Premium Views from Plaza on Brickell

May 5, 2008 by Lucas Lechuga

Plaza on Brickell

I had the opportunity last week to also show a few condo units at Plaza on Brickell offering their best views. The pictures that I took were shot from the 10 and 11 lines in the 851 Tower located at 950 Brickell Bay Drive from the 45th floor.

Plaza on Brickell

As you can see, the views at Plaza on Brickell differ from those that you’ll find in many of the new condo buildings in the Arts District or Park West in that the city views are much pronounced. It goes nicely with the gorgeous view of Biscayne Bay. The best of both worlds!

Plaza on Brickell condos

It was pretty amazing to overlook Brickell Key and see Miami Beach and the Atlantic Ocean in the distance. I don’t think I’ve ever captured Brickell Key quite like this. Unfortunately, I wasn’t able to fit Asia into the picture.

Plaza on Brickell condos

The condos that I showed are called “sky residences”. They are premium units with 10-foot ceilings, upgraded appliances and a Jacuzzi tub in the master bathroom.

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101 Comments on "Premium Views from Plaza on Brickell"


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Anonymous
JL
8 years 4 months ago

I know I’m in the minority on this, but if I were to grab a very high floor, I’d prefer a unit like this away from the water facing East to get a view of the water + stuff.

A view of water + more water and then some more water is not too exciting.

Anonymous
AJ
8 years 4 months ago

Looks like a beautiful flat and great views. How much is it? How many SF?

Anonymous
JGM
8 years 4 months ago

At least $350 + sq ft

Great view, great unit, great location

Anonymous
Doctor
8 years 4 months ago
Is it me, or do these kitchens already look stylized and dated. Its always the same granite countertops, stainless steel fridge and frosted glass. I mean, its nice and all, but there’s no originality. I’m getting the feeling we’re looking at our generation’s version of olive green and harvest gold… and there’s a lot of it. And JL, I hear ya, but having nothing but water is pretty boring at night when all you see is oceans of darkness. A city exposure, especially one like Miami with lots of lit buildings, makes for a better nighttime view… which is pretty… Read more »
Anonymous
JR56
8 years 4 months ago

yeah the upgraded unit is almost the exact replica of 500 brickell units… same appliances… but the view of brickell key, is the sh*t

Anonymous
Glenn
8 years 4 months ago

Gorgeous kitchen

Anonymous
8 years 4 months ago

Let not forget there are tons of condos in this development, and nearly all are condo flippers. Many of these chaps will have little to no holding power, and there will be lots of true bankrupcy’s in my opinion. Also, it has a view of the water, it’s not on the water, big difference. This is located in the foreclosure district.

Anonymous
Ed
8 years 4 months ago

This is yet another very nice Related group project.

I chose to go with a proven, financially secure quality developer (Related)…probably the strongest developer in town with the best reputation for building projects and should weather the downturn without going bankrupt…….I’m confident this well-located (along with 500 Brickell) project will hold its value whereas shoddy construction at places like Sail, Vue, NeoVertika, Wind and Midtown shouldn’t hold up as well…

Anonymous
Miami2008
8 years 4 months ago

Are these condops really selling at 350/sqft? Will this hold for the next several months?

Anonymous
JGM
8 years 4 months ago

Miami 2008…

Try to go buy one for less than 350 sq ft with the same floor level, views, etc, and let me know….

Anonymous
Miami2008
8 years 4 months ago

Well, I definatley want to purchase a unit by years end or early next year. I prefer Emerald at Brickell, but it is out of my budget. That is why I was asking if prices will hold…

Anonymous
jcrimes
8 years 4 months ago

prices won’t “hold” in any of these brickell buildings. 350 sq/ft in plaza is no longer a reality if you want to sell your place today.

Anonymous
POB
8 years 4 months ago

yeah let’s hope that there’s no water leakage in this building like there was in Related’s 50 biscayne project only a couple of weeks ago. What does a condo on the 45th floor with these views go for??

