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lucas
why are there so many damn short sales and foreclosures at aqua island? what happened with this project?
I’ve been very surprised about that development. It seemed to get universal positive praise during pre-construction… made it sound like an exclusive Shangri la.
Obviously, it’s mojo ran out.
lucas, that’s what I was talking about when I commented about the need to show us the merchandise. Thanks for responding. I am impressed thus far and expect you will be able to post many good deals. Aqua looks good but the hoa monthly seems very high!
Thats the prob w/ Aqua. Great building ok location but the HOA is the dagger that will kill you.
Lucas great work these listings like that should generate mor eintrest to your site and get your more biz as buyers want a proffesional like yuo to represent them. Great job!
Lucas, I definitely agree on 2805 in the 1800 making the list of condo deals. With that view and that location and that building. It is a deal. I know that decorator ready units (concrete floors) are asking for 530K. The fact that this unit is all Marble Floor and still priced at 474K makes it very well priced (Marble floors cost anywhere between 20K to 40K to each 2/2 flat in the 18).
Guys don’t let this one go.
Heard from someone who lives there that there are sewer issues. Rocks, debris is stuck in the lines and was never properly fixed by the developer. Hence flooding problems, and other rather unpleasant issues. It is apparently on one side of the island only (not sure which one) and the other side is okay.
AJ
Have you an idea how large the quote of foreign buyers is in 1800 and Q ?
great listings! nice to see the best deals all in one place, these are what i am looking for. appear to be a lot of short sales in the list. are these worth pursuing? any experience from others on whether it is realistic to get a short sale at price listed, or is it just a gimmick to get interest?
I am loving the condo deals page. Nice Lucas!!!
Riding my bicycle around the Brickell, Downtown, Omni and Midtown areas has reinforced my thoughts that these neighborhoods would be soo much cooler and friendlier if we could extend the Metro-Mover into these areas. It would make Miami more livable and attract more buyers to these areas. Especially now with gas prices so high.
We need to band together as citizens and get the city council to actually do some forward thinking and plan this builidng expansion out.
We will need to neutralize BRAMAN, though.
Storm
I’m not sure what your beef is with Braman. He just wants people to be able to vote on all this stuff. Considering the recent debacles in public works down here, I think we all should be suspicious of any further expenditures of OUR money by our inept public servants.
my take:
1. the tunnel is a garbage idea (they can’t even build an airport terminal right; now we expect them to be able to somehow build something as complex as an underground/underwater tunnel…please).
2. regardless of how one feels about whether the public should finance sports teams (they shouldn’t), putting a marlins stadium in little havana will make no difference for the area. independent, unbiased economic studies have all shown that placing a shiny new stadium in a neighborhood does not by itself lead to a revitalization of the area.
3. expecting miami gov’t to somehow improve public transportation is like expecting a car salesman to be honest with you. these guys can’t even get the stupid, simple metromover right. you know want them to expand on this? come on.
all right back on topic. JL – you’re right. aqua got major hype when it was going up. i heard some rumblings about shoddy construction, and yes, the HOA is high. but considering the immediate area, my impression was that the purchasers at aqua would not be your typical foreclosure suspects and even if so, i’m still a little surprised by the volume of trouble there. over the past few months, i’ve seen a lot of foreclosure/short sale activity.
Storm
You should dispatch the Miami-Dade commission to take a profound look in one of our cities in Germany or Switzerland to learn how a modern mass transit system works.
But I think they don’t find it worthwile, the will prefer sitting in their offices and making blether promises.
You can’t blame the government totally for the failure of Metrorail. A lot of that has to do with the citizens of Miami-Dade as well. Rather than allow the government to let Metrorail to do something useful and run along the Biscayne corridor, a lot of NIMBY citizens whined loudly to the commission and forced the Metrorail into its current stupid configuration with useless stops like Martin Luther King and Allapattah.
Visionary,
I think there is no way to know that. Even if you want to identify them by eye, Europeans, American and South Americans look nearly similar, until they open their mouths! But from what I see in the 1800, it is loaded towards Americans and then South Americans. I have seen very few or none Europeans. That may be because all the water view units are 2 BR’s and the 1 BR’s that the Europeans prefer (?) do not have water views.
actually AJ, i have a simple test that can distinguish at least foreigners and americans. anyone above the age of 30 who is wearing abercrombie gear is definitely a foreigner. without any statistics to back me up, i’ll make a bare bones assertion that my little test has about a 87% accuracy.
all you 30+ y.o. americans that own AF gear…flame away
AJ
You are right, we Europeans prefer 1 BR’s.
I bought a 1 BR (03 line) in Q.
jcrimes:
I do not wear abercrombie clothes (to expensive)
Jcrimes
I don’t have a beef with BRAMAN personally but if we have to wait for Miamians, as a collective, to make a smart decision then nothing gets done. I agree with his points but we have to take into account that Miamian’s aren’t linear thinkers
I know expanding the metrorail/metromover will involve cost-overruns, corruption etc. but that’s par for the course in Miami. I just want it built. If we wait to get input from the general population then nothing get done and nothing changes here in Sunnyville.
J crimes,
I thought it is usually the other way. 30+ Americans wearing AF to desperately hang on to their youth.
Visionary,
03 line in Q is a nice 1 BR with water views. Good choice. I don’t know how much you paid but I last knew of a rock bottom price of 209K for one of those units.
Storm,
I really hope that the Metro Mover will be extended from the schoolboard station to Target/Midtown via NE 2nd Ave on surface or by Biscayne Blvd by elevated tracks. You gather the people from Midtown, I will do my part from the Pace/OMNI and see if we can succeed. Fcuk Norman Braman.
AJ
I paid 200k for the 29th floor (all cash).
AJ
Do give you an example why we Europeans find the Miami RE market very attractive:
The amount of the full price I paid for the said Q condo would only be sufficient as down payment in my home town for a same size 1 BR in comparable location !
We have to pay about $900-1,100 per sf and a parking space is not even included !
Parking spaces cost about $ 35-40k extra.
How does the 09 line in Q complare to the 11 line in 1800?
Not to move off topic because I think the new condo deals page is great. Thanks Lucas! I was curious why Met 1 has not been added to the list since it is a significant project of 445 units that is has been closing for the past month. Do you have any figures you could share?
I read one of the comments from the Miami Herald article about Greenberg Traurig signing for over 100,000 sq feet of commercial space that pertained to Met 1 which seems surprising from what I had read about this project in the past. I pasted it below.
Anyone have some other insight to the Met 1 Project?
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o Greenberg Traurig inks Met2 deal for HQ
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Comments
Let’s take a closer look here to shed some light on Met 1.
I thought Met 1 was supposed to be a “signature building” as well but somewhere along the way, that changed or how you define “signature” ma be the key here. Careful marketing lead buyers to the usual hype and excitement before the axe dropped and fine print within the endless pages of condo docs were more closely examined.
The typical sales pitch of all you will get and then the reality of what you don’t get when you finally close. What can be more disappointing I ask myself?
Maybe it’s the lack of uniformity to unit lines. Some having features and others that don’t when all should have the basics. MDM is unable to answer the “why’s” and just keeps focused on their number one priority which is getting buyers to close.
The majority of buyers who have moved in unfortunately from what I have heard through discussions are unhappy and disappointed with the quality and workmanship after waiting more than 4 years for completion of this project.
Residents keep asking what happened to “high end fixtures”, building ventilation for venting of washer and dryers (which leaves residents in this “signature building” with 4 hours from wash to dry to do their laundry in a “vent less” washer dryer), a roof top lounge that is restricted to residents of the 38th floor only, a garage design which can barely accommodate a large SUV at the entrance since the angle of the curve is so tight, a beautiful sauna that accommodates 1 person, unresponsive MDM crew lead by Tim Weller who more often than not does not respond to emails or most phone calls. Day in and day out, to the sales office one must go to get lip service. Need I go on any further?
We know MDM is comfortable with commercial buildings and Met 1 was their first condo project,
Met 2 I am sure will be well appointed much more so than Met 1. It’s a shame that they fell short on the delivery of Met 1 since so many of us had high hopes and trust in MDM.
Visionary,
That is an excellent price for such a high floor. It is a very good line. Yeah, parking space is not even includede in most cities and condo buildings. Most times they do not even have a balcony. Case in point, New York and most European cities. I love the fact that Miami is such a good deal compared to else where, especially now that the prices are very reasonable.
Miami 2008,
I did not see the line 9 in Quantum, but line 11 in 1800 is a very good line. It is the largest 1 BR in the building and the only 1 BR with water views. Also, it is not far from the elevator and as soon as you come out of the unit, you have the city view and pool deck view from a glass wall corridor. Go for it.
1 bedroom foreclosure at the Flamingo South Beach just became available for $229,900. It’s on the condo deals page now.
Here’s some good news about Bayfront Park’s amphitheater: http://miamitodaynews.com/news/080710/story2.shtml
The City of Miami is going to allow more congestion in the downtown area so they can collect a few bucks to balance the budget.
I hope they have lots of hip-hop concerts. The police need the overtime.
Visionary,
Thank you for purchasing from us the ’03 line 1BR unit at Q for $200k (cash). We were happy to break-even on the unit. We paid $188K from the TERRA back in 2004.
We hope you enjoy it.
Also, if interested, we have a 2BR in the ’02 line (probably the best line in the Quantum building) for $449K. The only other unit for sale in this line is the # 3302 at $550K.
Please contact Lucas for my e-mail address.
Lucas are you planning to include Bal Harbor and Sunny Isles on your deals page.
