3 Bedroom Foreclosure at Mosaic in Miami Beach

December 14, 2009 by Lucas Lechuga

Mosaic in Miami Beach

A 3 bedroom/3 bath foreclosure condo at Mosaic Miami Beach came onto the market earlier today.  The condo has 1,507 square feet of interior space and 333 square feet of balcony.  The list price is $702,900, or $466 per square foot.  The flow-through unit is located on the 15th floor and has direct ocean and city views with a balcony on each side.  The next best priced 3 bedroom in the building is listed for $949,000.  That condo happens to be in the same line but located four floors lower.

Mosaic is a beachfront luxury building located in Miami Beach at 3801 Collins Avenue.

Leave a Reply

126 Comments on "3 Bedroom Foreclosure at Mosaic in Miami Beach"


Sort by:   newest | oldest | most voted
Anonymous
6 years 9 months ago

Just saw Lucas tweeted this earlier. The problem with Miami’s elected officials isn’t that they are criminals… it’s that they are DUMB criminals.

SEC Investigation Targeting City Of Miami
http://cbs4.com/local/sec.investigation.miami.2.136595

Anonymous
6 years 9 months ago
Anonymous
Wild Bill
6 years 9 months ago

Does Brooke Hogan still rent a unit in this building?

This building has too many LIS PENDENS and CIVIL COURT PAPERS to excite me. I need a death spiral deal.

Anonymous
Lara
6 years 9 months ago
Anonymous
Poorand unemloyed
6 years 9 months ago

Aren’t we hearing these near bottom prices for past 3 years now. One thing for sure – people can ask whatever price they want and some people will use that as a market turning point.

Anonymous
Manny
6 years 9 months ago

Another overpriced condo. Asset valuations will continue to fall for the next 3 years, and $466 per sq. ft. will become excessive. Just wait. This is a declining economy that has no new bubble to prop it.

Anonymous
Joe
6 years 9 months ago

Yeah, $466 per square foot for a condo way up in the 3800 block of Collins is just a tad excessive, IMO.

Anonymous
Wild Bill
6 years 9 months ago

Condo buyers allege flipping scheme
http://www.heraldtribune.com/article/20091213/ARTICLE/912131050/2416/NEWS?Title=Condo-buyers-allege-flipping-scheme

This story has it all. I wish I could find these Brazilian buyers. They could take my condo off my hands any day.

Anonymous
scrivener
6 years 9 months ago

Wild Bill:

Great article! Thanks for the post.

These dead-beat Brazilian buyers should be persecuted, prosecuted and, perhaps, publicly flogged!

scriv

Anonymous
scrivener
6 years 9 months ago

Miami hotel moves 300 guests due to water-borne bacteria

http://www.breitbart.com/article.php?id=CNG.f126eb54bdd49a96b5651384818d3f2b.511&show_article=1

300 Fla. hotel guests moved after bacteria kills 1

http://www.breitbart.com/article.php?id=D9CJ92VG0&show_article=1

Epic Hotel shut, Legionnaire’s suspected

http://southflorida.bizjournals.com/southflorida/stories/2009/12/14/daily3.html

scriv

Anonymous
southbeachsand
6 years 9 months ago

Didn’t WCI, who built this building, go bankrupt while they still owned several units? I wonder if they left a big gap in the associations budget.

Anonymous
Seanjohn
6 years 9 months ago

Reading that article the Brazilian’s are just a component of the complicated & extensive parties that should be prosecuted in these cases. It seems in retrospect that the whole industry operated in a willful vacuum of basic ethics or standards.

Anonymous
Rupert
6 years 9 months ago

This may be a good deal, but for this price I wouldn’t settle for anything north of the W. I rather wait until this same sized unit is offered at Icon Brickell or Infinity for 200 a foot…

Anonymous
DJ
6 years 9 months ago

A 3/3 at 1,507 sq. feet sounds like it would be pretty cramped inside….just my humble opinion.

Anonymous
Lara
6 years 9 months ago

32 condos have just been purchased in 401 Blue condo conversion building in Miami Beach. These were all remaining units in the hands of the developer(actually he was not an original developer). Condos were purchased by an Italian co. Closings will take place in January 2010. The details of the deal are unknown to me at this time.

It is just FYI

Anonymous
loki
6 years 9 months ago

You can a;ready get that deal at Icon Brickell. They have slashed prices by 30%

Anonymous
Poorand unemloyed
6 years 9 months ago

Wild Bill:

Good post. Forget the Brazilians, if they were Brazilians! Which realtors were involved in marketing those fabulous luxury condos?

Someone collected the $600,000 in commissions. Lot of money for not knowing the identity of the buyers.

Anonymous
scrivener
6 years 9 months ago

Poorand unemloyed:

Great point. Another avenue of attack: get the names and file complaints with the Florida Department Business and Professional Regulation

https://www.myfloridalicense.com/entercomplaint.asp

Get these people off the street.

scriv

Anonymous
Joe
6 years 9 months ago

And what about the scumbag lawyer, Hector Diaz? He claims he caught the assistant taking money and fired him/her, but why didn’t Diaz report the assistant to the police? Don’t “officers of the court” have a duty to report such activity?

