Marina Blue 2 Bedroom on the 54th Floor – Video

April 13, 2010 by Lucas Lechuga

For those of you looking for a spacious 2 bedroom with a breathtaking view, look no further.  We have a very well priced listing at Marina Blue located on the 54th floor with views of Biscayne Bay, the Atlantic Ocean, Downtown Miami, Key Biscayne and the Miami Beach skyline.  It’s a 2 bedroom/2.5 bath condo with 1,663 square feet of interior and 10-foot ceilings with floor-to-ceiling, hurricane-resistant windows.  This is a “decorator-ready” unit.  The list price is $540,000 or $325 per square foot.  Within the past six months, eight 2 bedroom condos at Marina Blue have closed.  These eight units sold in the range of $289-$431 per square foot.  In case you’re wondering, the one that sold for $431 per square foot was also a “decorator-ready” unit.

Out of curiosity, I wanted to see just how well priced this listing is compared to other recently built large 2 bedroom condos not only in Downtown Miami but also Brickell and Brickell Key.  I did a search in the MLS using the following criteria:

  • 2 Bedroom
  • Minimum of 1,600 square feet
  • Located in Downtown Miami, Brickell or Brickell Key
  • Building completed in the year 2000 or later

Our listing is the third best priced condo in those areas using the above search parameters and it’s not a short sale or foreclosure.  The best priced listing is a short sale at Courts at Brickell Key with 1,626 square feet of interior and an asking price of $499,000.  The second best priced unit is a foreclosure at Ten Museum Park with 1,794 square feet of interior and an asking price of $531,000.  Neither has a view that even compares to unit 5404 at Marina Blue.  Take a look at the video below to get an idea of what it feels like to live in the sky and enjoy one of the best views in Miami.

Below is the floor plan for unit 5404:

Marina Blue 5404 floor plan

Be sure to also take a look at the video tour of the amenities and common areas at Marina Blue.

If you’re a buyer and would like view this 2 bedroom condo in person, please call 305-428-3860 to schedule a showing. Broker participation is welcome.

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27 Comments on "Marina Blue 2 Bedroom on the 54th Floor – Video"


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Anonymous
Drew
6 years 5 months ago

what are the fees

Anonymous
scrivener
6 years 5 months ago

An interesting use of space.

The vessel sinks are an interesting choice.

scriv

Anonymous
Gixxer 1000
6 years 5 months ago
Condoreports says that HOA fees are $924. It seems to me that the price of these these units at Marina Blue are going up. There are 4 of these units with 1,663 sq ft. Unit 5302 was bought for $446k in 02/09 and then bought for $485K in 09/09. Unit 5404 was bought for $339K in 02/09 and is for sale at $530k now, 04/10 Unit 5504 was bought for $345k in 03/09 and then bought for $411k in 07/09. Unit 5604 was bought for $365k in 07/09 and then bought for $510k in 02/10. Out of the the ten… Read more »
Anonymous
6 years 5 months ago

That’s correct. The HOA fees are $924 per month.

Anonymous
moretroops
6 years 5 months ago

Keep telling yourself that Miami condos have “bottomed” Gixxer.

Anonymous
FQMiami
6 years 5 months ago

That kitchen is tiny. The island has the dishwasher and sink, so all the storage is located beside the stove and the cabinets above the stove. I guess if you sell yourself the myth that you will never need to cook because you’re living a chic cosmopolitan lifestyle, you won’t miss the storage space or counter space. This kitchen is not functional for a 1,600 SF unit. Meh!

Anonymous
Gixxer 1000
6 years 5 months ago
Again another person who wants to make broad generalizations and isn’t smart enough to look at specifics. You keep lumping all Miami condos together and I’ll keep looking at each condo and neighborhood separately. Case in point. Here is information on Miami home sales from the 4th quater ’09: All Homes (Miami-Dade) Median $170k %chg -26.1% $/Sqft $114 Sales 7,929 %chg 30% So the median value for all Miami-Dade homes was down 26.1% and sales were up 30%. 33131 (Brickell) Median $275k %chg 7.8% $/Sqft $224 Sales 236 %chg 54.2% But when we look just at Brickell the medain value… Read more »
Anonymous
JL
6 years 5 months ago

Assuming those numbers are accurate, the price blip up in Brickell Q409 is probably a reflection of the new construction starting to get absorbed. If you backed out the new construction, the market was probably negative like every other area in the country. Still with only 236 sales, I wouldn’t try to read much into it.

