I Should Have Bought Unit 2006 At The Imperial at Brickell

November 30th, 2012 Written By


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

I’m kicking myself.  Today condo unit #2006 at 1627 Brickell Avenue closed.  When I saw it come on the market, I made a mental note to go and see it.  This listing agent is even a friend of mine.  Then life got busy and I forgot about it.  Now it’s gone.  Sold for $375,000 or $285/sq. ft. after only 53 days on the market.

The Imperial is a small building, with only about 180 units, most of which are two or three bedroom condos.  Unit 2006 is one of the smaller units at 1,316 sq. ft. of air conditioned living area.  The floorplan is fantastic, being a split plan set up like two master suites flanking the living dining area.  All rooms except the kitchen have access to an enormous terrace that runs the length of the condo facing South.  There is wonderful light all year round.  The other fantastic feature of the “06” line at the Imperial is that it is the second unit in from the bayfront.  Since the Imperial is sited perpendicular to it’s neighbor on the South side, the Santa Maria, the views from the “06” line are expansive and wide from SE to SW.

I used to own and live in unit 2406. I sold it for $565,000 at the height of the market in January of 2006. Now I’m on the hunt for another “06” line at the Imperial. I guess I’ll just have to wait. Or maybe someone will read this and call me.  Stranger things have happened.

The Imperial at Brickell has a Walk Score of 78  –  Very Walkable.   Most errands can be accomplished on foot.
To see all units available at the Imperial click 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.

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Another Sale At The Four Seasons

November 29th, 2012 Written By


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

Condo Unit 65C at 1425 Brickell Avenue, The Millenium Tower Residences, closed yesterday for $1,350,000. The sale represents only 5% less than the asking price of $1,420,000. This condo was on the market for 33 days before going under contract for sale.   The sale price reflects $631/sq.ft and the buyer paid cash.  Property was listed by Rex Hamilton Corp.

The “C” line in this building, branded as the Four Seasons Tower, features two bedrooms with two and one half baths in 2,139 sq. ft. of air conditioned living area. One assigned garage parking space and valet parking are included.  The monthly maintenance fee is $1,559 and includes all of the amenities one could imagine, including access to one of Miami’s best fitness facilities, The Sports Club LA/Miami.  On a side note, I’ve seen Mark Wahlberg, Matt Damon and Carlos Ponce working out there recently.  Just one of the bonuses of having the Four Seasons Hotel Miami in the same building.

There are only 186 residences in the entire tower, so if the Four Seasons Miami lifestyle is what you are after, don’t be too judicious with your time. Right now 17 residences are available for sale ranging in price from $799,000 to $15,000,000.

To view all condos for sale at the Four Seasons, click 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.

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Two Closings At Icon Brickell Showcases Extremes

November 28th, 2012 Written By


Categorized under Icon Brickell Tower One Condo Market, Icon Brickell Tower Three Condo Market

Today Unit #4413 at 475 Brickell Avenue (ICON Brickell Tower I) closed for $575,000. You might remember that we wrote about this condo (Quick Contract On Unit 4413) a couple of weeks ago because it went under contract in only 18 days. The asking price of $600,000 was on target, and the condo was furnished beautifully. The buyer used conventional financing to make the purchase. The closing price of this two bedroom/two bath condo reflects $568/sq. ft.

Also today, unit 4205 at 495 Brickell Avenue (ICON Brickell Tower II) closed for $670,000. Of note here is that this condo was on the market for 443 days before going under contract. The property was listed for $725,000 and the selling price represents only $507/sq. ft. There were no photos or description of this two bedroom/two bath condo in the MLS.

One can draw their own conclusions, but clearly pricing, product presentation and promotion come to mind as to why such differences in price/sq. ft. and days on market exist.

Click here to see what is available at the Icon 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.

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Celebrity Pharrell Williams Selling His Bristol Tower PH?

November 27th, 2012 Written By


Categorized under Brickell Luxury Condos, Brickell Penthouses, Bristol Tower Condo Market, South Brickell Condo Market

PH4000 at 2127 Brickell Avenue (also known as the Bristol Tower in Miami’s South Brickell Neighborhood) just hit the market for $16,800,000.

PH4000 last sold in March of 2007 for $13,950,000 (list price was $16,900,000) and the buyer was reportedly Pharrell Williams, famous music producer and performer who has worked with Justin Timberlake, Gwen Stefani, Britney Spears, Snoop Dog among other artists.  The seller at that time was the original owner and Bristol Tower developer, Ugo Colombo.  The property features five bedrooms, a glass-enclosed gym, a pool on the garden terrace and amazing views of Miami.   At that time Williams also owned an $8.45 million dollar condo at 10225 Collins Avenue in Bal Harbour.

