Azure Amenities Video

May 22, 2010 by Lucas Lechuga

Earlier this week, we discussed a 3 bedroom/3.5 bath condo listing we recently obtained at the luxury, beachfront condo development called Azure located in Surfside, Florida.  Below, you’ll find a video tour of the amenities and common areas at Azure for those of you not familiar with the building.

Here’s the video of the 3 bedroom/3.5 bath condo at Azure priced at $1,499,000. We priced it for a quick sale. The previous list price was $1,755,000. The next best priced 07 line in the building is the unit one floor above which is listed for $2,400,000.

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18 Comments on "Azure Amenities Video"


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Anonymous
BillP
6 years 4 months ago

Thank you for the shorter video- it does not compromise your efforts to show the features of the buildings, and it is easier to watch.

Well done.

Anonymous
Gixxer 1000
6 years 4 months ago
Joe, “I think the problem you keep running into is the fact that most people — maybe not hardcore r.e. types, but most buyers — consider a market’s “bottom” to be the point in time at which a piece of r.e. could be purchased at the lowest possible price.” I agree that the market “bottom” is the point when you can get a piece of real estate at the lowest price. And the sales data shows that the point when you could get a condo downtown for the lowest price in most developments was 2nd quarter 2009. Here is a… Read more »
Anonymous
Makes Me Think
6 years 4 months ago

“If you sell 3 pair for $25, 2 for $50, 1 for $75 and 1 for $100 then the median value of jeans sold would be $25 because that is the middle value of all the jeans sold.”

Come again?

25, 25, 25, 50, 50, 75, 100

50 = median not 25!

in your second example ” $30, $30, $30, ($30), $60, $80, $110″

30 is not the median 45 is the median!

It been a Long while since I did high school math, maybe someone can correct me if I’m wrong

Anonymous
Makes Me Think
6 years 4 months ago

” $30, $30, $30, ($30), $60, $80, $110″

actually, I take that back because I don’t understand what you are saying above. Is that “(30)” part of the list of numbers or is it both in the list and denotes the median?
if there are 7 numbers in the list then 30 is the median but if there are only 6 then the median would be 45 not 30.

if list is
” $30, $30, $30, $30, $60, $80, $110″
then median = 30
else if list is ” $30, $30, $30, $60, $80, $110″
median =45

Anonymous
gables
6 years 4 months ago
gixxer your points have validity but there are also counter items. is the distribution of 1, 2 and 3 bedroom units the same in 2009 and 2010? not only does that skew your median, but also the $sq ft. Three bedroom units were not moving much in 2009, and they have picked up more in 2010. they will tend to have a higher $ sq ft than much less desirable 1 and even 2 bedroom units in many buildings-particularly in the time period of low ball cash only transactions. yet i still see1 and 2 bedroom units selling at some… Read more »
Anonymous
Joe
6 years 4 months ago
Gixxer 1000 said: “The main person who I seem to argue with the most is Joe who doesn’t live here while I’m currently in the process of moving here now. I’m sure I have been to Miami more times in the last few months than him. I don’t see how arguing with Joe who is arguing that prices are plummeting deters someone who doesn’t live here. …” – See, this is why we argue: Because while you claim to love “facts,” you use a lot of FICTION in your comments. For one thing, I lived in Miami FOR YEARS before… Read more »
Anonymous
drew299
6 years 4 months ago

will buyers still be there when the dow is back around 7,500-8,400

the euro is history, and if a miami condo is worth 500, ooo $$ and a few years

later- a dollar is worth 50 cents = is the cond0 worth 500,000 or 250,000
???

just curious

Anonymous
JL
6 years 4 months ago

Regarding the euro,

If you think it may get to parity with the dollar (from 2002-2010 the Euro has ranged from 85c-$1.60 to the US Dollar with it being around $1.30-$1.45 in 2009), that means a Euro-zone investor/owner will in effect be paying approx 30% more for monthly Mortgage/HOA/Property taxes versus 2009.

Something to chew on.