Anonymous
Drew
6 years 5 months ago

Very interesting potential new avenue of condo deposit recovery:

http://www.dailybusinessreview.com/news.html?news_id=61867

Anonymous
scrivener
6 years 5 months ago
Drew: Great find! Having glanced at the statute (Florida Statute 718.202), it appears to be a rather strong argument. If this case is upheld on appeal, assuming Swire appeals, it could be tremendously painful for developers. It will be interesting to see how this case and the law it interprets develops. I found Florida Statute 718.202(5) of the statute particularly powerful. “(5) The failure to comply with the provisions of this section renders the contract voidable by the buyer, and, if voided, all sums deposited or advanced under the contract shall be refunded with interest at the highest rate then… Read more »
Anonymous
6 years 5 months ago

Miami-Dade saw 19,918 foreclosures — up 0.8 percent versus the previous quarter and up 60 percent versus last year. By that measure, one out of every 49 properties in the county is in some stage of foreclosure

http://www.miamiherald.com/2010/04/15/1579941/many-still-losing-homes.html#ixzz0lCh6jYyH

Anonymous
6 years 5 months ago

Good Job Drew-This would be a landmark!!!!

Anonymous
Gixxer 1000
6 years 5 months ago
Conclusion of the article: While the foreclosure numbers may look grim, they don’t tell the whole story, said Andy Weiser, a Broward real estate agent. While western and central Broward County may be reeling, the eastern parts of the county are showing signs of recovery, he said. He said many sellers are standing firm on their prices and, in some cases, bidding wars are breaking out. “People realize that prices have leveled and because of that buyers are a lot more reasonable today than they were six months ago. We are beyond the bottom feeding stage.” A nice long article… Read more »
Anonymous
Drew
6 years 5 months ago
Scriv- Did you read the Opinion? Quite a thorough analysis. Of importance is that this ruling only applies to buyers who have not already defaulted under the purchase agreement. I suspect that many of the deposit-recovery lawsuits were filed on a reactionary basis, i.e. the buyer may have defaulted (or the developer alleged a default) for failure to close, and the buyer’s suit followed, based on a varierty of theories. But in this case it looks like the buyer’s diligence didn’t put him in a position where the developer could allege breach. Frankly I’m surprised that this legal argument hasn’t… Read more »
Anonymous
Richard
6 years 5 months ago
Does the video show the living room without the master bedroom wall in place?? I looked at Marquis the other day and wonder how the “private” elevator that stops at all 65 floors works. If 3 people are waiting in the lobby to go up does only 1 at a time go or do all 3 ride and have a look inside the others apartment as they get off. The individual lobby on the units floor seemed strange in that had to be used as a regular interior household hallway. In some units a bedroom door is directly across from… Read more »
Anonymous
Miami2009
6 years 5 months ago

I wonder what will happen to the inventory the developers are still holding on to if they have to pay all that deposit money back???

Anonymous
gables
6 years 5 months ago

Gixxer, please note it is a real estate agent who is stating things are showing signs of recovery on the eastern side. remember, its always a great time to buy and prices never fall.

Anonymous
Skeeta
6 years 5 months ago
My subjective take from what I see here in my building on the ocean in Miami Beach is that Gixxer is right. A 2 br/ 2ba 1530 sq ft apt sold here for $650 a sq ft in 2009. One apt in that same line just sold for $850 a sq foot last week and another is in contract for $785 a sq ft. The higher priced one is on the south side of the building and the lower priced one is on the north but neither one has unobstructed views. The highest price ever for those units occurred about… Read more »
Anonymous
why bother
6 years 5 months ago

miami2009,
no wonder you will continue to be miami2008 then 2009 and fill in the blanks. You wont buy a thing. do you have any more wierd ideas that developers will give you a condo for nothing? Other than ICON and Paramount and to a lesser degree, everglades and marquis, there are not many developer held units in miami.
I guess we will still be seeing maim2014, miami2041 and so on , on this site for many more years to come.

