Last week, a 7,400 square foot penthouse at Villa Regina traded hands for $1,925,000, or $260 per square foot. The 6 bedroom, 6.5 bath condo also included 1,600 square feet of balcony and a remarkable six assigned parking spaces! The residence has 10-foot high ceilings and offers spectacular views of Biscayne Bay, Key Biscayne and Brickell. There is no doubt that this penthouse was sold at an amazing price but – before anyone gets all worked up about how they missed out on the deal of the century – let it be known that this property needed a lot of work. I had the opportunity to tour the penthouse about a month ago. Conservatively, I felt that it would require at least $100 per square foot to turn it into a penthouse-quality residence by today’s standards. Regardless, even after forking over close to three-quarters of a million dollars (or more) in renovations alone, it would be well worth it. A condo this large, and at this price point, just doesn’t exist in Brickell.
Have an interest in buying, selling or renting a Miami condo or home? Contact me, Lucas Lechuga, of Miami Condo Investments. When hiring me as your agent, you can be assured that you will be working with a Realtor ® who is:
Reliable - I always stay true to my word. If I tell you that I will do something, you can be certain that I will deliver and/or execute as promised.
Knowledgeable - I consider myself an expert in my field and one of the most knowledgeable Realtors ® in my local industry. There is a reason why local and national media often call upon me when reporting on the Miami real estate market. My job is to educate you every step of the way so please be sure to ask me any and all questions that come to mind. The only stupid question is the one left unasked.
Accessible - Each client will have access to my direct line and email. If temporarily unavailable, you can be assured that I will respond in a prompt and timely manner.
Please feel free to call me at 786-247-6332 or contact me via email at email@example.com.
Copyright © 2007-2013 Miami Condo Investments
- CNBC’s Coverage of the Red Hot Miami Condo Market
- SLS Brickell Residences Now Accepting Reservations