Great page, thanks.
RM,
I agree, that is a spectacular deal for an 02 at Quantum. What floor is yours on? Why don’t you have it listed on the MLS? That unit would be getting plenty of showing time if it were. Have you closed on it yet?
We had a contract but we were unable to close. TERRA and Greenberg Traurig still have title issues at the Quantum. The contract expired on June 30th. That is why it is no longer listed on the MLS.
RM,
I am glad that you got break-even.
Thank you for your offer on a 2BR in Q.
But for reasons of risk distribution, I never buy more than one condo in the same building.
$200k for a one bedroom at Quantum? That sounds wonderful! The pictures of the place make it look great, is it really all that?
I recognize that the neighborhood isn’t that great, but $200k to be on such a high floor… wow, nice.
Well, let’s see what happens to public transportation when gas becomes 10 bucks a gallon here like it is in Europe…it may force us into action…our current conditions are not sustainable…
Btw the comic relief is hilarious, you all crack me UP! I’m jiggy w it.
RM, have Monica contact Clear Title Group. Thats how we were able to close the 03. They know whats going on with the process.
Juniper,
You said “I recognize that the neighborhood isn’t that great”!!!!!!!!!!!!!!!
Are you even from Miami? You sound so ridiculous when you make such silly statements. Obviously you have no clue about the Pace Park area. The Chief of Miami Police, Many important Politicians, Movers and Shakers live in the Pace Park adjoining buildings.
You are most welcome to go away and live in a one road accessible Brickell if you want. We dont want your 200K or will appreciate your gracing our neighborhood if you do not think it is not all that. We would like people who passionately love the Pace Park/OMNI mall to come and live here. If not dont do us any favors, get lost to Brickell Key.
Samir,
You still owe me a dinner. LOL.
Linda said about MET 1: “The majority of buyers who have moved in unfortunately from what I have heard through discussions are unhappy and disappointed with the quality and workmanship after waiting more than 4 years for completion of this project.”
If you know any of them, tell them to put a cork in it! Stop the whining or MDM’s investor / partner, Shaquille O’Neal will get on a plane, come to Miami, hunt the down and sit on them!
Sorry, but I couldn’t resist. I feel for those buyers because the Purchase Contracts for MET 1 are air tight! You close or else!
AJ,
Are you still in town. How about Sunday?
Hi Samir,
I am still enjoying the Balmy NYC weather. It is 80/70 consistently and no humidity at all. Almost heaven.
I will be back in Miami Aug/Sept some time. I will cash in my chips then. Thanks for the offer 🙂
Sounds good. Give me a buzz.
If you can walk six city blocks in any direction from your condo without ending up in a ghetto or cemetery your condo is in a great neighborhood.
I’m not sure the Pace Park area passes the six block rule. The Biscayne Park Cemetery should be within six blocks of Quantum.
These guidelines have been in place since the European settlers came to America. Man made islands are exempt from this rule. Don’t feel bad if you live in Pace Park area, Midtown and Park West don’t pass either.
Apparently many important people who live in Pace Park area, either forgot or ignored the six city blocks rule.
AJ
actually, the neighborhood around quantum isn’t that nice. go a block or two west and it’s quite underwhelming.
Wild Bill said: “Apparently many important people who live in Pace Park area, either forgot or ignored the six city blocks rule.”
Probably original owners at “The Grand” (when it was “grand”) from the days when it was the only upscale residential building on Biscayne.
In the 1990’s, from 17th to 100th, or so, on Biscayne was a crack-fueled war zone. What was that City Commissioner’s name? Joe Gersten?
At lease the Everglades took out the Denny’s where the addicts used to pander 24/7!
Total reclamation of the area will take decades. It’s “westward ho” from Biscayne…if you dare!
Wild Bill, We are not Quakers or Pilgrims. For them getting 2 square meals a day is like hitting a lotto at that time. Their rules dont apply today. In any case, what the hell do I have to do 6 blocks west of Q or 18 or Cite or Grand? This area is developeing to be a city within a city from where you never have to leave if you dont want to. People who live in this area have a strong sense of belonging to their neighborhood. You cannot say about that to Park West, Brickell or Midtown denizens.
Jcrimes and all others,
Please, one evening take a stroll (not in the beautiful pace park, but) in the exploding biscayne blvd from the PAC to the 30th st with new stores, restaurants and boutiques etc. You will not believe the dazzling transformation of this area. And this is just 2 blocks West of the Q, 18 & Cite. This area will put Mary Brickell Village to oblivion soon.
lucas, will this link be updated automatically or will you issue a new updated link everytime you do your postings?
AJ is right that the infrastructure and mix of uses is better than Brickell with its parks and cultural venues, and it’s true that this area is vastly improved.
It still needs some love though…but it has been and will continue at a rapid pace to get it and get better and better.
What heartens me so much is the pride and sense of ownership AJ speaks of in the community, that is not very commonplace nowadays ANYWHERE, least of all Miami!!!
The Condo Deals page will be updated every couple of days. You can find the link at the very top of this website.
La La, Thanks for the vote of confidence. Actually it is not just me but you scratch any Pace Park Citizen and you will find that they are fierce about their loyalty to this area. I dont think the outsiders can understand. Probably they do not have such compelling reasons to love their own neighborhoods that much and they cant understand what this fuss is all about. I think there is only one other place where the community is very proud, loyal and active to their neighborhood which is SOFI.
Yes, that’s true about SOFI and for good reason too.
The foreclosures have just begun. We’re going to see a very very tough second half of 2008 and 2009. As such, I’m sure the “New Condo Deals Page” will get pretty darn long. If you had asked me how bad this housing situation would get, I would not have thought it could get this bad. The tide has rolled out and is continuing to roll out reveling a lot of crap under the water. At this point, if there are any cheerleaders left in the bubble markets of CA, FL, and Las Vegas, we need to find them a mental ward… Unless you but at least 50% down if you bought at the peak, your equity on paper will be zero and you most likely will be stuck with what you bought for a very long time.
Hi lala and AJ,
You know its always a pleasure to read both of your posts. It seems that we are always in agreement irrespective of the circumstance. As you guys know, I own a condo in Quantum and live in SOFI and hence these last 2 posts have a huge relevance for me and I couldn’t agree more with you guys.
By the way, the developers of quantum have agreed to deal with us directly and they seem amenable to work with our impromptu association. They agreed to even post our meetings in the mail room which I think is a monumental step and they also agreed to work with us regarding any and all matters that we might bring to the table. Its incredible what you can get done once you organize.
Speaking of organization, is anyone aware of a grassroots effort to unify and politically “motivate” the city into pushing public transportation to the top of the agenda. I would really like to be a part of that…
One thing that I might add… this is an informational blog and everyone has a right to express their two cents worth, but I don’t think that racism, bigotry or homophobia serve any purpose here,(or anywhere else for that matter) so please lets keep this blog welcoming to all and informational.
Great blog Lucas. I have been enjoying your input and witty comments of fellow readers.
I am looking to buy an investment property and I am little torn between Miami and Ft. Lauderdale. How would you rate those two markets? Pros, cons? I am obviously looking to put my money into a aprtment in a city that will recover quicker from the housing downturn. Which market should jump up first? I would welcome input of other realtors on this site as well.
Someone had implied earlier that one of my posts about gold teeth or “grills” and being on food stamps at the same time was about race. Nonsense. It is about fiscal responsibility and being a law abiding, taxpaying citizen. There are plenty of white people with gold teeth as a friend in dentistry has pointed out to me many many times in the past that come into her office. The same people that are on Medicaid come in and get gold teeth and pay for it in cash and drive off in SUV’s. As a mixed race person I resent the prejudice that my post was in any way racist. If the credit worthiness of the U.S. gets tested because of the huge federal spending and deficits, then Armageddon will come sooner rather than later. There is a serious possibility of a major financial meltdown and it isn’t the fiscally responsible people that will be to blame for it.
with headaches galore from freddie, fannie and indymac this week, mortgage prices could go considerably higher in the coming months. how will a 2% increase in mortgage rates affect 1. quantity of sales and 2. sale prices. this should be quite interesting to watch over the next two months. only recently have sellers begun to lower prices to a level needed to move the property, will they fall behind the curve again after these most recent debacles?
gables – There could be some serious problems ahead. See:
http://www.youtube.com/watch?v=XHNpSDSbjTg
Who wants to invest in mortgage companies now?
And to really scare you on home prices just a bit more…watch our favorite professor from a couple of days ago who was last posted in January from the NYC conference.
http://www.cnbc.com/id/15840232?video=789413982
As expected, IndyMac was just taken over by the FDIC. I had expected a press release over the weekend on this, but they wasted no time getting it out this evening… Countrywide is next if BofA bails on buying it…
I closed my one account with IndyMac months ago to avoid the hassle even though made sure under the FDIC limit. Good golly I hate having to monitor this stuff and have a dozen banks to keep under the limits… What about WaMu too?
Countrywide would have been next had BofA not bought it…. lesson for those others that don’t play buy the OTS’s rules and get bought out.
People who read the most intelligent blogs on the internet (Mish, Calculated Risk, etc), knew almost a year ago that IndyMac was toast.
Here is an easy way to tell how unsafe your bank is: if it’s paying above-market interest rates, it’s probably in real trouble. IndyMac was offereing a 4.45% 12-month CD right before they failed.
Wachovia is currently offering a 4.25% 12-month CD. Some might say they are “too big to fail”. I don’t think that’s a smart bet. WaMu is in similar trouble. Any of these banks that were dealing with Alt-A, Option ARMs, or subprime are in big trouble.