Anonymous
why bother
6 years 5 months ago

gixxer,
the reason Eastern Miami Dade is holding well cause the proximity to water, views conveniences and South Beach. If one wants to live in Doral, no contest. But Easy of I95 is desirable to very desirable now.

Anonymous
scrivener
6 years 5 months ago
Drew: I have not read the opinion yet. I skimmed a bit of it and agree that the judge’s analysis was quite thorough. But this is not surprising. It had to be. I appreciate your observation that the judge limited the remedy to cases where the buyer has not breached the agreement. Again, I have not read the case yet….I will, promise ….but this is significant and I think a good public policy argument. In limiting the remedy as it did, the court has fused the statute’s rule with the “clean hands” equitable maxim (“he who comes to equity must… Read more »
Anonymous
Miami2009
6 years 5 months ago
Why bother, forgot to take your meds I see. Well not sure how you got all that from my post but I visit Miami several times every year. Looking for a second home so I am in no rush to buy. So far, renting has been the ticket for me. My family and I stay in some of the nicest buildings in Miami/South Beach for a fraction of what it would cost to purchase. Our last stay was in Continuum II in a unit I could not afford even if the owner gave it to me for free. So what’s… Read more »
Anonymous
Gixxer 1000
6 years 5 months ago
why bother, I was being facetious when I made the statement. I’m perfectly aware that there is an ocean east of Southeast Florida. That was the whole point. The oceanview market has a lot more buyers. Getting an international buyer to purchase a unit in Brickell with water views and a short ride over the causeway to the beach is a much easier sell than in Coral Gables or Dadeland. A rising tide lifts all ships, but when the water retreats you’ll see the bottoms are very different I agree with you about the deposits. I work for a GC/Developers… Read more »
Anonymous
SouthBeacher
6 years 5 months ago

Richard , what else did you think of Marquis in terms of the lobby, pool, fit&finish, etc? Could u hear the highway outside? Are they willing to do deals there or are they on still on Mars in terms of pricing?

Anonymous
Gixxer 1000
6 years 5 months ago

gables,

I try not to discredit information just because I don’t like where it came from and instead just look to verify it. Here again in 4th quarter information for all three Southeast Florida counties.

All Homes (Miami-Dade)
Median $170k
%chg -26.1%
$/Sqft $114
Sales 7,929
%chg 30%

Miami-Dade zip codes that were higher:
33149 (east)
33129 (east)
33131 (east)
33194

All Homes (Broward)
Median $130k
%chg -30%
$/Sqft $98
Sales 9,243
%chg 77.8%

Broward zip codes that were higher
33442 (Deerfield Beach)
33305 (east)
33308 (east)
33323 (Weston)
33331 (Weston)
33327 (Weston)

All Homes (Palm Beach)
Median $168k
%chg -18.4%
$/Sqft $102
Sales 6,187
%chg 33.3%

Palm Beach zip codes that were higher
33430 (Boca Raton)
33434 (Boca Raton)
33486 (Boca Raton)
33487 (Boca Raton)
33498 (Boca Raton)
33467 (Lake Worth)
33408 (east)
33404 (east)
33405 (east)

Anonymous
Angel
6 years 5 months ago

Marquis pricing has come down quite a bit. 375k starting price for 1400 sq feet of great finishes (1 bed room) before negotiations is not bad at all. I am still planning on renting at Marquis for a year to see how i like the building and quite possibly buying there or at 900 where i currently reside after my lease is up in 2011.

Anonymous
scrivener
6 years 5 months ago
Drew: Thanks again for finding that article and the court’s decision. I enjoyed reading EVERY paragraph of the court’s decision, particularly because of the particular development at issue in the dispute. I would propose that this case is required reading for all (pop-quiz on Friday!) and that several points are important or stand out as I read the decision: 1. This decision is brilliantly written and the precision of language employed is something that sets this case apart from other Florida cases I have read. 2. This case is not so much about Swire’s liability as it is about the… Read more »
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