Two New Brickell Condo Developments to Launch Preconstruction Sales By Year’s
October 17, 2011 by Lucas Lechuga
Miami continues to buck the trend. While other U.S. cities are dealing with a depressed real estate market, Miami has growing concerns over a lack of inventory. Two new Brickell condo developments hope to help alleviate those concerns, however, with the launch of preconstruction sales by year's end. MyBrickell, to be located at 30 SE 6 St, will add 192 condo units while BrickellHouse, to be located at 1300 Brickell Bay Dr, will add an additional 374 condo units.
MyBrickell will be developed by The Related Group which has vast experience in developing condominiums, especially in South Florida. Their portfolio of past developments includes Icon Brickell, The Plaza on Brickell, 500 Brickell and 50 Biscayne. Arquitectonica, an internationally acclaimed architectural firm, has been selected to design MyBrickell with Karim Rashid to design the interiors. Studios will start from $164,900, 1 bedroom + den units from $219,900, 2 bedroom units from $249,900 and 2 bedroom + den units from $299,900.
BrickellHouse is to be developed by Newgard Development Group, a relatively new name in development. The Sieger Suarez team will be the architects behind BrickellHouse and Yabu Pushelberg has been selected to design the interiors. Pricing information for condos has not yet been released but I was told that the average price per square foot will approximate $375.
Reservations are now being accepted for condos at MyBrickell with an initial reservation deposit. The reservation, however, will not entitle you to a specific unit. The developer will offer a unit to the prospective buyer given their price range and unit preferences. The prospective purchaser will then have 24 hours to accept the unit offered and the balance of a 10% deposit will be due upon acceptance. Those who reject the offering or do not respond within the 24-hour time period will have their initial reservation deposit returned to them. BrickellHouse plans to accept reservations early next week and will actually allow you to choose a specific unit with a 10% initial deposit. Another 10% will then be due upon execution of the contract, 10% at groundbreaking, 20% when construction reaches your floor and a final 20% when construction is topped off - for a total of 70% due prior to closing.
Contact us at 305-428-3860 or [email protected] if you have an interest in reserving a unit at MyBrickell and/or BrickellHouse, Miami's two newest preconstruction condo developments.
Brochure for MyBrickell:
“for a total of 70% due prior to closing.”
This is what I was talking about in the other thread. This really takes a lot of the risk out of the equation for the developer.
I’ve also heard that there will be a Meat Market steakhouse in the retail portion of Brickell House. This area is really shaping up nicely.
Why does Mr. Rashid dress like Ali G?
“To big up me building yo!”
Pricing starting at $200,000 and they’re doing the same 70% down financing setup.
Too soon for new construction in Miami. Idiot developers never learn; they deserve their fate.
What do you think RENTER TOM????
hey brokers At mybrickell they are allowing unit specific price specific reservations with 10% down. They are moving inventory thru freinds and family. i just signed a studio for less than 180K. Great location next to Brickell Financial Center (4,000 people will work there , some will rent at mybrickell) and just across from Brickell CitiCenter. They have a huge event planned in conjunction with Brickell Financial Center on the 27th of September, with the presence of Karim Rashid. Brokers will get paid 75% of a 5% comission at groundbreaking. can’t go wrong with that pricing, size of project, location… Read more »
correction event is October 27th 7 to 9PM
Brokers will get paid 75% of a 5% comission at groundbreaking. can’t go wrong with that pricing, size of project, location and experienced developer.
This project will appeal perfectly to naive and wealthy Venezuelans who for some reason still think Jorge Perez is a genius.
Another rental community on Brickell with a condo board controlled by South Americans who live 1300 miles away. Big deal.
“Naive and wealthy”…Drew, that’s absolutely priceless. You keep easily topping all previously deemed unassailable limits of mental retardation.
Is this opposite of “shrewd and destitute”, which must describe folks like you?
Mr. “F-35” – Naivete and wealth are not mutually exclusive. See Navin Johnson in the 1979 classic film, The Jerk.
I don’t think this concept of buyer’s funding the project with up to 70% of the purchase price paid before construction finishes will work with a project this big — maybe 40 or 5 units tops like apogee in hallandale beach — but on a project this big, and like brickellhouse — it remains to be seen!
Still doubting on the real estate market in Brickell? Condos are renting AND selling.