Brickell on the River South Tower Closings Off to a Slow Start

January 25, 2008 by Lucas Lechuga

Brickell on the River South Tower condos

Closings in the South Tower of Brickell on the River are off to a very slow start. According to public record, there have been a total of 15 closed sales at Brickell on the River South Tower since closings began on December 21, 2007. The end of this week will mark the fifth week. However, as I’ve mentioned before, there can be delays in having closings recorded with the county.

According to the management office of Brickell on the River South Tower, there are a total of 334 units. This means that Brickell on the River South Tower has been able to close about 4 1/2 percent of their overall units within the first 5 weeks. Not a good sign!

To put this in better perspective, below you’ll see what percentage of units the following buildings were able to close within the first five weeks after closings began:

  • Latitude on the River – 47%
  • 2 Midtown – 15%
  • Onyx on the Bay – 26%
  • Ten Museum Park – 15%

What do you think about Brickell on the River South Tower’s 4 1/2 percent closing rate? Paraphrasing the words from the Coffee Talk with Linda Richman skit on Saturday Night Live, discuss amongst yourselves.

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15 Comments on "Brickell on the River South Tower Closings Off to a Slow Start"


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Anonymous
JasonN
8 years 8 months ago

It would be more alarming if the period you are examining didn’t include Christmas and New Years.

Anonymous
jcrimes
8 years 8 months ago

Don’t know if you can read much into it. I’ve seen some of the units in there; the corner demo units are nice but frankly, the way the stairwell is placed, it really cramps the living room space. Considering what the asking prices are for these corner units, I’m not sure that they’re worth it. Not to mention, can someone please tell the sales staff to stop including the open air area on the second floor in the sq. ft. presentation when they show units for sale? Totally misleading.

Anonymous
8 years 8 months ago

Good point but other developments have dealt with the same two holidays and have done much better. One Bal Harbour was able to close a lot of condos in the month of December.

Anonymous
8 years 8 months ago

Jcrimes,

It is funny that you mention the open air area. I had a client yesterday that purchased a couple of pieces from my store and at first looking at the floor plan it was confusing and very misleading. Incredible how far they would go to make their sq ft. bigger than what really is. He also mentioned that his association was about $.52 sq ft. Seems a bit high. Lucas, it would be nice if you include the association fees on the buildings as well.

M.

Anonymous
8 years 8 months ago

$.50-$.55 in most building seems to be average. You can’t have full time valet, concierge, maintenance, cleaning, etc without it. Now I’ve seen some buildings with $1.00+, that is rediculous.

Anonymous
Mike
8 years 8 months ago
I live on the 38th floor of the Brickell on the River North Tower…and I look directly at the new South Tower. My girlfriend and I often sit on the balcony and question how anyone in the right mind could live in such a small space? The stairwell leading to the upstairs loft takes up half the lower living area. There isn’t even room to put up a plasma TV (unless u want to hang it from your stairs??). The sq. footage is borderline “fraudulent.” Last time I checked, only superman (and a couple other super heroes) had the ability… Read more »
Anonymous
8 years 7 months ago

Including airspace is absurd. I bet they tried to create a trend. Foolish

Anonymous
Brian
8 years 7 months ago

I wonder if they have to pay association fees on that “open” air space? That $0.52 per sf wouldn’t look so great then.

Anonymous
Brian
8 years 7 months ago

Speaking of 10 Museum…I see that there are now 56 listings for sale. I predict by the end of the year, there will be close to 100 for sale in the building.

Anonymous
8 years 7 months ago

who is/are the lender(s) for this property?

Anonymous
DJ
8 years 7 months ago

What is the address for the south tower? the north tower is the 31 SE 5th st right?

Anonymous
Zuzia
8 years 7 months ago

Lucas,
Great blog! I really enjoy it. Quick question: what can I charge for 2bd/2 bath, 1140 sq ft in the Wind (350 S. Miami Avenue)?
Thank you,

Zuzia

Anonymous
FalseAdvertisement
8 years 7 months ago
NEO/Epoch builders of Wind really did it bad this time. If you are under contract in the Neo Wind building, be aware that the units that were advertised as 3 bedrooms 2 baths are actually 2/2 and the units that were advertised as 2 beds 2 baths are really 1/2. Check your documents, they are delivering the plans to the city as 1/2 and 2/2 . Not 2/2 or 3/2 Try selling your unit a few years from now when you purchased a 3/2 and you can only sell it as a 2/2 or you purchased a 2/2 and you… Read more »
Anonymous
Tyler Wyant
8 years 5 months ago

I was wondering what a good price to rent out the biggest unit in the south tower would be? Thanks for any suggestions.

Anonymous
Condo Swindlers
7 years 8 months ago

Just another one of those DEVELOPERS “DESIGNER READY ” TACTICS…

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