Bottom line: do NOT keep any non-insured funds in any bank right now. It may be a hassle to open accounts in several banks, but it is a very small hassle compared to the risk involved in having uninsured funds. The losses are simply too big for even the government to bailout at this point. There will be many more bank failures. This is just the tip of the iceberg.
And now that Fannie and Freddie are basically insolvent, mortgage lending as we knew it is officially dead. Get ready for a return to old-fashioned underwriting standards.
BFG – I’d need 36+ banks…it is such a hassle, so have resorted to using POD accounts that qualify for FDIC coverage.
The OTS will be acting more like a matchmaker than a disaster relief crew. There are a ton of banks looking to buy distressed banks in the local and even regional markets. One bank president told me that they are looking for acquisitions but there haven’t been many available yet. IndyMac was too big to be acquired after BofA got CW and JP got BS. I do agree there is more bank distresses to come but most will end in acquisition, not FDIC take overs.
As Jamie Dimon stated in his speech recently, we’ve returned to the traditional mortgage standards and there is no returning to the recent standards.
If Fannie and Freddie go bust then say GOOD-BYE to a housing recovery anytime soon.
AJ –
Can we give the Q and 18 talk a rest. We all know you love the building and neighborhood but it seems you get a hard-on everytime you mention your building.
Renter Tom
Do you think we will be able to clear up the oversupply of condos in Miami if we go back to traditional lending standards and 20% down?
These condos were built under the assumption that people would be able to get readily available loans to buy them. Now that those have tried up, it will take home-buyers some years to save 20%.
We can’t depend on a whole lot of Foreigners or American with deep pockets. That will only account for the condos with permanent waterviews. The others are just going to sit there for years until something gives.
Storm – FL and CA are toast for quite some time. Thankfully, most of the country won’t experience anything like those markets. The Miami area is going to get much worse. We are not even halfway through the foreclosures in the Miami market yet… Foreign money helps but can’t absorb the supply. We might end up dipping below 60% homeownership rate. I sure hope it stays above 62% though.
Renter Tom: I agree with you that many of these troubled banks will end up being acquired by other companies.
However, many of them will be acquired at the same time the FDIC takes over. That already happened last year when Netbank went caput and was immediately acquired by ING. However, only the insured deposits were acquired by the new bank. Anything else was handled by the FDIC.
So, the notion that most of these banks will end up being acquired does not mean that it is safe to keep your non-insured money there. Paulson has already admitted that even the Fed does not have the ability to bail out all these banks. “Too big to fail” has become “too big to bail”.
BFG – I agree 100%. Yes, most will get acquired, but that doesn’t mean deposits are safe beyond FDIC. I was just pointing out a difference that the FDIC won’t be acting as the receiver as in the S&L crisis.
Hi Storm,
I agree with you 100% on your statement
“We can’t depend on a whole lot of Foreigners or American with deep pockets. That will only account for the condos with permanent waterviews. The others are just going to sit there for years until something gives.”
I dont agree with you, when you tell me that I only get a hard on when I mention the Q, 18 or Pace-Omni. It is a cause for multiple orgasms. Please stand corrected.
In any case, I only come to the defense when someone wilfully or ignorantly talks down my neighborhood. If not I just lay off. I understand that you live in Midtown and I do not know why you are not vehemently promoting your neighborhood. I for one like the concept of Midtown and the idea around it.
DLJ and La La,
I am glad that I have have support and back up from you guys. Only you know the fact that there is no other 5 city blocks in the entire Miami-Dade/Broward with such infrastructure, amenities and institutions as these 5 blocks around Pace Park.
I will list them for those who are not from Miami or for those who choose to ignore the facts:
1. Performing Arts Center
2. Opera House.
3. Miami International University of Art and Design.
4. Mall (opening spring 2009)
5. Transit hub.
6. Light rail Metro station
7. 3 major brand hotels (Marriott, Hilton, Double Tree)
8. Miami’s largest Newspaper
9. Marina
10. A beautiful water front Park
11. A playground and a dog run
12. Great views even from the ground level.
13. Access to every major highway in minutes
14. Class 1 buildings with ultra quality living.
15. A major place of worship.
16. Plans afoot for big box stores, gourmet food market, multiplex, office towers, more hotels and so much more.
Now if I do not crow from the top of the mountain, who will? If anyone is suffering from a Q and 18 fatigue, then they should not provoke me with insane statements like ” it is not a great neighborhood”. Because they could be living in the Plaza, but at the end of the day, it is just a beautiful building and nothing else. Do you expect a resident from Plaza to thump his chest and say “I love my neighborhood, I live among banks and law firms. That is our USP. How great is that!!”
Sorry, one more point I forgot to add. I promise to hold my peace after this;
17. These 5 blocks around Pace are more or less like an extention of SOBE. Connected to SOBE with a causeway and a bridge, You can get to SOBE and the actual beach itself in less time than say if you were living even in Miami beach north of 22nd street or some places in SOBE itself. Pace is close enough either to bicycle down to SOBE or even walk via the causeway. No other Miami neighborhood has such an advatage. Thank You.
RM & Visionary – When you refer to the 02 line is it the B model on the Q site? What was the price per sft?
“These 5 blocks around Pace are more or less like an extention of SOBE. Connected to SOBE with a causeway and a bridge,”
Using that logic, so ar the buildings around Marina Blue, they are at the end of a causeway as well.
ALL of these new building are essentially the same: over-sized slab of concrete, with blue-glass windows, small and overpriced boxes, half-full (for years to come), and financed with “other people’s money”. Not one of them is “gold”, maybe pyrite, but not “gold”.
My attitude this morning is directly attributable to the DISMAL closing rates (after 45 days) of AXIS and 500 Brickell, both under 6%. (I would have thought that these skunks could have at least closed 10%, I would feel less foolish foe having ever gotten involved.) Thank God for cutthroat lawyers that I’m still only stuck with one unit!
Anyone know whats going on at Ten Museum? Saw some pictures on the skyscraper site and its not looking very good at all. Too bad.
MET 1 contracts are the best of any I have seen. No exit for buyers.
AJ- Omni is really just an extension of South Beach, give me a break. 17 weak items to try to justify your position is sad and insecure.
MET1 Contract may be well written. So is this statute:
Title XL REAL AND PERSONAL PROPERTY
Chapter 718 CONDOMINIUMS
718.506 Publication of false and misleading information.–
(1) Any person who, in reasonable reliance upon any material statement or information that is false or misleading and published by or under authority from the developer in advertising and promotional materials, including, but not limited to, a prospectus, the items required as exhibits to a prospectus, brochures, and newspaper advertising, pays anything of value toward the purchase of a condominium parcel located in this state shall have a cause of action to rescind the contract or collect damages from the developer for his or her loss prior to the closing of the transaction. After the closing of the transaction, the purchaser shall have a cause of action against the developer for damages under this section from the time of closing until 1 year after the date upon which the last of the events described in paragraphs (a) through (d) shall occur:
(a) The closing of the transaction;
(b) The first issuance by the applicable governmental authority of a certificate of occupancy or other evidence of sufficient completion of construction of the building containing the unit to allow lawful occupancy of the unit. In counties or municipalities in which certificates of occupancy or other evidences of completion sufficient to allow lawful occupancy are not customarily issued, for the purpose of this section, evidence of lawful occupancy shall be deemed to be given or issued upon the date that such lawful occupancy of the unit may first be allowed under prevailing applicable laws, ordinances, or statutes;
(c) The completion by the developer of the common elements and such recreational facilities, whether or not the same are common elements, which the developer is obligated to complete or provide under the terms of the written contract or written agreement for purchase or lease of the unit; or
(d) In the event there shall not be a written contract or agreement for sale or lease of the unit, then the completion by the developer of the common elements and such recreational facilities, whether or not the same are common elements, which the developer would be obligated to complete under any rule of law applicable to the developer’s obligation.
Under no circumstances shall a cause of action created or recognized under this section survive for a period of more than 5 years after the closing of the transaction.
(2) In any action for relief under this section or under s. 718.503, the prevailing party shall be entitled to recover reasonable attorney’s fees.
Go get them F*ck MDM;
any one who misrepresents their product and in a bad market tries to deliver an inferior product trying to cut corners so that they can make a quick buck should be held accountable. Find a kick ass lawyer and pull out… don’t be intimidated by these carpetbagger profiteers.
What a lot of these developers don’t realize is that sometime in the future… there will be another building boom and they are establishing their reputations now. We will remember…
IRR,
You are entitled to your opinion about the Pace park/omni area, but let me tell you… the eye candy of pace park is looking a lot better than that of south beach and I live in south beach. I am shocked that i am even saying that, but its true… just ask around. Who would have ever thought… As the prices in the beach skyrocketed, all the interesting elements that made the beach what it was in the 1990’s disappeared. Today, it is a really gentrified and a very pleasant, but somewhat generic place to live. I still prefer to live in the beach, but I can see the appeal of pace park.
Renter Tom and BFG;
Thank you both for the financial info and for the info on financial blogs. It is most graciously appreciated….
I will be making a trip to Wachovia early this week and needless to say making some withdrawals. I had no idea that wachovia was in any kind of trouble… I should have known better.
Hi Unrelated,
I wish to respectfully disagree. I did think long and hard about Park West. It is not an extension of SOBE. The bridge and causeway connections from the SOBE do not end in Park West but they do in the OMNI area. Mc Arthur, which is the nearest bridge to Park West is not ideal for walking or bicycling but the Venetian causeway is. In fact I feel like the Pace is just like the last of the Venetian Islands.