Anonymous
POB
8 years 4 months ago

BTW jcrimes, my friend has a similar unit posted here at 851 plaza. He’s gotten 2 offers in the past 2 weeks right around 400 sq ft.

Anonymous
8 years 4 months ago

I’ve seen 2 bedrooms 1400 SqFt Condos go for aboiut $340,000 at the Plaza so that is about $240 a foot in mid to high floors, what floor do these sky residences start?

Anonymous
Raffi
8 years 4 months ago

Prices at the plaza are gonna drop like a brick, you have 1000 units. can you just imagine the chaos of people once its occupied? BUT for the units on high floors with views like that…I think they will be ok, that is a sick view.

Anonymous
JGM
8 years 4 months ago

Per the communication above, they start at the 45th floor.

Alejandro Diaz, can you send me the link where you saw $340k, that would be a steal if what you say is true.

Anonymous
Un-Related
8 years 4 months ago

Ed said: “This is yet another very nice Related group project.

I chose to go with a proven, financially secure quality developer (Related)…probably the strongest developer in town with the best reputation for building projects and should weather the downturn without going bankrupt…….I’m confident this well-located (along with 500 Brickell) project will hold its value….”

PUT DOWN THE KOOL-AID!

Anonymous
Un-Related
8 years 4 months ago
Ed said: “This is yet another very nice Related group project. I chose to go with a proven, financially secure quality developer (Related)…probably the strongest developer in town with the best reputation for building projects and should weather the downturn without going bankrupt…….I’m confident this well-located (along with 500 Brickell) project will hold its value….” PUT DOWN THE KOOL-AID! Unfortunately, I know of at least ten buyers at the “let’s build another excess building!” known as 500 Brickell who are in the process of drafting “Sorry, but we are “walking” letters. Miake me sick to say a couple of them… Read more »
Anonymous
movin' metro
8 years 4 months ago
I’m a resident at Plaza (renting, thankfully so.) The kitchen isn’t really laid out well for cooking. (sink needs a hose or something with directional spray.) also, the garage is very narrow and hard to get in to. have to take an alley and make a sharp turn. don’t know why the couldn’t just empty out onto brickell bay drive. okay when place is 15% occupied, will be a nightmare if the place ever fills up. also, at current occupancy I fear to think what will happen to services when the HOA takes over from developer. apart from this, location… Read more »
Anonymous
Ed
8 years 4 months ago
Un-related, No reality check needed. As an end-user, let me repeat, END USER, who got a resale at 500 Brickell for and am looking to stay in the building mid to long term. I’ll say it again, I am confident that this building, along with Plaza at Brickell, will hold its value. Sure prices have dropped, but I’m not concerned. I didn’t get greedy and buy multiple units as an investment as you did, but I bought there to live and enjoy my home and watch the benefits of long-term appreciation. “Put down the Kool-Aid”, you say? You might want… Read more »
Anonymous
JGM
8 years 4 months ago

ED, have to agree with you!!

That whole area with Brickell on the River, 500 Brickell, Icon, as well as the new office development will be a very nice area to live in once everything is completed.

You also have Brickell Tennis next door…

Anonymous
Ed
8 years 4 months ago

and you have the new Epicure, Whole Foods, LA fitness, movie theatres, new office developments (3 under construction now), Balans Mary Brickell Village, Sushi Siam, on and on and on…all within walking distance….I’m actually looking to buy another property there (500 Brickell or Plaza)

Anonymous
JGM
8 years 4 months ago

Ed, dont forget Capital Grill next door, Big Fish, Tobacco Road, Endochine, Blue Oyster, etc, etc, the list goes on and on, hard to find another spot with so many restaurants within walking distance……

Metrover Mover next door, to jump to Heat Games without worrying about parking….