Anonymous
scrivener
6 years 4 months ago
Gixxer: Finally! While I generally scan the statistics you post, relying on the theory that numbers that are purely repeated are of little value – – we now have an additional reason to ignore the statistics you post: you don’t understand them. In the alternative – – and I want to be fair – – based on your analogies, your statistical analysis is wrong. You can’t argue make the argument that a “bottom” has developed in the real estate market predicated on an analogous range definition that only focuses on the MEDIAN value (your first “jean” example, “$25, $25, $25,… Read more »
Anonymous
Gixxer 1000
6 years 4 months ago
gables, “is the distribution of 1, 2 and 3 bedroom units the same in 2009 and 2010?” The short answer is yes. If you go to condoreports.com and look at the current sales for this quarter you get 156 1-bedrooms, 182 2-bedrooms and 43 3-bedrooms. So 3-bedrooms make up about 11% of sales which is not statistically different than the percentage of 3 bedrooms sold in 2009. Also your theory that 3 bedrooms sell for more per square foot than 2 bedrooms isn’t necessarily true. 2 bedrooms are the most desirable and usually get the most per square footage which… Read more »
Anonymous
Gixxer 1000
6 years 4 months ago
Joe, I agree that the use of the word “plummeting” was an exaggeration. Although you have said that prices have not bottomed. So if prices have not reached their lowest point then I would think I’m correct in assuming that you think prices are going lower. But it seems that now you seem to be saying maybe the market has bottomed except for the high end market? “bullish price INCREASES are highly unlikely over the next few years (contrary to your claims/projections that r.e. appreciation has already returned, or will soon return, to at least the historical 3-4% per year… Read more »
Anonymous
gables
6 years 4 months ago
Gixxer, “The short answer is yes. If you go to condoreports.com and look at the current sales for this quarter you get 156 1-bedrooms, 182 2-bedrooms and 43 3-bedrooms. So 3-bedrooms make up about 11% of sales which is not statistically different than the percentage of 3 bedrooms sold in 2009. Also your theory that 3 bedrooms sell for more per square foot than 2 bedrooms isn’t necessarily true. 2 bedrooms are the most desirable and usually get the most per square footage which is why when developers build projects the makemore of the units 2 bedrooms.” First, where do… Read more »
Anonymous
Gixxer 1000
6 years 4 months ago
gables, “First, where do you get the numbers that the distribution of units is the same for 2009 as 2010? Did not see those in condoreports-please let me know where this aggregate historical data is-very interested.” Go to the building list and then click on each individual building. Then you can go to “Recent Sales Activity” where you can look at sales for the current quarter and sales for the previous 4 quarters. Simply compare the previous 4 quarters to this quarter. Example. 50 Biscayne Current quarter 3 bedroom sales: 3 Past 4 quarter 3 bedroom sales: 13 If you… Read more »
Anonymous
gables
6 years 4 months ago
Gixxer, in north Brickell 12 3B+ units were sold (2.5% of total inventory), 10 of which sold for higher than $440 sq ft. The 2B sold 94 units 0f 3239 total (2.9%) for an average $369. There exists a distinct difference in psf between the types of units. Many 3B+ are luxury units-that is why they dont exit in many average buildings. Based on number of total units and average price, market cap of 2B is $42.6 million and 3B is $10 million. Three bedroom units have a distinct influence on prices in the area. “A case-schiller for brickell would… Read more »
Anonymous
gables
6 years 4 months ago
“But again zip code 33131 which covers Brickell AND the main buildings downtown, like Met 1, Epic, 50 Biscayne, Wind, Ivy, Mint, basically everything up to NE 1st st posted a 13.6% year over year increase.” As has been pointed out, many recent luxury buildings have opened recently. Since they are superior to existing buildings, they sell for more and move the average price up. That does not mean values are increasing. It just means the luxury buildings are dominating the statistics. Individual units in Brickell and Downtown certainly did not rise 13% year over year. You are not reporting… Read more »
Anonymous
Gixxer 1000
6 years 4 months ago
gables, “Many 3B+ are luxury units-that is why they dont exit in many average buildings.” That’s exactly what I’m saying. There is a difference between a 3B and a 3B+ luxury unit. “Based on number of total units and average price, market cap of 2B is $42.6 million and 3B is $10 million. Three bedroom units have a distinct influence on prices in the area.” I agree with this as well. But to see how the higher priced 3 bedrooms units were trending the market up you would need to look at the 3 bedrooms that are selling at a… Read more »
Anonymous
andi
6 years 4 months ago

folks:

the second and most vicious phase of credit crunch is upon us..US treasury @3% is downright signalling deflation-depression and this in the face of rampant toxic mortgage bonds that infest fed’s balance sheet..

20 yrs of credit orgy is over. This is not limited to Miami or sofla..The blood that will flow on the street will smell & stench…

You have seen nothing yet.

Mark my work…True hardship is ahead not behind…

Anonymous
gables
6 years 4 months ago

gixxer, as you stated (rather long winded), Icon is skewing the Brickell numbers at all levels (1B, 2B and 3B). Statistically prices will rise in the area. But look at the individual sales of most buildings in Brickell-they are flat over the past year (which in real dollar terms is a decline with inflation-although rather tame). remember many of the people buying in Icon because they have enourmous money tied up in deposits. Developers dropped prices to get them to buy.

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