SOBE is the main allure for Miami. If not SOBE, foreigners would not be looking to buy in city of Miami. If weather is all they want and SOBE is not a factor, they could as well be buying in Boynton Beach. My point is that such a compelling reason (SOBE) is a heart beat away from Pace Park, makes it that much more attractive compared to any other place in Miami.
IRR,
Please read my post again. I threw open challenge to anyone who can identify any 5 city blocks in Miami-Dade/Broward with such a rich concentration of Infrastructure, Facilities and Institutions. You mocked my 17 “weak” reasons. But can you even give me 7 anemic and watered down reasons as to why some other location is better?
You see, I back up my arguments with some facts, however “weak” they are. Why not others use some compelling arguments if they really want to say Pace is substandard? The only sick and tired argument I hear ad-nauseum is that Pace is 6 blocks from Overtown, as if it is some kind of gates of hell. Lame.
DLJ,
Samir sent me a news item which details the extensive plans for the Omni area. Very interesting read. Confirms many of the rumours we have been hearing all along. I am also surprised that the Quantum and 900 Biscayne owner, Pedro Martin is buying the Miami Herald lots for the City Square project (may flip it to siffin). Here it is:
AJ,
As I learned from your many posts, you are a fan and addict to Miami, especially the Pace park area.
Now a shyly question: why don’t you live fulltime in your beloved town ?
AJ,
A wall mart in that area?? Although I don’t think that it would be catastrophic, I do think that it would be in bad taste… I certainly hope that we can rally the troops against a wall mart in that parcel.
AJ,
Are there any seperated bike paths or trails as they are common in Eurpoean cities.
BTW, I am also a supporter of your neighborhood.
I believe Marg Pace Park area has great potential and if you own an unobstructed waterfront unit on Q or 18 this is in my view a very good investment return in less than 5 years.
Demand for rent is impressively good confirminh desirability for neighbourhood too.
Hi Visionary,
1. How ever much I love Miami, Unfortunately, there is no money in this town to be made. You got to make your money elsewhere and spend it in Miami. I am working hard to start a business here too so that I have an excuse to live here full time.
There is no seperate bicycle path in the venetian causeway but it is a pleasure to bike down to SOBE on it. It takes 10-15 minutes to bike to Lincoln Road and 30-40 minutes of walking.
DLJ,
Yes I am not happy that a Walmart might take over that exalted space. They are saying it will be a completely different Walmart than any other existing one in the nation (what ever that means). The developer Siffin says that having Walmart as an anchor will make financing easy in these credit crunch times. I am not convinced that it is a good excuse. May be we should join James (read comments at the end of the article) in opposing the Walmart.
Dave,
I think the line 2 they are referring to is in the south tower and it is a K line. It has a huge 1400 SF under a/c so divide the asking price and you will get the price per SF. i believe they are asking for 454K.
DLJ,
What’s wrong with a Walmart in the Omni area ?
AJ,
What about biking in the other Miamian neighborhoods ? Biking paths ?
Mane,
Do you have any evidence that Q and 1800 rentals are in higher demand than other comparably priced rentals in the area?
Also, re: WalMart. I dunno, doesn’t sound too bad. I think that area, Park West and SoBe too could use a “normal” shopping destination with stores like Wal-Mart, Staples, Bed bath & Beyond et al. To me, that would be a much more desirable (and successful) addition than trying to configure something like Merrick Park in that location.
Lincoln Road, Merrick Park and Bal Harbour are nice, but this area would benefit from a normal shopping center with normal stores for daily shopping nearby.
Also, it looks like the location of the proposed cneter is more “behind” the Performing Arts center so I don’t agree with the aspect of it “not fitting in”. If you look 2 blocks away from the Performing Arts Center, Walmart would be a cut above the current inhabitants.
Well…speaking of condo deals…I went to the REDC auction today on Miami Beach. To put it lightly there were stealls to be had most properties sold at about .40 to .50 cents on the dollar. Granted these homes didnt look like the best of shape or even desirable locations but the fact was clear that all were selling mostly sellling below $250k.
With regards to condos there werent many in thsi auction but the only surprise I saw was the unit at Jade which was a low floor and went for $525k cash only no financing avial.
The unfortunate fool who bought might have gotten overheated in the bidding because if he was smart he would of realized that there was the same floor plan model unit foreclosure at Jade for 499k on a higher floor. Also since he’s acash buyer he prob woul dhave been able to offer a bit lower tha nthat price. But being the fool he was he kept bidding not thinking smart. So at the end his price was $525k plus 5%fees
so over $550k all cash. Not a smart deal considering the other MLS listing at $499 on a higher floor.
All in all it was interesting to see that the prices will have to continue to come down. Even a 2/2 on Biscyane Key went under $240k.
The Vue bldg units which is a disater bomb condo all went in the 100’s.
That auction was with reserve. Did they announce whether the high bid was accepted?
Does anyone have any idea what exactly is being planned at the Omni shops? Are they putting in a theatre there?
Facts about Miami. Are these really true?
No movie theater downtown.
The original Omni was a failure.
The original Heat arena was outdated and a failure the day they completed construction.
Our transit tax went to anything but transit.
Jungle Island has had problems paying back its loans and many consider it a failure.
Both Metrorail/MetroMover are considered failures by most. Cost to maintain per mile/lack of revenue.
The American Airlines Arena is losing concerts to Broward.
Performing Arts center is not performing.
The Herald has sold some of its land and has fired two hundred employees.
The city did not build one multistory parking garage for the performing arts center.
The city did not build one multistory parking garage for the AA Arena.
Many areas of Miami have vacant buildings dating back to the 1930’s that still haven’t been touched in twenty years. Almost the entire block NW 10 ST, east of Arena Blvd is still empty buildings.
The positive side is that the FDOT has started http://www.95express.com The only thing that can save Miami is people from Broward using Miami venues. IndyMac bank isn’t going to help Miami anymore.
Linen’s and Things
Sharper Image
Circuit City
Steve and Barry’s
They will not be coming to downtown anytime soon. Feel free to add to the list.
For the most part the properties did sell. there were a few that the auctionner said at the end of the bid “subject to seller approval” but those were few compared to the one’s that were actually sold so yes they did have reserves but it appears the reserve price was real low cause most were completed as sold.
Is Florida the Sunset State?
By MICHAEL GRUNWALD/MIAMI
http://www.time.com/time/magazine/article/0,9171,1821648-1,00.html
Pretty negative piece in TIME. Sounds like it was Ghost Written by Christopher@HousingFEAR
Anyway, I never knew that:
1) Puig used to be a janitor
2) South Florida has a water problem
3) AJ’s beloved Pace Park might be under water
PS. Regardless of the estimates for permanent rising water levels, a Hurricane near miss is usually enough to tack on an extra 2 feet at high tide. During the Hurricane Wilma period, the resting Bay came close to the top of the SeaWall in the Flamingo/Waverly area.
I never knew that:
1) Puig used to be a janitor
2) South Florida has a water problem
3) AJ’s beloved Pace Park might be under water
PS. Regardless of the estimates for permanent rising water levels, a Hurricane near miss is usually enough to tack on an extra 2 feet at high tide. During the Hurricane Wilma period, the resting Bay came close to the top of the Seawall in the Flamingo/Waverly area.
Visionary,
I don’t think that there is anything wrong with a walmart in the area. Just not right next to the Performing Arts Center and across 2 museums. This land should be reserved for something spectacular and aesthetically pleasing as it is right next to the most spectacular vista that Miami has to offer in my opinion. The last thing that I want to see before I see the cruise ships and the vista from the top of that first bridge of the islands and the sail boats with MB in the background is a walmart. No one would ever suggest building a walmart next to, in back of, or anywhere in the vecinity on Lincoln Center in New York City. Yet, it is ok for Miami??? Come on…. Nothing against wallmart. I would welcome a wallmart store in any other location in the omni area. In fact, I agree with some previous posts that it would be great for the beach and for the surrounding areas. There is plenty of land available north of Byscaine that would serve this purpose quite well. Again, its not for me to decide where it is placed. I just don’t think that it belongs next to our art center and our museums and parks… that’s all.
AJ,
I’ve already sent my e-mails to commissioner Sarnoff (who is responsible for this area and apparently not too happy with a walmart in this particular location).
JL,
I agree with your assessment in another thread to John. I have been saying the same thing all along
“Most people understand by now that if you are committed to buying a property in Miami, you need to want to live in it. As you stated, from a pure investment standpoint, Miami is nowhere near the top of the heap after the Bubble burst.”
You said Pace Park may be under water in 2100. I said that too. Floridians have one of the biggest carbon footprint among all the Americans. Some of the biggest consumers in the World. Well by 2100, hopefully there will be some sea walls built at the south point, cutting off the government cut from the sea to prevent the massive storm surges. I wont live to see that. But Kevin Costners Water World does not seem that far fetched anymore!
Hi DLJ,
Appreciate your effort. From what I understand,
1. Your Terra Group’s Pedro Martin first has to finalize and close the deal that he made with the Herald group before the end of this year.
2. He then immediately wants to flip the 3 out of 4 parcels of land to the Indiana group who want to sign on the Walmart as the tenant and anchor.
I really wish that Pedro stuck to his original plans of developing the City Square as I know he puts up good buildings as evidenced from the Q and 900.