Anonymous
scrivener
6 years 9 months ago

Joe:

I say we vote him off the island!

Who’s with me?

scriv

Anonymous
DJ
6 years 9 months ago

Yeah, this Hector Diaz guy sounds about as dirty as they come. He has no disciplinary history as per the Florida Bar….I have a feeling that will probably change soon.

Anonymous
shwin
6 years 9 months ago
This is quoted text from comments that follow Wild Bill’s posted article: http://www.heraldtribune.com/article/20091213/ARTICLE/912131050/2416/NEWS?Title=Condo-buyers-allege-flipping-scheme the following statements do not reflect my views or opinions and i’m including them because there are some pearls that can help when doing your homework for condo re. “Only fools, saps, and woman buy condo’s ( for the most part ) To purchase a condo – 3 must ask questions you should ask the realtor or owner before you buy. * How much money is in reserves? ( higher the better ) * How many units in the building are owned and occupied by the same… Read more »
Anonymous
6 years 9 months ago

Good read:

Foreclosure buyer demand dips as supply mounts
http://www.reuters.com/article/idUSTRE5B90JZ20091215

Anonymous
jcrimes
6 years 9 months ago

38th and collins is a nice area.

still too pricey and the building is in flux. this was a big speculator building.

Anonymous
Wild Bill
6 years 9 months ago

Shwin,

I saw that post. Most that stuff is too complex for the average buyer. They have no clue what a condominium budget should look like. They have no clue about all the rules and regulations. Most people in Miami don’t even now how to use a trash chute. Very sad.

The average dumb buyer will only look at view, location, and price per square foot. Most of what is repeated on this site daily.

Anonymous
southbeachsand
6 years 9 months ago

It is sad how many brokers and buyers do not look at the buildings financials. A condo is like buying into a BUSINESS….with hundreds of strangers. Its crazy how many buyers go into a building “blind” without knowing how stable or unstable the building is.

Anonymous
DJ
6 years 9 months ago

I just noticed that Lucas has this place listed on his condo deals page: http://www.miamicondoinvestments.com/property-search/view.php?mlsid=M1354533

What’s the deal with this place, and lofts in general? Bare concrete everywhere and the cheapest looking tiles I’ve ever seen outside of a gas station bathroom. It’s like the developer didn’t even finish the project.

I can’t really think of a more awful, uninviting place to live. What I really can’t believe though is that someone is actually asking over a million dollars for that empty shell. Not to mention it’s in one of the worst neighborhoods there is.

Anonymous
Poorandunemployed
6 years 9 months ago

scrivener

Ouch!!!!!!!! Did that really hurt your feelings? I am sorry! I meant to say the stupid sellers who paid $600,000 in commissions.

Anonymous
Joe
6 years 9 months ago
Wild Bill said, “The average dumb buyer will only look at view, location, and price per square foot. Most of what is repeated on this site daily.” — Actually, I doubt the average buyer even considers the third item. Calculating price per square foot is actually a savvy move, but I doubt most buyers do it. Instead, they calculate *what they can afford,* i.e., “I qualify for a $__ per month mortgage and this condo costs $__ per month.” Very few buyers look at VALUE — only price. —— southbeachsand said, “It is sad how many brokers and buyers do… Read more »
Anonymous
Kramer
6 years 9 months ago

I agree with jcrimes. Mosaic has a great location. Actually you have a location that is direct ocean and boardwalk – 2 minutes to the expressway and then a straight shot 15 minutes to the airport. You are a stones throw to South Beach without being right in the middle of weekend traffic nightmares and the sometimes drunk and rowdy bridge people crawling up and down Collins and Ocean Drive. It’s a 5 minute cab ride to Lincoln Road or Ocean Drive without the parking hassles.

Anonymous
Joe
6 years 9 months ago

I don’t think anyone has said the 3800 block of Collins is a bad location. The objection is to the $500/sf price tag. That’s almost SoFi pricing.

Anonymous
Wild Bill
6 years 9 months ago

Most buildings lie about HOA fees. I’ve worked in real estate before. I’ve seen fraud on all sides. Real estate agents, condo boards, title insurance, and appraisals. The federal government is involved in a ton of fraud cases with FHA loans.

Feds Allege Real Estate Fraud Ring; Crime: Thirty agents, others are accused in $10-million scheme involving FHA loans.
Los Angles Times May 30, 2002
2002? WTF? It’s still going on today.

http://lmgtfy.com/?q=fha+fraud
http://lmgtfy.com/?q=owner+occupancy+fraud
This stuff has been going on forever. Real estate and the financial markets are the most fraudulent items in America.