On the MLS, the listing property is currently described as: “Sophisticated, expansive, soaring, illuminated: an apt description of a true tri-level, 360′ palace in the sky. The views are beyond compare— the ocean, the bay and the city unfold before you to infinity & beyond. Expansive living space backdropped by walls of glass. Fine granite & wood floors, each room is dressed with luxury appointments & custom built-ins. Spacious pool terraces, second level pool, summer kit & rooftop terraces all combine to create a tropical feel atop the world!  Unparalleled living.”  There is no mention of celebrity ownership.

In NYC, on the contrary, Madonna’s former UWS Duplex just hit the market for $23,500,000 and is being heavily marketed using her ownership to push a large but otherwise seemingly unremarkable property.

Would you pay a premium to live in a property formerly owned by a celebrity?  We’ll see how these properties do and keep you posted.

PH4000 is listed by Coldwell Banker.

To view all units on the market in the Bristol Tower click 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.

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Price Increase At The Jade At Brickell

November 26th, 2012 Written By


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

We were notified of a price increase today at The Jade at Brickell that caught our attention.  Unit 2401 hit the market last week with a list price of $1,480,000 or $788/sq. ft.  Today, the price on that unit was raised to $1,550,000 or $825/sq. ft.

You may remember our recent October market update for The Jade At Brickell, which showed an average sale price/sq. ft. of $644. That update also reported the highest price per sq. ft. of any condo sold at The Jade at Brickell in the last six months to be $652.

So the million dollar question is….”Why would they raise the price?”

What this looks like to us is over-pricing following over-pricing, and here is why:

There are three “01” line condos for sale right now, all have 1,870 sq. ft. of air conditioned living area.  The “01” line is on the NE corner of the building with very nice views.

  • Unit 1001: $1,500,000, 2 Bedrooms, 2.5 Baths.  Listed for sale on 11/14/12.
  • Unit 2401: $1,550,000, 2 Bedrooms, 2.5 Baths.  Listed for sale on 11/13/12, price was raised on 11/19/12.
  • Unit 2101: $1,575,000, 3 Bedrooms, 3 Baths.  Being sold furnished.  The third bedroom can’t technically be sold as a bedroom because it has no windows.  It has been on the market for sale for over 14 months.

In conclusion, it appears that one over-priced unit has caused two other units to be over-priced.  If you are serious about selling, it is imperative that you base your pricing strategy on comparable properties that have actually sold.  This is especially true in a building where there are many units for sale in the same line.  Something else to keep in mind, a bank will only give financing based on recent sales prices.  Anything higher requires more cash and an uninformed buyer.   It will be difficult to find a buyer who meets this criteria in today’s market, however with Art Basel Miami Beach coming in town one never knows who might need a place to hang new art.

To view all condos for sale at the Jade At Brickell Bay, please click 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:

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Quick Sale At Brickell Bay Club #1705

November 20th, 2012 Written By


Categorized under Brickell Bay Club Condo Market, Brickell Real Estate, Brickell Waterfront Condos

One of our favorite of the more established buildings in the South Brickell neighborhood, Brickell Bay Club currently has ONLY five units for sale out of 452.  That is less than two percent of all units.

A great example of why this building is doing so well is because the units in that have been for sale recently have been priced right at market value.

Unit 1705 just sold for $400,000, about $274/Sq. Ft.  This is slightly below market value and if the owners had been willing to wait, they may have gotten more.  But it was a cash deal and that is very attractive.  This is why this renovated 2 bedroom/ 2 bathroom corner unit sold in 56 days.  Listing broker was Florida Realty of Miami.

To view all condos for sale at Brickell Bay Club, click here.

If you know anyone in the Brickell Bay Club, at 2333 Brickell Avenue who is thinking of selling, please tell them to contact us.  We know how to price and market to procure the best possible price.

You may also be interested in our other recent posts about Brickell Bay Club:

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

Jade At Brickell Bay | October 2012 Update

November 16th, 2012 Written By


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

The Jade at Brickell Bay, with it’s bayfront location in Miami’s Brickell Financial Neighborhood, is becoming one of the most sought after locations in Brickell for both full-time and part-time residents. The Jade also has a fairly liberal pet policy for owners, allowing up to two pets with a combined total weight of 50 lbs.