Yes I agree, that if Walmart wants to come to this area, They can take a parcel from Norman Braman along NE 2nd Ave, who seem to own that entire neighborhood. If Walmart succeeds in planting itself next to the PAC, it will be as paradoxical as putting up a Motel 6 in an area fit for Ritz Carlton. We do need a Walmart or similar store but put it west of Biscayne Blvd.
Lets hope its a Supercenter Walmart so A.J. can walk to the grocery store.
Well, if you remember my point when I mentioned how impressed I was with Midtown awhile back when I visited Linen n Things, it was that a big box does not have to be offensive or an eyesore if done WELL.
Put the building to the street and parking behind the building or in a garage behind, put residential or office above, and make an appealing facade-quasi decent architecture (that’s the best you’ll get in Miami)- like they did at Midtown.
See, if done right, sprawlmart could be a welcome addition!
Lucas: I’m interested in older condos in the Brickell Area. Some of them are beachfront right next to the Jade Building. How can I get information on these older buildings? Is there a web site specialized in these kind of porperties? Thanks in advance.
Regards
Brian,
Miami DDA websites mentions Ralph Lauren, Apple Store, Pottery Barn, William Sonoma, Sephora and Banana Republic as tenants for OMNI.
Linens n Things is in bankruptcy and the only reason they haven’t closed the Midtown store is because they just signed the lease.
Circuit City is a three dollar stock and is an extremely iffy company. The take over by Blockbuster was scrapped.
Midtown could be called ghost town in a few years.
If you guys think expensive retail will come to Omni in the tighest credit market ever you might have to wait another ten years.
The city needs the private developer to build the parking spots for the opera house. That’s the reason they will approve of any stores even Ross or a Dollar General being placed in that spot.
Lincoln Road and Bayside have some of these major retail stores. They will not build duplicates that close. Omni is in the worst position being the last spot to be developed in a downward economy.
Good point wild bill,
But I don’t really think that Bayside and Lincoln Road will attract the same clientele as the omni area. I envision the Omni area as attracting a more local crowd; one that lives in the immediate vicinity. Bayside is definitely more tourist oriented and pricey; I don’t know anyone who lives here who actually patronizes bayside. I don’t know, maybe its just me, but it’s a tourist trap , ridiculously priced with too much of a production to get there.
My point (again) is not Linen n’ Things, it’s the way the big box is laid out in an urbanistically aesthetic and responsible way. Fine, then the Target at Midtown. It could be any store, and yes, we are missing these basic services in the downtown area and it would be nice to not have to drive to Kendall.
About Walmart moving into the area, maybe the folks at Walmart know that the area is “fit” for a walmart and therefore they are building there. I doubt any upscale stores would open in the area around pace park.
I have driven around the AA, PAC and surrounding area and dont see this area coming up anytime soon. I do not feel safe driving around on biscayne at night in that area. Forget about walking. Also, having a cemetery a few blocks away is never good. That cemetery is not going away..it will always be there. I am sure people who have city views in their condo can see the cemetery.
I looked online and there is only one starbucks and closest publix is 2 miles away. I know for a fact (because I know people who work for both companies) that starbucks and publix do a lot of research on an area before they open a store.
I used to hate coming to that area back in 04 and 05 to get my ducati serviced. Glad the ducati folks moved up north.
The initial reports I read about City Place/Omni were that it was going to be designed to attract tourists. That’s an iffy idea because South Beach has major retailers.
The new Fifth and Alton shops will be almost finished. Adding a major electronics chain.
http://www.berkowitzdevelopment.com/southbeach.htm#plans
Retailers borrowed tremendous amounts of money to expand stores. Starbucks and other chains are closing stores.
The Fifth and Alton project was planned in 2003 before the credit crunch.
carbonblack said: “I have driven around the AA, PAC and surrounding area and dont see this area coming up anytime soon. I do not feel safe driving around on biscayne at night in that area. Forget about walking. ”
What on earth are they going to do with that masoleum known as the FLOPera Tower? That is a humongous eyesore!
Those who “walked away” from deposits there were only walking away from 5% to 10% of purchase price because the deposits had been lowered to those levels a year before it was completed.
Fifth and Alton is almost done. The demographics for Omni/City Place cannot attract quality retail.
http://www.berkowitzdevelopment.com/southbeach.htm#plans
It’s Survival of the Fittest for Retail Stores
http://www.npr.org/templates/story/story.php?storyId=90142717
La la,
I am in total agreement with you regarding the importance of urban planning. It is of paramount importance in making neighborhoods functional and ripe for development. It makes all the difference.
I do think that wild bill is right in thinking that the city of miami needs a private contractor to build parking for the PAC and hence they are likely to approve any store… sad, but true. I will do my share to keep this from happening, but it may be an uphill battle. I heard today from a friend of mine that the association president of Plaza Venetia is up in arms about a wallmart in that particular spot. It does seem that the developer will face a battle in building a wallmart in that area.
By the way, the starbucks is a brand new addition to this neighborhood. If starbucks thought that it was a bad idea, they wouldn’t have opened one. I am sure that they did their homework and decided that the time was ripe. I do agree that we need a publix and I wouldn’t be surprised if we see one in a couple of years.
regarding the cemetery… so what!! You guys make it sound as if were Dante’s Gate’s of Hell…
This is actually a small cemetery by any standard which houses the remains of the founding father’s of miami… it is actually very interesting place if you are interested in the city of Miami. And think of the bright side… they are very quiet neighbors.
I, for one, like the edginess of wynwood, granted its not for everybody, but did anyone go to the gallery walk last night. It was spectacular… I’ve been to a lot of fancy artsy parties in this section of town.
Yes, the economy is crapy and reading the financial blogs, things are going to get worse before they get better. However, long term this area has HUGE potential.
http://www.berkowitzdevelopment.com/southbeach.htm
Will attract business away from Omni area.
Miami beach also needed the parking spaces.
dont hold your breath on the starbucks. the company has already stated that it will be closing down a large number of recently opened stores (from the past couple of years) and far fewer stores in the future. if the local shop does not produce great profits, its days will be numbered. everybody in pace park area should make sure to pick up there shot of java every day!
a well designed and run big retailer such as walmart or target is needed for an up and coming area to thrive long term. the building should not take up prime RE, but needs to be in a prominent location for effectiveness. this is how you draw other businesses into the area. the planning must be for an urban environment rather than the suburban designs we are accustomed to. this could be difficult to pull off effectively but can be done. new orleans is attempting to pull off some of this planning, we could learn from their successes and failures i imagine.
i did venture into areas around Q. While eastern fringe appears to be a wannabe kinda environment but perhaps would not be a big deal for some buyers. As i trudged westward, my heart sank. The musty wind and general decrepitude around made me walk a little faster only to find my heart thumping heavily as i witnessed usual culprits staring in not so amusing way. As i almost ran, i could feel the stares on my back.
No AJ, not for me.
Rightly or wrongly, a lot of people are still afraid of venturing around Pace Park/Omni after dark. Having a Wal-Mart super center in the area would definitely increase the road traffic in the area making people feel safer about the neighborhood when it gets dark.
That’s what the Pace Park area needs right now. It just needs more traffic with normal people venturing by doing normal things at all hours. Then you have a real community and not an enclave.
Did we really rebuild the OMNI just to stick an ugly Walmart inside it? I implore you to stop the madness. There is a Target 13 block away. Is there anything at Walmart you absolutely need that you cannot get at Target.
We have build numerous high priced condo’s in the Pace Park area, a Walmart would suck the life out of the neighborhood.
Retail always follows residential, as the Brickell/Downtown/Arts District area gets this current round of new construction completed and eventually with enough people living in them, the retail will follow, I think it’s pretty telling that the Target opened at Midtown.
What I would kill for is a Trader Joes! I LOVE and miss that store so much:(
You guys make the Arts District/Midtown area sound worse than it is, and I’m a HUGE chicken, I get my nails done at Harmony on 26th and Biscayne and have become quite comfortable shopping at Midtown, and I’m a 5’1″ female without a blackbelt. Toughen up people!
DLJ
I agree with you about the Wynwood area. I went to the art walk last night and was very impressed. It is one of my favorite things to do in Miami. The Galleries were varied enough to be interesting and most offered free drinks to boot.
I checked, Trader Joes is privately owned and operated and does not franchise. I did put in a suggestion for our area, you all should go to their website and do that! We need them in Florida!
Storm,
I don’t think that it would be nearly as bad if it were placed inside the omni. They want to build a new commercial center in front of the miami herald, behind the PAC and besides the 2 new museums in bicentennial park. That is what I find so offensive! Not the idea of wallmart. If they build it west of byscaine I wouldn’t object at all. JL is right in the sense that it would create more pedestrian traffic and hence make the area safer, my beef is with its exact present proposed location and not with the concept. I realize that it will take a while for high end to fully emerge in this area, but rest assured it will come.
Looking at the map, the proposed location is about as far from Pace Park as it is from the Biscayne Wall condos -about 5 blocks- (although of course you got 395 to deal with regarding the Biscayne wall developments).
I think that makes it close enough for upside and far away that it won’t dilute brand identity of Pace Park or Biscayne Wall.
Jose and other ninnies, Are there a bunch of pancies prancing around here? Jose’s heart sank and is thumping like he’s seen a ghost. Jose, are you such a chicken? If a petit female can fearlessly walk this area, you guys should be ashamed of yourselves for being such cowards.
I see everyone from all walks of life even after dark, going to the price choice food market on the 2nd Ave (well west of Biscayne Blvd) including young fashionable WHITE females (All caps, as I want to be sarcastic, other wise you guys won’t get it). What is the point in building those muscles at the gym, if you run like a rat when you see a black guy? (I am sick and tired of innuendos. Let me say it straight for what it is worth).
