Comments on: Ten Museum Park Penthouse Sells for $250 Per Square Foot http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/ Luxury Miami Condos in Miami, South Beach, Brickell and South Beach | Miami Condos Blog Tue, 16 Mar 2010 03:13:44 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: mick http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20551 mick Wed, 09 Dec 2009 14:30:28 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20551 What do you think about Park Ten overall? Should I buy there and what should I pay per sq ft for a 2 bedroom? What do you think about Park Ten overall? Should I buy there and what should I pay per sq ft for a 2 bedroom?

]]> By: Snowball http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20395 Snowball Sat, 28 Nov 2009 15:20:18 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20395 AJ, Re: "You will also run the risk of higher interest rates (not by much but by 1 or 2 points of APR) in 6 months from now." You touch upon a risk I have difficulty quantifying. What happens when the economy does "take hold" and interest rates begin to return to "fair market"? If mortgage rates increase but the recovery is tepid to moderate, won't that put enormous pressure on housing prices? It would seem, unless incomes increase substantially, there will be renewed pressure. Your take? Snowball AJ,

Re: “You will also run the risk of higher interest rates (not by much but by 1 or 2 points of APR) in 6 months from now.”

You touch upon a risk I have difficulty quantifying. What happens when the economy does “take hold” and interest rates begin to return to “fair market”?
If mortgage rates increase but the recovery is tepid to moderate, won’t that put enormous pressure on housing prices? It would seem, unless incomes increase substantially, there will be renewed pressure.

Your take?

Snowball

]]> By: JMG http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20382 JMG Thu, 26 Nov 2009 13:39:56 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20382 Don't kid yourselves--Club Space is insane. There is no actual roof. Hurricane glass will not save you from dealing with this and it just gets "rockin" at 3 in the morning and goes well into regular morning every week-end and on special occassions, such as Thanksgiving, instead of the Macy's Day Parade, we in The Corridor are treated to the very American sounds of (insert here what this noise actually is because it's not music so much as thudding). It will also not save you from the idiots who stumble into their cars and drive off. Back to Thanksgiving morning and I just watched someone being backboarded into an ambulance right in front of 900 Biscayne after a car wreck--kudos to security for their part in handling the scene but folks, building security is only going to get you so much security. I also saw the CSI of last week's 6 am fatal shooting on the route most of us take to 395/95 hoping to see a film crew and have it all be scripted (old LA habits are hard to break given it was a white Bronco type vehicle surrounded by police was hoping it was just a harmless chase with OJ). To hear the thudding of Club Space amid the aroma of the sewage station on the east side at 10th. I'm not sure what therapy you'd need at your neighborhood Swiss Spa to remedy this life of luxury as truly splendid as some of these units actually are. Prices are an imperitive part of real estate but as neighbors, developers, real estate agents, investors, and decent human beings with a few neurons of common sense not thudded out of our heads, we need to unite to fix the location, location, location. Sofi is so great because they are actively involved in keeping their neighborhood a residential area first and foremost amid being one of the most desirable commercial districts on the planet. To make this area truly livable, it's going to take the same effort. Don’t kid yourselves–Club Space is insane. There is no actual roof. Hurricane glass will not save you from dealing with this and it just gets “rockin” at 3 in the morning and goes well into regular morning every week-end and on special occassions, such as Thanksgiving, instead of the Macy’s Day Parade, we in The Corridor are treated to the very American sounds of (insert here what this noise actually is because it’s not music so much as thudding). It will also not save you from the idiots who stumble into their cars and drive off. Back to Thanksgiving morning and I just watched someone being backboarded into an ambulance right in front of 900 Biscayne after a car wreck–kudos to security for their part in handling the scene but folks, building security is only going to get you so much security. I also saw the CSI of last week’s 6 am fatal shooting on the route most of us take to 395/95 hoping to see a film crew and have it all be scripted (old LA habits are hard to break given it was a white Bronco type vehicle surrounded by police was hoping it was just a harmless chase with OJ). To hear the thudding of Club Space amid the aroma of the sewage station on the east side at 10th. I’m not sure what therapy you’d need at your neighborhood Swiss Spa to remedy this life of luxury as truly splendid as some of these units actually are. Prices are an imperitive part of real estate but as neighbors, developers, real estate agents, investors, and decent human beings with a few neurons of common sense not thudded out of our heads, we need to unite to fix the location, location, location. Sofi is so great because they are actively involved in keeping their neighborhood a residential area first and foremost amid being one of the most desirable commercial districts on the planet. To make this area truly livable, it’s going to take the same effort.

]]> By: Kasia Demare http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20358 Kasia Demare Tue, 24 Nov 2009 13:07:25 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20358 don't think, that it is real... How can I contact you? don’t think, that it is real… How can I contact you?

]]> By: computer consultant http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20295 computer consultant Wed, 18 Nov 2009 22:17:55 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20295 Wild Bill, This is where they are now. HOA 500-700 and taxes about $300. Wild Bill,
This is where they are now. HOA 500-700 and taxes about $300.

]]> By: Wild Bill http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20293 Wild Bill Wed, 18 Nov 2009 18:56:59 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20293 Older buildings in Sunny Isles should be a maximum of $500 to $1000 monthly burn rate assuming the unit is paid in cash. Older buildings in Sunny Isles should be a maximum of $500 to $1000 monthly burn rate assuming the unit is paid in cash.

]]> By: computer consultant http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20292 computer consultant Wed, 18 Nov 2009 18:55:40 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20292 Mortgage applications for purchases are lowest since 1997 http://www.realtor.org/RMODaily.nsf/pages/News2009111802?OpenDocument Mortgage applications for purchases are lowest since 1997

http://www.realtor.org/RMODaily.nsf/pages/News2009111802?OpenDocument

]]> By: computer consultant http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20291 computer consultant Wed, 18 Nov 2009 17:26:11 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20291 Ace, How much would you pay for Sunny Isles new construction on the beach and older buildings across the street? Ace,

How much would you pay for Sunny Isles new construction on the beach and older buildings across the street?

]]> By: iphoneapi http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20290 iphoneapi Wed, 18 Nov 2009 11:17:26 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20290 Good article Good article

]]> By: The Ace http://www.miamicondoinvestments.com/2009/11/13/ten-museum-park-penthouse-sells-for-250-per-square-foot/comment-page-2/#comment-20289 The Ace Wed, 18 Nov 2009 10:20:22 +0000 http://www.miamicondoinvestments.com/?p=624#comment-20289 Lets not get confused here for as you all know I have long advocated that $125.00 per square foot is the correct price to pay for a Condo. And while Condo Vulture states that paying $125.00 is too much he is indeed correct if he refers to Condos such as the ones that recently sold in Dadeland. My friends, $125.00 is the maximum you should pay for a "luxury" Condo with Ocean views such as the one above so well highlighted by Lucas. While many of you think that $250.00 per foot is a steal I firmly believe that they paid $100.00 per foot too much and next years prices which are projected to fall a further 40% in Miami will back this up. $125.00 per foot and not a penny more. Lets not get confused here for as you all know I have long advocated that $125.00 per square foot is the correct price to pay for a Condo. And while Condo Vulture states that paying $125.00 is too much he is indeed correct if he refers to Condos such as the ones that recently sold in Dadeland.

My friends, $125.00 is the maximum you should pay for a “luxury” Condo with Ocean views such as the one above so well highlighted by Lucas. While many of you think that $250.00 per foot is a steal I firmly believe that they paid $100.00 per foot too much and next years prices which are projected to fall a further 40% in Miami will back this up.

$125.00 per foot and not a penny more.

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