Located at 1331 Brickell Bay Drive, there are a total of 338 units in 46 floors, ranging in size from one to four bedrooms.

The October 2012 Market Update shows the Jade at Brickell Bay in a very healthy position.

Here are the stats:

  • 24 – The number of condos currently for sale. Only 7% of all condos. Anything under 10% could be considered a seller’s market
  • 2 – the number of Closed Sales
  • $1,245,000 – Average sale price
  • $644 – Average sale price per square foot
  • 4 – the number of Pending Sales
  • $2,860,000 – the most expensive condo for sale, a four bedroom unit on the 35th floor
  • $325,000 – the least expensive condo for sale, a one bedroom unit on the 9th floor

To view all condos for sale at the Jade At Brickell Bay, please click here.

You may also be interested in reading:

Sold! 4 Bedroom Condo At Jade Brickell $571 psf

I’d Love To Live At The Jade 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

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Written by Thomas Grimshaw | Discussion: Leave A Comment

Brickell Condo Market Update | October 2012

November 15th, 2012 Written By


Categorized under Brickell Real Estate

Now that we are in November, we’ve had a chance to analyze the market data for October 2012 with a comparison where applicable to October 2011.  There are some amazing trends.  As you will see below, we are in a much healthier market compared to last year at this time. The number of closed sales is up 22% while the average sale price is down which reflects a much more balanced market.  This points to the fact that financing is more readily available now than 12 months ago.  Also supporting this is that condos are selling at an average price per square foot of $413, up 11.3% from last year.  And lastly, they are selling more quickly as buyers are more confident and have better access to funds.

A couple of other data points that we think are interesting:

  • 602 – The number of condos available for sale in Brickell today.
  • 141 – The number of $1,000,000+ condos for sale in Brickell.
  • $15,000,000 – The highest priced condo currently for sale in Brickell.  It’s a Penthouse at the Four Seasons Hotel and Residences.
  • $139,000 – The lowest priced condo right now for sale.  It’s a studio at the Four Ambassadors.

*Brickell is defined as the area South of the Miami River, East of 1st Avenue and including all of Brickell Avenue and Brickell Key.

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

Brickell Lifestyle Report | Staying Fit And Healthy Is Easy On Brickell

November 13th, 2012 Written By


Categorized under Brickell Life

You’ll find that most of the condo buildings in Brickell have at least a decent gym and or pool/spa. That alone leaves us no excuses for being out of shape.   Ha ha ha.  If only it were that easy. Thankfully, there are plenty of great options here in Brickell for those of us who need a little more motivation than being able to take the elevator down to a treadmill. I have grouped them by category and listed my favorites.  In my opinion of course…

Gyms

  1. SportsClub/LA Miami
  2. Viceroy Hotel Miami Spa & Fitness Center
  3. L.A. Fitness Signature Club

Mind/Body

  1. Brickell Hot Yoga
  2. Bikram Brickell
  3. Sanctuary 7
  4. Morphe

Eating

  1. LifeFood Gourmet
  2. Choices Vegan Cafe

Except for the L.A. Fitness Signature Club at Mary Brickell Village, I’ve personally visited each of these and can highly recommend them as convenient and healthy options for those of us in Brickell who want to maintain a healthy and fit lifestyle.

And please tell them we at the Brickell Condo Blog told you to come.

We know 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

Unit 53C at Four Seasons Residences Under Contract In 68 Days

November 9th, 2012 Written By


Categorized under Four Seasons Condo Market, Millenium Tower Residences

There has been a lot of activity at 1425 Brickell Avenue.  While it is the Four Seasons Tower, technically it is not part of the hotel program and it’s rightful name is Millenium Tower Residences. The address for the Four Seasons Hotel Residences is 1435 Brickell Avenue.

I highlight this unit for two reasons. The first is that it went under contract in only 68 days.  This is much more quickly than the current average of about 180 days, which is just about right for a healthy condo market.  The second reason is that the list price on this 2,139 sq. ft. n(199 m2) condo is $1,450,000 and represents exactly $677/sq. ft. ($7,286 m2).  This is important because, if you read my recent post about prices for two bedroom condos in Brickell, I highlighted the recent sale of unit 45A, which sold for exactly $677/sq. ft. ($7,286 m2) Clearly unit 53C was priced right on the money, perhaps slightly below market value.  Property was listed by The Jills of Coldwell Banker.

Of course two memberships to the Sports Club/LA Miami which is in the building, are included.

To view all condos for sale at the Four Seasons, click here.

Correct pricing is an art, and we do it well.  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

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