Comments on: Onyx on the Bay Note Purchased By Hyperion Onyx Partners, LLC

By: Lara

Lara — Thu, 31 Dec 2009 22:49:24 +0000

Did the new owner start selling the units?

By: Joe

Joe — Thu, 31 Dec 2009 19:12:35 +0000

AJA — You should post in the newest thread here on the site. People usually stop posting in the old threads as soon as Lucas posts a new one. It’s kind of an odd quirk of this site, but that’s the trend here. Good luck with your search.

By: AJA

AJA — Thu, 31 Dec 2009 13:51:33 +0000

I was looking forward to rent a loft in the Onyx and than maybe to buy. Now I stumbled over this page and while I am from Atlanta I have no idea about the neighborhood surrounding Onyx on the Bay. I am quite concerned now, I really dont want to be a prisoner in my own home, even I got the lease down from $1800 to $1500 for a 1083sf 2 story corner loft, it seems that regarding the location (crime) its not even worse $1000.
I love the corner view, really awesome. But when I came to seet he unit, there was a big water leek in the hallway ceiling close to the unit. For a only 3 yrs old building it shows that there must be a view construction issues just as Neo Vertika.

However, you guys know where I should be searching for a nice bayview unit for rent or even to buy. How much should be my offers ($ 125/sf ?). I have seen nice units in the Platinum. Would really appreciate some help from you guys.

By: Grant

Grant — Tue, 24 Nov 2009 10:16:52 +0000

Johnny, you’re right they did declare bankruptcy. The situation is that the existing unit owners only constitute about 40% of the sq ft of the building. The two lines that didn’t sell are on the north and south of the bldg and they are the larger units. The HOA has sufficient funds to pay for the ongoing ops of the building but not to meet their commitments re the completion of the decoration and the garden. The developer was meeting the payments until Corus went bust, but now they’re all bust. This is the problem. It means that there’s no chance of lenders being happy to provide mortgages until either Hyperion steps up and starts making payments vs the units or until the units are sold. Expect some cheap sales soon.

By: johnny

johnny — Sat, 21 Nov 2009 03:01:36 +0000

I just learned that the Onyx HOA is in bankruptcy. Does anyone know the implication of this? For current owners? Prospective buyers?

By: iphoneapi

iphoneapi — Mon, 26 Oct 2009 13:42:08 +0000

By: Riley

Riley — Sat, 19 Sep 2009 14:52:20 +0000

Remember, banks are requiring downpayments of approx 25% on any Miami condos. I’ve been shopping for condos in the same area as the Onyx and have found $200 per square feet to be the average. Prices are expected to drop another 8%. Not until the banks loosen their loan guidelines, will Miami be able to rebound. There are not too many folks who can or will come up with 25% down payments. Too bad a few bad seeds ruined the entire housing market for the rest of us.

By: RoxMIA

RoxMIA — Fri, 18 Sep 2009 12:42:55 +0000

I always read this blog but rarely comment but i have to speak up today. to MG Marina Blue: i have lived at marina blue since they opened the building (I have rented two different units since then) and totally disagree with your statement that this is a “hovel”. My apartment has a view that would make you pee your pants, the management is on top of EVERYTHING and the people that developed this building closed 100% of it and paid the bank (early!). I don’t know any other building in miami that can claim that. Everyone pays their maintenance and the place is almost fully occupied – dare I say “thriving”?? I see photographers in the lobby shooting all the time. Those are the things that matter – everything people bitch about is par for the course in a condo (the garbage chute is stuck, bla bla bla).

By: Johnny Dollar

Johnny Dollar — Thu, 17 Sep 2009 03:17:10 +0000

JL ACE is probably panhandling in front of CHECKERS before heading to his cardboard box for the night.

By: JL

JL — Thu, 17 Sep 2009 03:06:32 +0000

Ace/Odd & Sods/Condo Vulture,

Quit with the multiple personality game. Real Estate Bulls and Bears know you are a paper trading tard. Stay in School. A mind is a terrible thing to waste.