Anonymous
iphoneapi
6 years 9 months ago

Test

Anonymous
scrivener
6 years 9 months ago
Poorandunemployed: No. Your observation concerning the $600K in commissions collected by the agents in question was right on point- – though not surprising that they did not know the identity of the buyers. If I had a dime for every ethically questionable thing I have seen or heard a real estate agent do in the past ten years – – (including the pin-head agent who, without my permission, entered my apartment and showed it to a perspective buyer – – breach of contract by the agent and trespass by the potential buyer) – – I could retire. As for the… Read more »
Anonymous
Drew
6 years 9 months ago

http://www.miaminewtimes.com/2009-12-17/news/golf-porn-on-ritzy-fisher-island/

This story has it all: porno, condos, foreclosures, wealth……

Anonymous
Kramer
6 years 9 months ago

Drew

Ahhahahaha. Thanks . That was precious.

Anonymous
scrivener
6 years 9 months ago

Drew:

NICE!

scriv

Anonymous
Drew
6 years 9 months ago

I’d like to know how the “modeling agency rep” was able to contact him about the 6-hr lease. I bet he was marketing his unit on a per-hour basis for “modeling shoots” just like this. Now he’s trying to claim ignorance due to Fisher Island backlash. Plus, any dipshit knows that “modeling” is usually code-word for porn.

Plenty of condo owners and homeowners (primarily North Bay Road, Sunset Islands, Venetian Islands) actively market their homes for these Internet porno videos.
Its easy money…just throw away the couch and clean the carpet afterwards.

Anonymous
southbeachsand
6 years 9 months ago

Mosaic is still a nice building. It is new construction and beachfront – thats quite rare in Miami Beach.

Location is good for a permanent home, because its only 1 mile to Lincoln, yet very quiet in this area. The beach is very clean and not touristy/dirty like south beach.

However to note….this building faces directly into the new Caribbean condo tower. Caribbean took away those great views down the beach, and took away the privacy. I think it even cast a shadow on Mosaic pool because of how close it is.

Anonymous
rg
6 years 9 months ago

Mosaic is also right across the street from a huge NURSING HOME.Do upscale people want to live there .I DONT THINK SO

Anonymous
rg
6 years 9 months ago

Did not mention that beside that hideous looking nursing home across the street ,I think its called freedom house,you have that pretentious horrific monstrosity that blocks every view that you can have of the beach from the south ,besides they cannot even sell one apartment in that building .In the long run it will rent to subsidized tenants .Watch out for abandoned buildings on both sides that have derelicts sleeping inside .Good luck ,would not buy a condo in mosaic for over $300 .

Anonymous
AJ
6 years 9 months ago

Drew $600 for 6 hours is chicken shit. I will not rent my dog house for that kind of chump change. This guy must be one desperate dude.
BTW, I tried to find the flick on bangbros site and could not. Anyone know the link or is it removed due to the pending lawsuit?

Anonymous
Kramer
6 years 9 months ago
Geez – So Continuum is next to Penrods free for all nightclub and Apogee is next to a subsidized senior citizen retirement tower. And Caribbean is NOT right next door to Mosaic and if this listing has direct east ocean views who the heck cares if you dont get a straight shot as you look south. This building is direct oceanfront convenient to everything and everywhere and @466. per sq foot is a good deal for brand new oceanfront direct east views. Keep up with the mis-information posts. Waiting like joe i suppose for $400. Apogee and Continuum deals. Give… Read more »
Anonymous
Joe
6 years 9 months ago

Kramer — Get serious. $466/sf in a building known to have a high % of investor-owned units, lis pendens, etc., is a huge gamble. I don’t care how nice the view is, if the condo/HOA itself is unstable, then it’s a bad buy.

Anonymous
Poorandunemployed
6 years 9 months ago

Kramer

You said it right. Who the heck cares …… $466 per sq ft is a good deal….

For a realtor! Duh!

In this whole mess there are few winners – Relators, Realtors and Realtors. Not all are bad but the good ones have not done anything to weedout the bad ones.

If you want to know what future holds for Mosiac – check the Santa Maria and Bristol Tower prices from 90’s. If you do not know – then you can not predict the future. If you cant find them – tell me and I will send them to you.

Anonymous
iphoneapi
6 years 9 months ago

Testing

Anonymous
AJ
6 years 9 months ago
Good News! I am very happy for Epic. Downtown Miami hotel gets partial reprieve in guest’s death Miami-Dade health officials say the tourist who died of Legionnaire’s disease did not contract it at the Epic Hotel in downtown Miami. Miami-Dade health officials called a hurried press conference Wednesday evening to give downtown’s luxury Epic Hotel & Residences a partial reprieve in their investigation of one tourist who died of Legionnaire’s disease and two who were sickened by it but recovered. The tourist who died contracted the disease somewhere else, not at the hotel, they said. The two who were sickened… Read more »
Anonymous
Unemployed and uneducated
6 years 9 months ago

More condos to sieze on money laundered from overseas by foreign nationals who do not pay taxes. Jig is up

Anonymous
scrivener
6 years 9 months ago

Unemployed and uneducated:

Time will tell.

scriv

Anonymous
Visionary
6 years 9 months ago
wpDiscuz

For Real Estate
Related Needs And Inquiries

please complete the form below

  • This field is for validation purposes and should be left unchanged.