Video & Picture Review of Platinum Condominium

May 31, 2007 by Lucas Lechuga

Platinum Condominium

I took a look at Platinum Condominium today and, overall, I was pretty impressed. Platinum Condominium is located at 480 NE 30 Street in the Design District of Miami. It is not a waterfront property but is situated just one block off Biscayne Bay, so the majority of units have a nice view of the water. Towards the end of this post I will provide my analysis on the building and discuss the availability for both sales and rentals at Platinum Condominium. I will also use the comments section to post any future listings that I feel are priced to move.

I shot a lot of video today and took a ton of pictures. The videos and pictures below will show you the exterior of Platinum Condominium as well as the lobby, swimming pool, hot tub, men’s locker room, and a few condo units. Be patient because the slideshows may take a little while to load, depending on your connection speed. I was able to shoot video and take pictures of a 2 bedroom unit located on the 7th floor. I also gained access to a 1 bedroom unit on the 10th floor but was only able to snap off a few pictures. The amenities and common areas looked about 95 percent complete which is very impressive. I would love to hear your thoughts on the building so please feel free to leave comments.

I found the exterior of the building to be quite beautiful with its curved balconies and high use of glass. The video and picture slideshow below will show you the exterior of Platinum Condominium.

I was very impressed with the lobby. It seems that white and silver are the prominent color themes throughout Platinum Condominium. It made for a very bright and clean looking lobby as you will see below.

The amenities are located on the sixth floor of the building. I found my way into the men’s locker room which had a sauna, steam room, and massage room.

The doors providing access to the club room, business center and fitness center were locked but I did take a peek through the windows. All three were done nicely. The fitness center was a bit small but that is common with most condominium buildings, especially in this price range. I then made my way outside to the swimming pool and sundeck area of Platinum Condominium. Take a look for yourself.

The pictures and video below are of a 2 bedroom plus den with 2 full bathrooms. It has 1,383 square feet of living space and a 386 square foot balcony. As you will see, the unit comes “decorator-ready” which means that the condo comes without flooring, baseboards, light fixtures or painted walls. The unit faces east and has magnificent views of Biscayne Bay. This particular unit is listed at a little under $360 per square foot.

Here are the pictures that I took of the 1 bedroom. This particular unit has 826 square feet of living space. There are also two triangular shaped balconies, one off the living room and one off the bedroom. This unit is only available for rent and is listed at $1,700 per month.

Analysis

Keep in mind that this analysis is based on comparing Platinum Condominium to similar buildings that have units with prices in the same ballpark. I am comparing apples to apples. This is my own subjective review and should be accepted as such.

Overall, I think Platinum Condominium is a great building. I like the fact that it only has a total of 119 condo units in the building. It isn’t a monster building with 400-plus units like we’ll be seeing in the coming months from developments such as Latitude on the River and The 1800 Club. Platinum Condominium has a total of 22 floors with 7 units per floor (the first 5 floors are used for parking). Almost every unit in the building will have some sort of bay view because of the way the building is angled and the fact that there aren’t any tall buildings in that area.

I’ve seen buildings with a lot better amenities and common areas but for a building of this size I think they did a great job.

In my opinion, the condo units were tastefully done. The kitchens are really nice with their granite countertops, stainless steel appliances and custom wood Italian cabinetry. There is plenty of cabinet space and I liked the fact that there is an island with additional cabinet space below.

The bedrooms and living rooms weren’t huge but they weren’t small either. The walk-in closets were rather large though. I liked the floor-to-ceiling windows which extended 9 feet high and spanned the length of the condo unit.

The bathrooms were okay. I didn’t care too much for the marble floors that they went with but that’s just my taste. I also felt that they were a bit small as they lacked sufficient storage space to keep towerls and toiletries.

The only downside to Platinium Condominium is the neigbhorhood. It isn’t a bad neighborhood, but there isn’t a whole lot to do within walking distance but that is slowly changing. A Starbucks is opening at the corner of Biscayne Boulevard and NE 30 Street by the end of the year and the Shoppes at Midtown should also be completed by the end of the year as well. As of now, about half of the stores at Shoppes at Midtown have already opened. These include: Super Target, Loehman’s, Marshalls, West Elm, Circuit City and several others. In my opinion, the area is still about 3-5 years away from being one of the premier neighborhoods in Miami. There are a lot of future development plans for Biscayne Boulevard which will eventually make it a happening neighborhood. Platinum Condominium is only 15 blocks from the Entertainment District of Miami and the new Carnival Center for the Performing Arts, a 5 minute drive to South Beach, and 12 minutes from Miami International Airport by car.

