Espirito Santo Penthouse Foreclosure – Condo Deal of the Month

October 31, 2009 by Lucas Lechuga

Espirito Santo exterior

While searching the MLS Friday afternoon I came across a bi-level 3 bedroom/3 bath penthouse foreclosure at Espirito Santo that was extremely well priced. Not surprisingly, the listing agent only found the time in his busy schedule to upload two interior shots. Compelled to check it out for myself, I quickly made it over to Espirito Santo.

Unit 3405, the 3 bedroom penthouse foreclosure, has 1,934 square feet across two levels and a balcony located on the first floor. The condo foreclosure faces south and resides on the 34th and 35th floors. Condos with balconies are found only on the south, east and north sides of Espirito Santo.

Below is a video I shot of the first level which is where the living room, kitchen, third bedroom, third bathroom and balcony are found:

The following video contains footage of the second level which is where the laundry room, second bedroom, second bathroom, master bedroom and master bathroom reside:

As always, I also shot an array of pictures of the 3 bedroom condo and wanted to share them with everyone.

Living Room

Living Room/Dining Room

Kitchen

Third Bedroom

Third bathroom

third bathroom

staircase

upstairs landing

laundry room

Second bedroom

Second bedroom

Second bathroom

double doors to master bedroom

Master bedroom

Master Bedroom

walk-in closet

Master bathroom

separate shower

toilet and bidet

southeast view

south view

southwest view

The MLS states that the maintenance fees are $1,000 per month but my guess is that they’re closer to $1,300 per month. (Once again, the listing agent was probably too busy to pick up the phone to find out the correct HOA fee.)  This penthouse condo at Espirito Santo has a lot of potential.  At this price, the buyer will likely do a complete renovation and create a spectacular penthouse.  The asking price of this condo is $799,900, or $414 per square foot.  Unit 3405 previously sold for $1.46M in March 2007.  There’s no doubt in mind that this penthouse will go for at least full asking price.

Call me at 786-247-6332 if you’d like to make an offer on this Espirito Santo penthouse condo.

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10 Comments on "Espirito Santo Penthouse Foreclosure – Condo Deal of the Month"


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Anonymous
BillyK
6 years 10 months ago

What kind of complete renovations would you do?
The videos and pictures indicate, ready move- in condition.
Is there something that we cannot see or feel?

Anonymous
Dave
6 years 10 months ago

The building is iconic from the outside but the unit lacks the open feel of other newer units with far more windows and glass balcony railings. The penthouse at 1800 and Jade felt like living in the clouds with long views while this unit feels closed in, like it could be in any cold northern city. A primary reidence for a local, not a 2nd home.

Anonymous
Drew
6 years 10 months ago

Are those 7′ ceilings? I’m already claustrophobic.

Anonymous
DJ
6 years 10 months ago

Looks pretty nice, but I hate that the view is totally blocked by that other building. Part of the reason I bought the place I did was because it has completely unobstructed views of the water for 270 degrees. There’s nothing worse than having to look into other peoples units and have them see into yours. Especially at this price point.

Anonymous
AJ
6 years 10 months ago

DJ,
Congratulations on your new flat. Pretty nice layout, space and views. Lots of Luck!

Anonymous
AJ
6 years 10 months ago

Lucas,
You twittered about your Paramount tour. I am sure you took lot of pics. Can you do a photo essay on Parmount Bay? Also are you no more going to provide the condo closing rate graphs like you used to do before? It was such an invaluable tool to compare the stability of different buildings. I miss it.

Anonymous
SwissLuxury.Com
6 years 10 months ago

ESPIRITO SANTO is a beautiful building with great amenities, but they make a HUGE mistake by not allowing any pets of any size…….

Anonymous
gables
6 years 10 months ago

swisslux,
a building which banned pets of any size would get bonus points from me. have you any idea how annoying it is to put up with neighbors pets all day? clawing, whining, barking at all hours, with owners there or not. dogs do not belong in high rise condos. i am an animal lover, but these condos are not appropriate for the dogs. buy a house with a yard if you want an animal.

Anonymous
southbeachsand
6 years 10 months ago

That thing is really claustrophobic.

Anonymous
SwissLuxury.Com
6 years 10 months ago
Gables, I own a 9 pound toy fox terrier who has lived in high rises since birth and someone stays at home with him 95% of the time….He sleeps at my feet while on the computer and loves to walk at Bayside or Brickell Key…….I agree with you that poorly behaved pets, those that are left home alone too much, and larger animals belong in much more spacious outdoor quarters. Many condo dwellers do have pets so having a no pet policy simply makes it harder to sell or rent units……even hotels in this economy are accepting animals and waiving… Read more »
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