Imperial at Brickell Penthouse Reduced to $238 Per Square Foot

July 4, 2010 by Lucas Lechuga

Imperial at Brickell Miami penthouse

Earlier this week, the 5,034 square foot 5 bedroom penthouse at Imperial at Brickell that we featured this past May was reduced from $1,490,000 to $1,199,999, or $238 per square foot.  The unit has an amazing 4,000 square foot terrace with direct views of Biscayne Bay and Key Biscayne.  Take a look at the video below for a tour of the Imperial at Brickell penthouse.  Call us at 305-428-3860 or email us at info@miamicondoinvestments.com to schedule a showing.

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31 Comments on "Imperial at Brickell Penthouse Reduced to $238 Per Square Foot"


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Anonymous
Gixxer 1000
6 years 2 months ago
Anonymous
Renter Tom
6 years 2 months ago

I have come to believe that Gixxer 1000 is just another real estate shill hack.

Anonymous
Joe
6 years 2 months ago

I’ve always thought Gixxer 1000 was a shill, but Peter Zalewski and the Condo Vultures are even worse. Those guys have turned into the biggest pump-and-dumpers in Miami r.e. They’re totally shameless.

It’s hilarious how, just 1-2 months ago, even the bulls on this site admitted that Miami’s r.e. market was one of the worst markets in the country, but now, even in the face of “cataclysmic” (in the words of one analyst) r.e. numbers in the rest of the U.S. after the expiration of the tax credit, people are pretending that Miami is Boomtown, U.S.A.

Anonymous
Drew
6 years 2 months ago

Gixxer, thank you so much for posting an advertisement instead of an actual news piece.

Anonymous
owneratinfinity
6 years 2 months ago

Guys get real!

Gixxer 1000 is NOT a real estate shill hack. No real estate shill hack would spend so much time and ENGERY doing research and then posting his comments on his blog.

He’s a young guy who is into this RE stuff, so give him a break.

Anonymous
Renter Tom
6 years 2 months ago
One of my favorite TV shows…. “Real Estate Intervention”. Everyone in Florida…and even those who aren’t (ummm… Gixxer 1000) should watch it. It is hilarious. owneratinfinity – Either a real estate shill hack or a guy in prison with Internet privileges (j/k). Seriously though, for someone who is most probably NOT moving to Florida (last I remember….but I stopped reading his posts months ago) why oh why try to convince people the real estate market here has bottomed and is poised for some sort of dramatic rebound. We are in for prolonged real estate price stagnation in our area and… Read more »
Anonymous
why bother
6 years 2 months ago

I think the owner has a point. Most RE agents are dumb as a door knob. From his posts Gixxer looks like he can analyze data and statistics. He also knows geography. On both counts he is definitely not a RE agent. RE agent skills are limited to 2 things 1) How to open a lock box to get the key out (even that is hard for some! I am not kidding) 2) How to calculate 3% of a certain amount. They actually go to school to learn these rocket sciences! Gixxer is anything but that.

Anonymous
scrivener
6 years 2 months ago
“Gixxer, thank you so much for posting an advertisement instead of an actual news piece.” – – Drew I am almost embarrassed by the position you’ve put me in Drew, that being one of actually defending, while at the same time picking away at, Gixxer. Wow. This is a first. Look, those of you who went weak at the knees over these bulk-sales transactions need to read that article – – albeit cheesy – – more closely. Once you do a little research, it makes sense. The bulk buyer in question here is FFOC Investors LLC. A quick search on… Read more »
Anonymous
JL
6 years 2 months ago

Scriv, what was your post about? It’s like you’re providing an answer to a question that wasn’t asked.

Anonymous
Makes Me Think
6 years 2 months ago
Wow Scriv, I am actually impressed. I am starting to believe you may actually know a little something about real estate law as it pertains to asset protection. Some of your earlier statements left me wondering. anyway, you are right. It is very difficult to get to the assets of a multi-member LLc. The best that can be hoped for is a charging order against a member’s distribution share but even then the Members can decide to suspend distributions. If for some reason they are able to get to your assets liability is limited only to that LLc they can’t… Read more »
Anonymous
scrivener
6 years 2 months ago

JL:

Sorry about that.