Let me tell you all, Overtown is to Miami what Harlem is to New York. Very historic, very Iconic and very very ripe for gentrification. Just like the Million dollar Brownstones in harlem could be had for a couple of hundred thousand just a few years ago, Same will happen in Overtown too. The gentrification will begin in a couple of years, when the gas starts hitting $7 and will be completed when the gas reaches $10 in 5 years. Overtown is the best location in all of Miami, which is still undeveloped. When the gas is through the roof, the Kendall and Doral residents would be moving to Overtown. They wouldnt be caring if their neighbor is black or spanish or anyone. Have you guys seen the beautiful houses on the 20th, 22nd st etc in Overtown? They are beautiful. I am not a single family home type of guy. If not I would nevre mind living in Overtown. In fact if I was not as tapped out as I am now and had some 50 to 100 grand lying around, I would be buying a couple of houses in Overtown. Anywhere else in Miami, you should not buy a home unless you are living in it. But I bet, your money is going to double or triple in 5 years if you buy a home there for 50 or 60 or 70 K.
Is it just my New York brashness and daredevil attitude or is it that most Miamians are such tender babies, afraid of just about everything. I dont get it. I honestly dont get it. I go to overtown to buy delectable BBQ ribs. I pass through OT many times a day instead of taking different routes or even to save tolls on 112. I just love that neighborhood. In fact I am so livid that some of you are such bigots. You have absolutely nothing to substantiate such fear and just talk shit because either you are ignorant or just plain chicken. All of you should a build a wall around yourself and live isolated. No one would ever miss you.
Back to Overtown, many are predicting its glory days will return after it fell to disrepair in the 60’s “Development pressure is increasing on Overtown, with promises of new housing and retail projects that will bring middle-class residents to downtown’s historically black neighborhood”
Count Basie, Ella Fitzgerald, Cab Calloway, Josephine Baker, Billy Holiday, Nat King Cole, Aretha Franklin, W. E. B. Du Bois, Zora Neale Hurston, Joe Louis, Jackie Robinson, Sam Cooke, Aretha Franklin, the Ink Spots, B.B. King, Patti LaBelle, Redd Foxx, Mary Wells and other giants in Black culture made Overtown home sometime or other in their lives. Compared to those names, all that your lousy condo or its neighborhod’s history is made up of scumbags and scam artists.
And WTF is wrong with a cemetery in the neighborhood by the way? Cemeteries are beautiful green spaces, they are historic and artistic. With land so expensive and crypts taking over, cemeteries would be such a rare and endangered spaces worthy of being designated as heritage sites. Unless you are fed on a staple diet of Zombie Movies, Cemeteries are to be appreciated, not be afraid of. If I had a choice to live in a building and one side would look into another building and other side would look into a cemetery, I would choose the cemetery side in a heart beat.
And just before some of the small minds start wondering about my race, let me tell you that I am not black or hispanic. But I do appreciate and celebrate every culture and every race.
If gas becomes such a big deal won’t people just lease the newer 2010 diesels or hybrids that will get 50mpg? I can imagine telling my wife and kids I’m moving downtown to save 2,000 dollars on gas and to work a job that doesn’t even exist. Doral and the airport area has more national companies than downtown.
People aren’t afraid of cemeteries. They are afraid that they will smell the fumes from the crematorium that I just got approval for. Not only will they be able to see death for there condo windows, but soon they will be able to smell it too.
wild bill,
if that’s the case think of all the money you’ll save by living right next to your crematorium. Welcome to the neighborhood.
From what I’ve read, the walmart is going to be the anchor of a much larger development. I heard Arquitectonica was going to design it, and they have a pretty good reputation from what I know. Also, the idea is that it would be a 5 story facility with restaurants and other big box stores. Something like 675,000 sq. ft.
The area desperately could use a Best Buy and a Movie Theatre. Couple that with some more eating options, and it would really do wonders. You can talk about walmart all you want, but drive down to the Walmart in Doral at 12 AM on a weekday, and it’s more packed than Target in Midtown on a Saturday afternoon. Miami loves their Walmart.
Crematoriums and cemeteries are 2 different entities. I do not know of a crematorium in a cemetery. If one exists, it must be rare.
You should see the spectacular cemeteries all over New York City. They are artistic jewels and landmarks. People live all over and around them and celebrate their existance. Some in downtown New York are designated as heritage sites and National Landmarks.
And gas prices are not the only reason to trigger gentrification of Overtown. Harlem, Chelsea, Meat Packing District, Lower East Side did not get gentrified because gas jumped from 80 cents to $1.20 but because their time has come.
Overtown sits on the best location in Miami and the land sharks, developers and pioneering settlers will not be far behind with or with out the help of high gas prices.
Best Buy is coming to The Shops at 5th and Alton, which will include 185000 sq. ft. of vertical retail space and a 943 space parking garage.
Brian,
I agree that we do need a Best Buy near Downtown Miami. I doubt we’ll see one though anytime soon since they are building one in South Beach at the Shops at 5th and Alton which is currently under construction. I’m shocked that the city of Miami Beach decided to build such a high trafficked store such as Best Buy right at the entrance to the MacArthur Causeway. If you think the traffic gets backed up on weekends on the MacArthur now, just wait until the Best Buy and new Publix open. It’ll be a nightmare to get into South Beach. So many more people will be using the Venetian Causeway to get into South Beach which will mean more toll revenue though. Does anyone have any idea how that toll revenue for the Venetian Causeway is divided between the cities of Miami and Miami Beach? My guess is that it is split 50/50 but I have no clue.
I truly hate going to Circuit City in Midtown. It has the worst customer service and usually only has one person working a cash register. I’ve walked out of that store three times before without buying anything even though I was intent on buying something. The third time I actually talked to the manager to let him know how I felt. I’m a very patient person and can tolerate long lines if a store is packed. However, that store is never that packed. It isn’t even understaffed. It’s just that they have too many salespeople goofing around with other salespeople and not enough employees working the registers. One time, me and 6 other people were waiting in line while 4 employees were in the manager’s office goofing around. One guy in line finally got fed up and opened the office door and told them that they needed to get someone to a second register.
About three weeks ago, I decided to drive all the way to Kendall to shop at Best Buy because I had enough with that Circuit City. It probably took me about 60 minutes to drive there and back but I knew that I wouldn’t have to put up with piss poor service.
I guess I didn’t learn my lesson though because this past Friday I decided to give the Circuit City in Midtown another try. Same result though. One person working the register…on a Friday!!! I’m shopping online until that new Best Buy in South Beach opens. A Walmart at the OMNI will even work. However, if we do see big-box retailers open at OMNI then that means we’ll see not only the MacArthur Causeway backed up, but also the Venetian.
Wild Bill,
You beat me to it. It took me a while to write my previous post about the new Best Buy (and my headaches with the Circuit City at Midtown).
Lucas,
Took me about several visits to finally give up on the Midtown Circuit City. They list sales items online as available for pickup, but they wouldn’t put the product into inventory to buy until the next morning. Of course they did this over and over. They are fairly good at trying to up-sell. Bought the same computer in Aventura in store in under 15 minutes. I bet after several years into their lease they will finally close.
Hopefully Barnes in Noble will be in the shoppes on Fifth.
Overtown
http://www.city-data.com/forum/miami/276354-where-overtown-crime-ridden-city.html
AJ, be careful where you ride your scooter at night… stay East of the railroad tracks.
Look at the crime statistics. Overtown is pretty much at the top. Its not that great of a city AJ.
guys…stop trying to convince AJ that his neighborhood sucks.
AJ…what are you shoveling? this isn’t about crime or cemetaries. for $300 + sq ft i want multiple restaurants, multiple things to do and multiple daily conveniences all within walking distance. YOU DO NOT HAVE THAT NOW IN YOUR NEIGHBORHOOD (but you have the miami herald according to your list? why on earth does that matter?). there’s potential, i’ll give you that, but there’s alway potential with any neighborhood. the question is, if i’m looking to make a purchase today and i had to stick a finger on a map of miami where that purchase should be (and considering that the average hold period of a personal residence is seven years), is omni/pace the place to buy. no, it’s not at its current prices.
you like your neighborhood. that’s really good of you. and in five/ten years from now, it’s bound to be nicer. but today’s purchaser is more than likely to be gone by then.
Right, but in 5 years, I guarantee you’d rather be where AJ is suggesting than some arbitrary, random place in Brickell
PLEASE….Can any of you RE people post an Internet link on which I can search by address and find the lienholder(s) (lender) on a Miami Beach condo?
THANKS!
first, that’s speculation. second, and more importantly, that’s tomorrow…not today. and that’s the whole damn point.
Jcrimes,
People with vision are the one who will get ahead in life. So start seeing the tomorrow. Any fool can see the Today.
AJ
you are completely missing the point.
Good point but those with that same vision thought the market for these overpriced condos was going to keep selling now they can barely get .50 cents on the dollar. Who’s the fool now? The only ahead in life they are in now is the top of the foreclosure list or begging the bank for a short sale.
Lucas,
Exact same experience for me at the Circuit City Midtown! So it is not just me then. I summoned the manager and threatened to report them to the headquarters, but did not carry out my threat as the manager pacified me and rang up my wireless router.
I do agree that tropical way of life is not as efficient and clock bound as the Northerners are used to. I do not spin out of control if this happens to me in Santo Domingo or Acapulco (Actually I have much pleasant experiences there and other tropical paradises). But Miami being in USA, one of the most efficient countries in the World, it is unacceptable. I dont know what is wrong with that Circuit City. Target does not have that problem though.