Anonymous
Un-Related
8 years 4 months ago
Ed or ANYBODY ELSE, If you are for real with the I’m actually looking to buy another property there (500 Brickell or Plaza), I will make you an offer. You can buy from me the “purchasing entities” for a discount of $40,000 per unit. That way, you can save $40,000 off of the original 2005 cost of the units and there will be NO RE commissions involved. You probably will also be able to save the .75% transfer fee as the entities are the original buyers. I have the condo “books” and the closing info. If anyone is interested, post… Read more »
Anonymous
JGM
8 years 4 months ago

Un-related,

what is the average sq ft price when you mention 2005 costs…

Anonymous
Ed
8 years 4 months ago

Un-related,

Takin my time, no rush at all to buy…waiting to see prices go even lower….but interested in a 2/2 in either Plaza or 500. brickell_guy@yahoo.com

Anonymous
Un-Related
8 years 4 months ago

JGM,

One faces East (on Brickell) and is middle unit on higher floor. (1051 ft.) Paid right at $350 sq.ft. My “offer” would make it $314. sq.ft.

The other one faces South in East Tower on higher floor. (925 sq.ft.) Paid $342 sq.ft. My “offer” would make it $300 sq.ft.

Hope that helps.

Anonymous
Un-Related
8 years 4 months ago

Ed,

Sorry, but these are both 1 bed.

Anonymous
renting at plaza on brickell
8 years 4 months ago

movin’ metro : I am also a resident at Plaza on Brickell. Tip: Sink does have a hose. If you pull down on the faucet, it has a pull out hose. Very convenient.

Anonymous
Mo
8 years 4 months ago

People can’t be this dumb! The people “interested in buying” are all RE Agents. Ed, how will your price hold up when people have to factor in a 20% down and 10% interest rates to make their monthly payment? By medium to long term you better mean 10-15 years. Hey, I could have bought Apple stock at $12/share in 1989 or I could have bought it for that price in 2003. I think waiting is better.

Anonymous
movin' metro
8 years 4 months ago

to renting at plaza on brickell: thanks, neighbor! can’t wait to get home and try that out. now my only gripe about the place is the garage. or am I missing something there, too?

Anonymous
JL
8 years 4 months ago

Is the Skyline at Mary Brickell and Capital at Brickell Condos still in progress? What other new condos are in this area or upcoming?

Anonymous
8 years 4 months ago
Some of the posts here are HE-LARIOUS. Reading all the fussy gay realtors (I am saying that lovingly but truthfully) try to pump these units on here between hair appointments and brunch is classic. As others have pointed out in the thread these units are all owned by flippers. (See MiamiCondoFiasco.com for Zach’s story with Plaza on Brickell) These are very nice, beautiful units but when all is said and done in 2010-2012 these units will fall to under 200 per square foot and anyone who catches a falling knife know will be like the guy who bought pets.com when… Read more »
Anonymous
JL
8 years 4 months ago

The url for the above is condofiasco.com, OK, so I went to the site… can somebody give me the Cliff’s notes on the guy’s situation?

Anonymous
bubbleRefuge
8 years 4 months ago
This was an op ed in todays journal fairly. Well reasoned arguments The Housing Crisis Is Over By CYRIL MOULLE-BERTEAUX May 6, 2008; Page A23 The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now. How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won’t happen for another 15… Read more »
Anonymous
jcrimes
8 years 4 months ago

POB
doesn’t really mater what offers are coming in. in the coming years, brickell in general, won’t be a 350 sq ft neighborhood. yeah, there will be limited exceptions, on a unit by unit basis, but simple fact is, the inventory levels, coupled with the current “demand” at the current prices, supports an argument for a massive decrease.

FIU is a little more articulate…

http://media.miamiherald.com/smedia/2008/05/06/16/MiamiDadeHousingSTUDY_Draft6-05_02_08.source.prod_affiliate.56.pdf

Anonymous
jcrimes
8 years 4 months ago

i think it would be carelss to apply Mr. B’s arguments to the mimai market…a total outlier in the boom. think about it, what rational explanation is there for all the building that went on when historical demand never justified it? really, don’t give me the whole miami is suddenly a cool place to be. that’s bs. miami’s been a hip place to be for decades (hell, will smith welcome to miami tune is a decade old).