I saw the “article” that Gixx posted a link to and got overly verbose about the LLC “shell game” going on in Miami real estate.

scriv

Anonymous
Drew
6 years 2 months ago
scriv- I don’t know if you’re a conspiracy theorist or just love to load your writings with innuenedo, but, as JL, noted, I really don’t know what your trying to uncover or suggest, other than what should be obvious to anyone: that being the business model of bulk buying entities. Its really not a great revelation that “these LLC’s are not “real” LLC’s in terms of those that produce products and services” as you state. Regarding the newly-organized single-purpose LLC, what do you expect? Would you be reassured if Lennar or Toll Brothers bought those units instead? And how is… Read more »
Anonymous
Gixxer 1000
6 years 2 months ago
I’m chose to study REAL ESTATE DEVELOPMENT at UM over other more prestigious programs. So I admit I’m a bit biased in the fact that I’m excited about the Miami real estate market or I wouldn’t have chosen to study here. But not any more biased than someone else who simply wants cheaper prices and hopes prices continue falling. Furthermore I would benefit from price going lower as that would only mean cheaper prices for me. Starting August 1st I’d gladly meet up with most people here who have at least half a brain and are actually interested in real… Read more »
Anonymous
gables
6 years 2 months ago

Gixxer, welcome to Miami! Did not know you had made the decision. you fall into the trap of many of us here-let prices drop until we decide to buy! did you decide on an area yet? again, i recommend coral gables, but there is value in Brickell. i would hesitate to go any further north unless you dont mind traffic and the commute. good luck!

Anonymous
Joe
6 years 2 months ago
Gixxer 1000 said: “But not any more biased than someone else who simply wants cheaper prices and hopes prices continue falling.” — For the 100th time, if you seriously think I post here in an effort to “talk down the market,” you’re out of your mind. —— Gixxer 1000 said: “My posting of the article was just to show that another bulk buyer is about to make a profit. … These guys bought at $429 and asking prices are currently $691. …” — For one thing, they’re ASKING prices, not sales prices. I’ll be a lot more impressed when they’ve… Read more »
Anonymous
Gixxer 1000
6 years 2 months ago

gables,

Thanks, I’m really excited. While I’m no stranger to traffic here in DC, after listening to many folks, even some here, I have decided to stay in either Coral Gables or Downtown/Brickell. Since were not sure exactly where my fiance will be working yet were leaning towards a 2/2 in Downtown/Brickell being that its centrally located and should pretty much be OK if she has to work in Kendall or Aventura. We’re going to stay with friends for a couple of weeks while we look at places and decide.

Anonymous
gables
6 years 2 months ago

gixxer, i would not recommend brickell key-friends just move out said it was too isolated. there are many other places in the area that present themselves in a more walkable manner. in coral gables, find a condo downtown by the miracle mile-very walkable all day and night-meaning very safe all the time with lots to do. you can ride the metro from downtown/brickell to UM, but it is not a very time efficient mode from what many people tell me-though not sure the drive is any better at rush hour.

Anonymous
owneratinfinity
6 years 2 months ago
why bother, you said: I think the owner has a point. Most RE agents are dumb as a door knob. From his posts Gixxer looks like he can analyze data and statistics. He also knows geography. On both counts he is definitely not a RE agent. RE agent skills are limited to 2 things 1) How to open a lock box to get the key out (even that is hard for some! I am not kidding) 2) How to calculate 3% of a certain amount. They actually go to school to learn these rocket sciences! Gixxer is anything but that.… Read more »
Anonymous
owneratinfinity
6 years 2 months ago

Gixxer 1000,

When you are in Miami, if you want email me at owneratinfinity@aol.com and I will show you guys around Miami. I REALLY know miami and miami beach well, I have ALOT of info on the buildings in Miami and Miami Beach.

Anonymous
Gixxer 1000
6 years 2 months ago
Joe, I think I understand that those were asking prices considering that’s what I wrote. And as I pointed out even if they sell at less than their asking price their still going to come out ahead. There is a lot of distance between $429 and $691. I think I also pointed out that the last bulk buyer bought units at $405 and sold them at $657, which would be SOLD not asking prices. As far as you developer conspiracy the logic makes no sense. Why would a developer fake bulk deals at BELOW market value if the goal was… Read more »
Anonymous
scrivener
6 years 2 months ago
“That is why I’ve said Investment RE should be held in a LLC and not in one’s personal name.” – – Makes Me Think ABSOLUTELY! “I don’t know if you’re a conspiracy theorist …” – – Drew Oh come on Man! (smile) This is not about “conspiracy.” It’s about the game! The game is what I am interested in – – that being the transfer of assets among parties during a period of economic down-turn and recovery. I like to think of it like a hockey game: “period 1” consisted of developers and buyers scrambling for assets (mortgages, flips, etc);… Read more »
Anonymous
scrivener
6 years 2 months ago

The concept of “pump and dump” is equally and arguably applicable here — maybe more so than “churning.” Again, these are just theories. Nothing more.

