I just noticed a 2 bedroom/2 bath short-sale at One Miami that is priced at $329,900, or $282 per square foot. My August Brickell Condo Index revealed that condos at One Miami have sold for an average price per square foot of $450.94 over the past six months. A 2/2 located directly three floors above the short-sale unit sold for $489,500 on April 26, 2007.
I highly doubt, however, that the bank will accept an offer even close to the $329,900 list price. They definitely won’t pay the 4 percent commission that the listing is advertising. I spoke with the listing agent to find out if the list price is close to what the bank is owed. He said no, the bank is owed much, much more. It is probably a waste of time but it will be interesting to see at what price it ends up selling. Some banks are ready to play ball and some still aren’t. My guess is that it will end up being repossessed by the bank.
4 responses so far ↓
1
Keith
/Sep 23, 2007 at 11:49 pm
Vote: 
Lucas …
For units at One Miami… what’s the possibility of purchasing two units side by side and combining into one larger unit, maybe A2+A3 Units… will the builder/zoning allow it? … Thx
2
Lucas Lechuga
/Sep 24, 2007 at 10:03 am
Vote: 
Keith,
I spoke with the association and they told me that it is allowed as long as you get the appropriate permits to do the work.
3
santiago
/Oct 12, 2007 at 12:16 am
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hi,
Which floor ?
tks
4
santiago
/Oct 12, 2007 at 12:21 am
Vote: 
Hi, i’m interested to see the unit, please let me know, tks
Santiago,,
floor 18 , its ok !
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