Unit 701 at Carbonell in Brickell Key Revisited
Some of you may remember unit 701 at Carbonell which appeared in an earlier post entitled “Top 5 Distressed Condo Sales in December 2008“. The 1 bedroom/1.5 bath condo with 1,031 square feet of interior closed on December 19, 2008 for $215,000. Many of you felt that a condo for $209 per square foot at Carbonell was an amazing deal.
Well, the condo is back on the market. It appears that the investors who purchased the unit felt that they got such a great deal that they could flip it for a profit. The condo is now listed for $295,000 after two quick price reductions. I showed it Sunday afternoon. I didn’t realize until later that it was the same condo that previously sold as a foreclosure in December.
I know everyone hates to hear the word “flip”. However, I think the investors will be able to accomplish just that. The condo doesn’t have much of a view but it’s a very spacious floor plan, is in great condition with beautiful marble floors in the living room and kitchen and is in one of the best buildings in Brickell Key. Unit 701 is by far the best priced one bedroom at Carbonell at this time. The next best priced one bedroom is listed for $415,000. Unit 601, one floor below, is listed for $439,000.
Perhaps the investors will decide to hold onto their purchase. The condo is also listed for rent with an asking price of $1,825 per month.