I fully agree with you about the future bottle necks at the SOBE end of Mc Arthur. OOps, sorry, Mc Arthur is already jammed at the SOBE end now. When the 5th and Alton opens, The jams will be all the way up to Watson Island Parrot Jungle. It is a matter of concern for me. I take under 5 minutes to go from Pace to SOBE via Mc Arthur. Sometimes I feel like a coffee, and I jump in my car and go to SOBE. I guess that luxury may not be there for long as I may have to start leaving myself 20-30 minutes to travel to SOBE in the rush hour and on certain dates.
Well I will have to use my bicycle more often than I thought over the Venetian. At least I have an option.
Short Sale Unit at Cite 3/2 went pending sale $229k or $160 a sq ft for 1427 sq/ft
So that to me is realisitic for today’s market $150 – $160 a sq ft.
Once again,
I have never called those who bought from 05 to 06 as visionaries. Yes if you foresaw immediately post 9/11 that something is happening in the RE market and bought then, you are a visionary. Also when you saw in late 04 that your aunt is digging up some money from under the pillow to invest in RE should have also made you realize that the doomsday is about to descend. I made my choices before the other joined the bandwagon. I bought my SOBE condo before the boom began and I controlled myself for 4 years before I jumped back in for my second kill. I have completely bucked the trend. I am a trend setter and a leader and I do not follow. I am telling you guys to see it for what it is much in advance before anyone does. You are all pretty smart and intelligent, if not you wouldnt be blogging here anyway. So why do you want to risk sounding dumb? I know you did not mean it when you said “those with that same vision thought the market for these overpriced condos was going to keep selling “. These are not people with vision. They are lemmings. Followers. If not they would not be in the soup they are in now.
Midtown Miami still has 250,000 square feet of promised space has not opened. If I were the Omni developer I would rush to build another quarter million square feet of retail. The 185,000 fquare feet at Fifth and Alton is not enough. We need more forward thinking people to create more retail space. Chain stores in every neighborhood.
Wild Bill,
BDB is also building a big retail complex in at NE 2nd ave and 17th st in a 7.35 acre lot. Just one block west of OMNI. It will be called Bayview shops, Lowes being the anchor in the 1st floor.
7 acres isn’t enough we need more retail.
We need at least a trillion new square feet of retail to be a world class city. Can’t they build a mall over Pace Park and the cemetery. What about air rights to those?
W Bill,
Please don’t join the ranks of the lunatic fringe!
Wild Bill said: “Can’t they build a mall over Pace Park and the cemetery. ”
I say get rid of the eyesore but keep the cemetary. 8^)
Check this out
http://bobmiami.com/category/gentrification/
Hey with all the banks now in danger expect more issues. Those that think this is over might as well lay in the cementary.
The prices will ultimatley drop and hundreds more will foreclose. Do the math….mortgage, taxes, insuranse add them up and god help you if u didnt put 20% down and have to pay mortge insuranse.
It’s a perfect storm to debt that Miami end users cannot afford in these glitzy condos. Only for a few.
Hey I would luv to live in them but right now it’s just not feasiable. I can affort it but would have to allocate most of my take home pay.
Short Sale Unit at Cite 3/2 went pending sale $229k or $160 a sq ft for 1427 sq/ft
So that to me is realisitic for today’s market $150 – $160 a sq ft.
Agreed. This is the price point at which I would jump on one of these units.
Question for people who know the history of Art District.
The art district is great. I love the area, but everything around it totally sucks. It is dangerous and not pleasing to the eye.
Question: What sustains the art district? Is this some experiment that is going to last a few years?
I ask because I doubt the viability of the art district. Why would anyone go there just to look for super expensive furniture and paintings. They happen to have a few good restaurants and clubs, but that is not enough to sustain a community. Is the art district beign propped up by someone with deep pockets hopint to sell condos around that place?
Carbon,
I think you are confusing the Arts District with the Design District, which is north of 36th Street. That’s where you’ll find the expensive furniture stores, nice art galleries and restaurants. By the way, if you’re looking for a great restaurant to try, I highly recommend Michael’s Genuine in the Design District. I’m so glad that a friend turned me on to this fantastic restaurant.
The Arts District doesn’t have any nice restaurants that I know of unless you consider The Daily to be a nice restaurant. Don’t get me wrong, I love The Daily but I don’t consider it a restaurant but rather a fabulous deli. I’ve heard that there’s a nice sushi restaurant between 17th and 18th on Biscayne but, again, it’s too small to be considered a restaurant. Maybe I’ve missed a hidden gem in the Arts District though. Anyone know of any?
The Cite 3/2 for $229K. Before everyone gets too excited, remember this short sale price is subject to bank approval; it has not been pre-approved.
This unit sold in ’05 for $545,900. It clearly is not worth that today; however, I don’t see the bank agreeing to a price of $229,000.
Some on this blog deal with banks and short sale scenarios on a daily basis. What are the odds of this going through at this price?
perezo,
I agree. It’s too early to tell about the 3/2 short-sale at Cite on the Bay. I don’t know of any unit at Cite selling for less than $300 per square foot. Short-sales are a crap shoot. Most of the time they are a big waste of time. However, one of these banks are finally going to give in and accept a sub-$200 per square foot price. Once that happens then it’ll create a solid comp for the rest of the short-sales in the building to go off.
Regardless of this Cite result, banks very soon are going to start approving these short sales en masse. With Washington Mutual trading like it’s going under ( 5 year chart http://finance.yahoo.com/echarts?s=WM#chart1:symbol=wm;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined ), and further runs on LEHM/Bank of America and a host of other banking institutions; banks simply will not be able to keep non-performing loans. Either get what you can in the market right now for the note or keep it non-performing and have Wall Street write it off as 0 and get crushed by the Stock Market which will cause further runs on the bank. Rock and a hard place comes to mind for every bank holding a large number of non-performing loans.
So I’m trying to figure if a property is on the mls with a list price short sale what’s the point then in listing it if the bank isn’t going to accept the offer.
If they want to sell it then put out the price they would accept and if it doesnt sell then keep lowering it untill they get the price their comfortable with losing.
For me, as a young person, I am much happier where I live (22nd st. + biscayne) than I would be in Brickell or Miami Beach. I mean, South Beach would be nice, but I have a bay view from my bedroom, pay under $1400, and can walk to the nightlife that I frequent. I have the beach within a 15-20 minute bike ride, and it’s only getting better from here.
You can enjoy going to bed at 8 PM in Brickell, but for young people, the “Pace Park” area is going to just keep getting better and better.
Once Again,
Unfortunately, short-sales don’t work that way. If an owner contacts a bank to let them know that they’d like to do a short-sale, a bank will likely tell them to bring them an offer and they’ll talk about it. Without the offer, there is no short-sale consideration. It sucks, but that’s just how it is. Once an offer is made, the bank will typically have a professional appraisal conducted on the property. If their appraisal isn’t in line with the offer then they usually submit a counteroffer. It may take months until the bank realizes that first offer that they originally denied looks golden to them now. Last year, a client of mine offered $440,000 on a short-sale. The bank rejected my client’s offer. The unit eventually went into foreclosure and was sold at an auction for $390,000. $50,000 to a bank is nothing though. Don’t worry, the government will step in to stop these banks from going out of business and us tax payers will foot the bill.
Lucas…you are right. I did confuse the art district with the design district…my bad.
Brian
what nightlife do you frequent in your area (that you walk to)?
Lucas,
Regarding short sales, isn’t there something called an approval package which implies in some cases that they have approved the short sale listing amount?
Lucas, you missed Bin No. 18 in the Arts District. A truly great little restaurant with very reasonable prices. Highest rec.
In other news, the United States is experiencing financial armageddon. Sports at 11.
There’s plenty of great restaurants in the Wynwood/Design District / Buena Vista Areas……One in particular that I am pushing everyone towards is a hole in the wall French place called Buena Vista Bistro on 45th and NE 2nd…VERY reasonably priced and Amazing food…Also check out Brosia, Domo and Driade in the Design District
Brian,
I’m with jcrimes on this one – what nightlife is there to walk to around 22nd and Biscayne? Are you talking about Parkwest, Pawn Shop, Studio A, etc? If that’s the case, maybe I’m crazy, but I’d value my life way too much to walk from 22nd and Biscayne to all the way over there.
Say what you want about Brickell, but there’s a lot more action to be had at Blue Martini and Segafredo than anything I can think of around that area, and I don’t have to worry about getting jacked walking there. Pace Park is too far to walk to the downtown clubs, too far to walk to the restaurants in the Morningside area, too far to walk to the Design District. Thumbs down.
someone mentioned earlier that they prefer a WALMART in their downtown area on the vacant lot than a MERRICK PARK type of buildout. these are the kinds of people living in these areas now? note to self: do NOT buy into brand new downtown condos …
carbonblackcab:
The arts district is where the local and international galleries are opening their doors for a place of business.
If you recall recent history the fact that Art Basel initiated doing their Miami edition of the fair brought a lot of maturity to this city but Miami is not only about having culture one week a year but it is developing into a city that projects itself as a mature city in the future.
Im sure in the area there will be restaurants in the future that are attractive but Miami has enough of that. The district offers culture to the city, something that we need to become a real city and not just a big town.
Here is my experience on short sales:
-What the seller is asking the bank to do in a short sale is to take a hit on their mortgage/loan amount on the unit. Or take a shared hit on the depreciated asset or the seller will threaten to allow the property to go towards foreclosure where the bank will take 100% of the hit.