But, that’s a theory for another time.

scriv

Anonymous
scrivener
6 years 2 months ago
Drew: It’s “the game” that interests me my friend: the free flow of assets between parties during this economic period. The transactions; their timing; their structure. “The s**t’s chess, it ain’t checkers.” That’s what I find so enjoyable about this stuff. And that is what I was writing about. Nothing more. No innuendo. No “conspirac[ies].” Just raw facts and analysis. Who are the players? How are the deals being done? What are the possible/probable effects on market fundamentals and behavior? What is the economic substance of the transaction? Folks, we are experiencing an interesting moment in time here. Make the… Read more »
Anonymous
scrivener
6 years 2 months ago
Drew: [Sorry for the flurry of posts folks – – it’s Drew’s fault (smile)] “And how is a company’s choice of registered agent significant?” It is “significant” as it is relevant and pertinent to the possible economic substance of the transaction. Let’s compare and contrast two different recent transactions. This bulk sale involved an LLC who chose CSC, who is based in Tallahassee, as its registered agent. CSC is in the business of serving as a registered agent – – among other services. Thus, as choices go, CSC is a rather “generic” or “vanilla” choice as it has no potential/probable… Read more »
Anonymous
Drew
6 years 2 months ago

Post #19 sounds sexually suggestive.

Beware of Internet predators.

Anonymous
scrivener
6 years 2 months ago

Whoops.

Correction: CSC is not “based” in Tallahassee. Rather it has an office there. It’s US headquarters are in Wilmington, Delaware.

scriv

Anonymous
Drew
6 years 2 months ago
scriv While your argument is creative, I find it somewhat absurd. Even if you have “two different types of bulk buyers”, one’s decision to use CSC vs. another’s to be their own registered agent is irrelevant. In fact I’d argue that the guys who choose CSC displayed more diligence than the guy who chooses to be his own registered agent. Do you know how many business owners decide to be their own registered agent and then encounter service of process or other gov’t/administrative problems because they moved or shut down operations and now process or notices can’t be served upon… Read more »
Anonymous
scrivener
6 years 2 months ago
“In fact I’d argue that the guys who choose CSC displayed more diligence than the guy who chooses to be his own registered agent.” – – Drew Maybe yes. Maybe no. Depends on the facts and circumstances. “Most all registered agents have no ‘potential/probable substantive pecuniary interest in the substance of the transaction.'” – – Drew Maybe yes. Maybe no. Depends on the facts and circumstances. The involvement of related parties typically tends to cast doubt your assumption. Time will tell. “I would think you know what a registered agent’s role is, but based on your post, I am not… Read more »
Anonymous
Makes Me Think
6 years 2 months ago
Scriv, i have to agree with drew, you are reading way too much into the registered agent stuff. A registered agent charges $100/ year to forward mail that likely will never come. If you want to save yourself a few dollars just have the mail sent directly to your office as long as someone is there to sign for it. They could have easily used a trusted friend as the Registered Rep. It’s no big deal who receives it. I use my lawyer and a friend because I don’t want my name to show up on any public records. lawyer… Read more »
Anonymous
owneratinfinity
6 years 2 months ago
Lucas, I see that you didn’t post my comment replying back to Drew’s insulting comment to me. It’s very interesting that you would post his insult to me, but you would not post my insult back to him. As you know I have never used bad words ever on this blog. However in this case, the words I used in my reply back to Drew were the right ones. People like that need to be put in their place. I would suggest that in the future you should not post any comments that would be considered insults to other folks… Read more »
Anonymous
scrivener
6 years 2 months ago
Drew, Makes Me Think, et al: With all due deference, I think you missed my point. The issue I am focusing on is not that there is a registered agent, the role of the agent, or the defraying the costs – – but, honestly, I did appreciate your input and thoughts. Whether the agent is CSC, FBI, NSA, FUBAR – – who cares? What interests me here is the involvement of what appears to be a “related party.” Maybe I am reading the tea leaves too closely. Maybe I am talking about something that no one here understands – –… Read more »
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