Anonymous
JL
8 years 4 months ago

Miami/South FL and Las Vegas should never be lumped in with the broader market. We could go into a black hole and the world would never notice.

Anonymous
Mark
8 years 4 months ago

Would those of you who are renting at Plaza mind saying what you are currently paying? Thanks.

Anonymous
JL
8 years 4 months ago

Great question Mark… Anybody pick up a lease recently in this area (rents have been going down across the board at a steady clip from last year). Don’t tell the phantom Brickell bulk buying smart money vulture funds that… or else they’re going to have to break out the calculator again and find more bagholders… I mean investors to make up the difference.

Anonymous
JL
8 years 4 months ago

Craigslist

miami.craigslist.org/search/apa?query=plaza+brickell&minAsk=min&maxAsk=max&bedrooms=

miami.craigslist.org/search/apa?query=brickell&minAsk=1500&maxAsk=3000&bedrooms=

Anonymous
RG
8 years 4 months ago
There are a couple of differences between pervious busts and this one. First off all though the % decline may be similar to pervious busts and now home prices are finally in line with the proper historical % of income, however a major difference is the 0 down or low down payment loans that have occurred that was never before seen. People that bought in and around the peek with a low down payment are more likely to short sale and foreclose then people that bought in the peek in pervious busts that had 20% or more down. Add the… Read more »
Anonymous
BFG
8 years 4 months ago

That Cyril Moulle-Berteaux guy who wrote the “Housing Crisis is Over” article is just another housing cheerleader douche. How many of these idiots have we heard from over the past couple of years? Surprised these guys get any attention anymore. Lots of flaws in his arguments:

http://calculatedrisk.blogspot.com/2008/05/is-housing-crisis-over.html

Anonymous
8 years 4 months ago

I took a tour of 900 Biscayne Bay today. Fantastic amenities! I’ll post the pictures that I took later this week.

Anonymous
JL
8 years 4 months ago
The problem with comparing the Miami and Las Vegas condo market with a National Housing Average (and is being highlighted by the foreclosure rates) is that nationally, you are talking about primary single family residences while in Miami and Las Vegas, you are talking about 2nd home condos in large part. The dynamics at play are very different between the 2. People will fight and pay up to stay in their primary home, while they will readily walk away from an investment gone bad. Since the 80’s, there’s never been a stretch of time where an investment in Miami was… Read more »
Anonymous
Hecky
8 years 4 months ago

Crude oil jumped over the $122 mark — before settling at a record $121.84 a barrel. Traders say the next benchmark is $150 and Goldman Sachs — oh yes they did — went there, saying oil could reach $200 a barrel

My friends… We’re Doomed

Anonymous
JL
8 years 4 months ago

Are they still trying to price Marquis above 900? Seems it should be the other way.

Anonymous
bubbleRefuge
8 years 4 months ago

jcrimes, nice white paper. Makes you kind of wonder what is going to happen here in miami-dade
when gas hits 7 dollars per gallon with our 26K median annual salary. Ironically, I think that
7 dollar a gallon(200 dollars per barrel oil) helps the brickell condo market more than it hurts because more people will want to live closer to work.

Anonymous
Hecky
8 years 4 months ago
The MIAMI housing market isn’t bottoming right now. Here is a 6 months old article by Tom Dyson. IMHO the article reflects the current state of Miami’s RE market. Sandpapering the Vultures to Death By Tom Dyson October 22, 2007 The vultures are circling Miami… Matthew Martinez is the point man for a large private-equity fund from Connecticut. His mission: Fly to Miami with $200 million and buy cheap condos. “We’re looking at purchases of $7 million and up, all-cash,” he says. Jack McCabe is the person you always see quoted in newspaper articles about the Miami condo meltdown. He… Read more »
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