell Dock Space

Believe it or not, there are five condo buildings in the Brickell area that are waterfront and have private marinas for owners to keep their boats. With easy and direct access to Biscayne Bay, the Atlantic Ocean and the Intracoastal waterway, what better way to enjoy a Miami lifestyle than by having your boat docked right outside your building.  Ready to go for a weekend in the Bahamas, a day at Elliot Key or a sunset cruise.

Below are the buildings in the Brickell area that have marinas. Click on each link to see the condos that are available for sale.  Some do not have dock space included with the sale of the condo but we have been able to find excellent options for our clients.   For example, dock space can usually be sold or leased between owners/residents.  The price varies from building to building.  Just ask us, we can help.

If you are an owner who is interested in selling or knowing the value of your unit or dock space, please contact us as we always have buyers who are looking.

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

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Villa Regina Brickell – Market Update

April 24th, 2013 Written By


Categorized under Brickell Real Estate, Brickell Waterfront Condos, Villa Regina Condo Market

Just like many of the “older” buildings on Brickell Avenue, Villa Regina at 1581 Brickell is enjoying a renaissance of sorts. It’s definitely being rediscovered by buyers who are looking for more spacious condos than what is being offered in many of the buildings that were built in the last five years.

The building enjoys a prime waterfront location on Brickell Avenue, just south of 15th Road. This means walking distance to Mary Brickell Village, restaurants, shopping and offices in the financial district. Villa Regina is also one of the few buildings in the Brickell Area with it’s own marina. Boat slips are available for ownership or use only to residents of Villa Regina.

Here is an update on units that are For Sale, are Pending Sale(have accepted an offer) and units that have sold in the past six months. Eight units have sold at an average of $306/sq.ft and an average of 245 Days On the Market. There are some very unique units at Villa Regina and if you take them out of the mix, most units, if priced properly should sell within 120 days in today’s market.

Villa Regina Condos (click on chart to view full page version)

Villa Regina

*All data is from SEF MLS.

To see more details of all available units at Villa Regina(1581 Brickell Avenue), please click here.

Interesting fact: If you have been to Tel Aviv, you will notice a design resemblance between Villa Regina and the Dan Hotel. Both colorful designs are by artist Yaakov Agam.

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

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Living At A Luxury Hotel In Brickell

April 22nd, 2013 Written By


Categorized under Brickell Real Estate, Brickell Waterfront Condos, Four Seasons Condo Market, Millenium Tower Residences, Viceroy Residences Condo Market

Four Seasons Pool

Ever since I was a kid and first heard about Eloise, the children’s character who lives at The Plaza Hotel in New York, I have always wanted to live in a luxury hotel. Well it seems I am not alone. Last week, I showed condo-hotels to clients from Puerto Rico and this weekend I received a call from a reader of this blog, who lives in Brazil, and wants to buy a condo in a Miami Luxury Condo-Hotel building. Specifically the Four Seasons Residences or the The Residences at the Epic.  The reasons for being so specific about buying in a building that also houses a luxury hotel include:

  • Living in a luxury environment
  • Security beyond what is offered in a traditional condo building
  • Being able to take advantage of the concierge services and amenities of a luxury hotel
  • Preferred access to great restaurants and Spas
  • Use of the Hotel as an extension of their home for guests and extended family
  • Potential of including your property in the Hotel Rental Program

The benefits are especially attractive to second or third homeowners who are not living full time in their condos.

Please click on the links below to see all available properties at the following buildings that include a luxury hotel:
Four Seasons Millenium Tower Residences (1425 Brickell Avenue)
Four Seasons Millenium Tower Condo Hotel (1435 Brickell Avenue)
Conrad Hilton Mayfield Condo Hotel (1395 Brickell Avenue)
Viceroy Residences at Icon Brickell (485 Brickell Avenue)
Epic Residences Downtown (200 Biscayne Blvd. Way)

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:

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Written by Thomas Grimshaw | Discussion: Leave A Comment

In Brickell, An Over Priced Two Bedroom vs. An Under Priced Three Bedroom

April 18th, 2013 Written By


Categorized under Brickell Life, Brickell Luxury Condos, Brickell New Construction Condos, Brickell Real Estate, Four Seasons Condo Market, Viceroy Residences Condo Market

Successful financial plans

I spent the last three days showing potential condos in Brickell to clients from out of town. Here are my notes from the trenches:

  • A nice two bedroom condo in a better building in Brickell is going to cost at least $575,000 and more likely up to $700,000.
  • There are very few options at the moment in this price range. Depending upon the building we had between 1 – 3 condos for sale to consider. In some buildings, there were none.
  • The ability to rent your condo short term is very limited. Only buildings with a hotel component are real options. In Brickell this means, The Viceroy at Icon Brickell, The Mayfield Condo (part of the Conrad) and the Four Seasons Miami Residences.
  • Walk Score and the ability to live a city lifestyle have become incredibly important to buyers who want to be in Brickell specifically to be able to enjoy all of the restaurants and retail that has emerged.
  • There are more families and children living in Brickell than ever before.
  • The new developments, My Brickell, Millicento, Brickell House, SLS Brickell Residences and Echo Brickell are all being sold without financing contingencies and it’s working. SLS Brickell and Echo are the two most recent and the only new developments with availability. And none of them are waterfront.
  • Some buildings are still undervalued compared to the rest of Brickell and make for great investment opportunities. Imperial at Brickell and Villa Regina are some of the best examples.
  • Don’t fall in love with a condo without crunching the numbers. These clients fell in love with a stylishly renovated two bedroom condo in one building. Really in love. I loved it also, but felt the price a little out of whack. By researching the recent comparable sales and everything else that is available for sale, they came to the conclusion that making an offer on a three bedroom that was underpriced was going to be a much better investment for them than the two bedroom that was already renovated.and priced very high because of the upgrades.
  • Finally – when you need a break from a hectic day of looking at property, head over to Cafe Sambal at the Mandarin Oriental Miami and sit outside. Terrific food, service and the view of Brickell can’t be beat.

Pricing is a combination of science and art and it takes an experienced Realtor to get to the right number, whether for a buyer or a seller. We’ve got the experience and a successful business model.

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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