-In order for the bank to accept a decreased mortgage amount the seller must also show that they are in a distressed situation. The bank will not accept a short sale if you have $1MM in cash in your bank account as they will go after that if there is any shortfall in their mortgage amount.
-The seller needs to get an offer(s) on the unit in order to get a response from the bank on taking a hit together. Additionally sellers also will try to sue the bank for not acting in a prudent way thereby causing further loss for the seller. For example if a reasonable offer fell away because the bank did not respond in a reasonble time frame. Again sellers want an offer as soon as possible as they know this can be further leverage against the bank.
-Short sales never close quickly because-it takes time to receive an offer, seller to justify/prove their distress situation, negotiate the decreased mortgage amount and finally get back to the buyer.
-Lastly, banks were originally not set up with a large foreclosure dept. so it is typical that there is one banker per 500 customers in arreers(late mortgage payment) or foreclosures. In other words they are swamped and need time to get familar with each situation. Banks also need to do their due dilligence on each account and since short sales are far from being “REO” bank real estate owned and not on the bank’s books they don’t have to need to move quickly.
-In summary, from a buyer’s perspective, you should bet that the majority of the time your offer on a short sale will not be accepted. But if you can confirm from the bank that they have pre-negotiated a settlement with the seller, you have a better chance that your offer will be considered and not used by the seller as a negotiation tactic.
Thanks Schumy. Due to the foreclosure volume hopefully these banks will wake up to the new reality. Miami-Dade’s June foreclosure numbers are out, and news only gets worse. Here are the numbers:
2005 7,829
2006 9,814
2007 26,391
2008
January 3,544
February 3,984
March 4,240
April 4,480
May 4,260
June 4,596
These are just the number of filings, so the affect of these won’t be felt for months to come.
Lucas-
Axis pictures, opinions, updates?
Haldon,
1. Opinion: Glad I got out!
2. Two months into closing, 6% closing rate on 700+ units.
3. Approximately 200 units for re-sale since June 1, 2007.
4. Approximately 10 purchaser lawsuits since April 2008.
Search: BCRE
Call it what you wish. IMHO you might want to call: Michael Schlesinger at (305) 373-8993
Good Luck!
gonazalo,
you want miami to become a ‘mature’ city? then bring in proper eduction and solid high paying jobs! until that happens which is not likely ANYtime soon … sadly, this will stay a boom/bust city for tourists. just like the country as a whole, the people running the city are yes-men who don’t know their heads from their rumps!
I might be crazy, but I’ve never even gotten a sidelong glance on Biscayne Blvd. Walk on NE 2nd, and you’re absolutely deadmeat, but Biscayne has cops everywhere. Even by cab its only a couple bucks.
LUCAS, check your email please. thanks.
DOES anyone know any sites like this one..LUCAS’ that concentrate on NYC, SoCal and/or NoCal ?? any info on other sites is much appreciated. Thanks…
cyrus – go to http://bubbletracking.blogspot.com
You will like it, it is very very good. And you will be scared too.
Cyrus – Click on link above. You will be scared of SoCa. Good website though.
guys i was asked a question today that i could not answer, so i knew someone here knew this answer: the question was ” do u think that there were some people who bought into preconstruction condos, without putting the developer needed 20% down. basically was it possible to purchase a condo and negotiate with these developers and only give maybe 15 or 10% down? or was it the same with every buyer in the building if the contact reads 20% then every unit needed 20 %”
thanks in advance
jr56
at least during the boom i doubt it happened in any material amount. people were selling their first born to get units, thus, they were more than willing to comply with the prereqs imposed by developers. moreover, say what you want about the banks, but one thing they did try to ensure compliance with during the boom was the down payment and sales requirements before funding construction loans.
What ever happened to the downturn, the 1800 developer just raised the parking space prices this week by an additional $5000 per space quoting excessive demand and lack of enough spaces. I really wish I bought another space before this raise. I got influenced a bit by the nay sayers and the housing bears on this blog, who kept saying that all these new buildings will start crumbling to dust due to lack of occupancy and other crap bullshit. I said to myself, maybe I should wait a bit and the desperate developer will sell me a parking spot for less or may be I can even get a choice spot on a lower floor. Lo and behold, the reverse has happened. I should have trusted my instincts. I will now be buying a parking spot for $5000 more than I would have before. Nevertheless I would rather buy it now for 25K than to pay 30 or 40 or 50 K in the future for a parking spot. Thanks a lot guys!
sincerely
Stark Raving Mad
How many spaces does the building have?
Do you know the unit split?
Not sure if these guys asked for a variance on parking and that’s why they are short.
RENTER TOM,
what site/link are you referring to about SoCal? and know any related to NYC or NoCal? thanks…
It’s being reported that IndyMac depositors were given “receivership certificates for any money they couldn’t immediately withdraw and may be able to receive some of that money after the bank’s assets are sold off.”
What’s that real estate term? Oh yeah, “motivated seller”
Among those assets are condos in 401 Blu, Regatta, Neo Lofts, the Club, Blue, Isola, Vue, Courvoisier.
Check out their properties at:
http://apps.indymacbank.com/individuals/realestate/search.asp
hUGO p, Most developers will give you 1 space assigned with the purchase of a unit. 2nd can be purchased for approx $25,000 – $35,000. If you can buy the second space buy one directly from the developer asap as they wont last forever. Also preferrably during the purchase of the unit so you can wrap it into your mortgage.
AJ,
I have a friend who just moved into 1800 Club. Those parking spaces are definitely in short supply there. She told me that only like 29 cars are allowed to valet a car at a time in the garage and that there’s a sign in the driveway.
hugo,
I don’t know what you mean by variance on parking. Can you explain?
Samir is right on about the parking. You got to get your 2nd space right away.
This is the break down of the parking spaces in the 1800.
Total no. of spaces approx. 720
Total no. of units 470
Available additional spaces 250.
Reserved for the management office and the valet spaces about 50
Total with the developer for sale in the open market about 200.
I do not know the exact number, but I believe that the developer has sold off more than 80%
of the available spaces already.
Just to puncture the bubble heads bubble, the developer is selling the storage units in 1800 (yes the spaces with no windows or ventilation) for anywhere between $107 to $150/sf. And let me tell you , there is a very healthy demand for these too. And you tell me that living spaces would be available for $150 soon!?
Lucas,
Yes, I heard that parking is becoming a major issue. My association committee member told me today that the building looks very populated in every floor. That means all the 69% of the condos that are closed are either being populated by the owners or renters. Looks like a very healthy building occupancy wise but if 60-70% occupancy in these buildings causes such a shortage of parking, I wonder what the future holds. The only public garage in Pace area is the OMNI garage and it is not cheap.
AJ,
If there is an overflow, perhaps Lucas’ “friend” could rent or sell spaces at FLOPera Tower!
cyrus – Click on my name in my last post for the link. I had tried to post the link directly but this site wouldn’t post it. So, just click on my name on my last post.
Cyrus:
Develop your mentality and your vision. By doing so you will contribute towards the development of the city, if not you will be swimming in a glass of water 😉
Un Related,
I wouldn’t park in that spooky flopera tower even if i’m offered a free parking! I have been to the building once and couldnt wait to get out. The circular hallways give an eerie feeling as if a ghost would just float from around the blind curve.
Renter Tom,
Your previous comment probably got picked up by my spam filter. It sometimes takes me a few days to go through and de-spam the valid comments. I’ll do it now.
JR56,
I asked the same question a few years ago to a sales rep who worked for a developer here in Miami. She told me that the lender for their development was requiring a 20% deposit on 90% of the total units. I’m guessing that the percentage was slightly different depending on the lender though but this was probably a general rule of thumb. I would think that most developers wouldn’t offer a reduced down payment out of the gate and would instead hold onto these incentives towards the very end when they had to push their last remaining units. For example, about 6 months ago I remember seeing ads in the Miami Herald from a developer who was allowing only a 5% down payment. I think it was Wind.
I also remember talking to a contract holder of a unit at Ten Museum Park when closings began there. He had a deposit that was smaller than 20%. I can’t remember if it was 5%,10% or 15% though. Regardless, it made it that much easier for him to walk away.
cyrus – See post #173 above…..
LUCAS and RENTER TOM
thx alot guys…
Lucas,
Short memory or selective amnesia? LOL
You said: “For example, about 6 months ago I remember seeing ads in the Miami Herald from a developer who was allowing only a 5% down payment. I think it was Wind.”
I don’t want to cause you any grief, however, at least a year before completion, FLOPera Tower was taking 5% deposits and advertising such for months in the Miami Herald!
Ok… getting back to the parking issue… (BTW, I am a developer)
720 spaces with 50 reserved for Valet (usually for guests) leaves only about 1.4 spaces per unit. (670/470). We have done analysis in several properties of different types and have found that you need at least 1.65 spaces/unit.
Usually, codes require 1.5spaces for 1 BR and 2 spaces for 2BR, so you get the point.
Does anyone know how to reach Richard Crowder the real estate speculator who invested 36,000,000 million dollars in 14 units at the Continium in 2003? According to the Miami Herald article he was “systematically lying on mortgage applications, fabricating supporting documents and arranging bogus appraisals. He got all of this done with a burlary case, that was his only brush with the law.
I think he is in jail now and thought I could pick up one of his units at the Continium at a good deal. Does anyone know how to reach him or the real estate agent involved with these deals?
thanks.
Neil J. Davis
[email protected]