Grade:

  • Lobby: 8.5/10
  • Amenities: 8.5/10
  • Kitchen: 9.0/10
  • Bathrooms: 7.5/10
  • Space/Size: 8.5
  • Neighborhood: 6

Pricing:

For the most part, the units listed for sale are still priced a bit high, in my opinioin, but there are a few exceptional deals. There’s a 2 bedroom on the 16th floor with 1,007 square feet that was just listed yesterday for $349,900. That comes out to about $348 per square foot. For this type of building, that is already a solid deal, but if you can negotiate that down to around $330 per square foot then I think you can’t go wrong. The one bedrooms in the building right now start at $340,000. That is for a condo unit that is 819 square feet. That shows just how well the 2 bedroom for $349,000 is priced. I think condo prices at Platinum Condominium will settle into the $340-$420 per square foot range.

The one bedroom rentals at Platinum Condominium are pretty well priced but I feel that the 2 bedrooms need to come down quite a bit. The one bedrooms range from $1,500-$2,200 per month. I think those will settle into the $1,300-$1,800 price range. The two bedrooms range from $2,500-$3,200. I think those will end up going for $1,800-$2,400 per month. The building is nice but it isn’t located in Brickell, so anything higher isn’t justifiable.

If you would like to receive current listings in the building, please feel free to contact me and I will be more than happy to email them to you.

Leave a Reply

13 Comments on "Video & Picture Review of Platinum Condominium"


Sort by:   newest | oldest | most voted
Anonymous
perez
9 years 1 month ago

I have to agree with you this is a great looking building, and the area is definitely improving. I thought you would be interested in a Sept. 20 auction regarding the remaining 20 units.

Anonymous
9 years 1 month ago

Perez,

Thank you for the information. I guess the bleeding has begun. I will post this information on my blog tonight. I think others will be interested.

Anonymous

[…] a pictorial and video review of the building. You can view it by clicking on the following link: pictorial and video review of Platinum Condominium. Any information that you seek regarding this development will be found there. If for some chance, […]

Anonymous
JOSE LAYA
9 years 1 month ago
Great looking building, but I would give the neighborhood at least 5 years. In order for it to really improve the demographics must change. Problem is, that what is happening with The Platinum building will continue to happen in this area and continue down the Biscayne corridor, making its way up through Brickell. As this continues to happen the new buildings will remain vacant for sometime. How long… thats the $million-dollar question??? To add to the problems with this area we have development sites being sold without ever getting off the ground, Mid-Town Miami not being all that it was… Read more »
Anonymous
edgar
9 years 1 month ago

where, when and at what time will be the auction?

Anonymous
Tim Joyce
9 years 1 month ago

Hello! Please let me know what would be the price range on the maintenance for the three bedroom, two and one bedroom units. Is there parking spaces assigned per unit or only valet parking? What do I need to do if I want to participate at the auction?
Thanks!

Anonymous
9 years 1 month ago

Unless it was changed the maintenance fee should be approximately 43 cents per square foot. If you take a look at Platinumcondo.com it will show you the floor plans of each unit.

I need to verify that the parking situation has not changed for the condos going up for auction. There should be one assigned parking space per unit except the three bedrooms. The threes should have two parking space but I want to verify this on Monday.

Anonymous
CJ
9 years 1 month ago
I am interested! Can you kindly email me a list of the 20 units available, their respective listed prices and square footages. I also believe that if the developer wants to sell/move these remaining units, they must be offered at prices more favorable than pre-construction and/or any recorded purchase price on the County’s site. Those prices were inflated and we, as potential buyers, can not forget that approx. 55,000 units will be coming online within the next year to year and a half. There will be plenty of good, if not great deals to be had. The buyers market has… Read more »
Anonymous
9 years 1 month ago

CJ,

The list of units are here: http://blog.miamicondoinvestments.com/2007/08/01/miami-condo-auction-platinum-condominium-20-units-up-for-auction-in-september/#comment-546. You can reference the developer’s website at http://www.platinumcondo.com to see the square footage of each unit.

55,000! It seems like the number keeps jumping every week. Are you counting all of South Florida or just Miami? Miami is not even close to 55,000.

Anonymous
George Sanchez
9 years 11 days ago

Could you please e-mail me the original pre-construction list of sales prices of all units in the building when it first went on sale over 2 years ago. Thanks!

Anonymous

[…] on the following link if you’d like to view a bunch of pictures and video footage of Platinum Condominium that I shot on May 31, […]

Anonymous
Maria Gueits
8 years 11 months ago
Now that the auction is past us, please let me know how you think that will affect the market? All units in the Platinum sold much higher as you know, yet they were reasonable in comparison to some of the other buildings. I currently have unit 1507 listed. This is one of the 2/2 +den. 1383 SF. The den was opened up to increase the living area which is great. The unit has been upgraded, with beautiful flooring, designer paint throughout, baseboards, window blinds, furnishings, etc. In addition, the service elevator and parking for this unit are located right next… Read more »
Anonymous
kim
8 years 9 months ago

Lucas,
I drove by the Starbucks on NE 30th last nite… It appears construction has stopped, and the “Brewing Soon” banner has been removed. Did Starbucks pull out?

wpDiscuz

For Real Estate
Related Needs And Inquiries

please complete the form below

  • This field is for validation purposes and should be left unchanged.