1 Bedroom Short-Sale at The Bentley Bay – $299,000

January 28, 2009 by Lucas Lechuga

The Bentley Bay view

Yesterday, a 1 bedroom/1 bath short-sale at The Bentley Bay came onto the market for $299,000.  The condo has 780 square feet of interior space and direct views of Biscayne Bay, Star Island and the Downtown Miami skyline from the 23rd floor.  It has marble floors throughout and appears to be in immaculate condition.  The current owner paid $600,000 for the condo in August 2005.

The Bentley Bay short-sale

I normally don’t give much weight to short-sales because 8 out of 10 times they end up being a waste of time.  However, it may be worthwhile to submit an offer to at least see how the lender responds.  Given the previous sales price and recent comparables in the building, it’s likely that the bank will counter with a price that’s higher than the asking price.  Within the past four months, there have been 3 one bedroom condos at The Bentley Bay of comparable size that have sold.  The sales prices were: $436,500 (14th floor), $325,000 (4th floor) and $415,000 (9th floor).  Of the one bedroom condos currently available at The Bentley Bay in the MLS, the next best priced one bedroom is listed at $380,000 (10th floor).

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22 Comments on "1 Bedroom Short-Sale at The Bentley Bay – $299,000"


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Anonymous
jcrimes
7 years 7 months ago

the building has some construction issues (will the balconies ever be fixed?), although the unit looks nice. if i recall, the hoa is high.

Anonymous
7 years 7 months ago

Aside from construction issues, there’s one other major problem at Bentley Bay…from what I understand, the building is valet-only. To me, that’s an immediate deal killer. Unless you’re a vacationer, it’s not worth the constant hassle of having to call valet every time you want to see your car. Forget something in the backseat? Call valet. In a rush to get out of the building? Nope, can’t…have to call valet first.

Anonymous
Roberts
7 years 7 months ago

Do you tip every time? How much?

Anonymous
Angel
7 years 7 months ago

Not to mention having those kids they have as valets driving my sportscar.

Anonymous
Renter Tom
7 years 7 months ago

JB – Amen to that! A pain…even though the valet pay and monthly bonuses are included in the HOA fees, you still feel like you have to tip….gotta pay twice to have the privilege of waiting for your car.

Anonymous
7 years 7 months ago

Looks like a very nice unit, well maintained. However, HOA at $931/mo…ouch! Could this be accurate?

Anonymous
AJ
7 years 7 months ago
I live close to Bentley on SOBE. Wierd Building. Don’t like it. The baywalk in front is nice though. Very expensive monthly dues and no self parking. On the plus side, 5th and Alton Mall is outside the doorstep and Bal Harbor style mall is proposed next to it (in the now defunct South Shore hospital). I read the Tibor Hollow story. I am very surprised to find that he is responsible for Venetia/Grand/OMNI mall. I have a new found admiration for the guy. I hope he builds the tallest building in Miami as planned by 2016. He is absolutely… Read more »
Anonymous
Raffi
7 years 7 months ago

Like most condo prices now adays, the prices are looking good but the HOA fees are ridiculous. over $900/month for 780 sq/ft? thats nuts.

Anonymous
AZ88
7 years 7 months ago

-The high HOA and the valet only policy at the building are dealbreakers. Who the hell wants that? Def not me..

-Also, I have a friend (renter)that had his balcony closed in the building for 8+ months due to hurricane damage from Wilma. Anybody know about recent assessments/amounts in this building?

Anonymous
chris
7 years 7 months ago

I really liked this building and almost bought one about 2 years ago. Found out at the last minute that it was valet only. I never even knew to ask because they have that huge garage you can see from I-395. Complete deal breaker for me and I turned it down.

I would simply guess the HOA fees are high to repay that balcony damage that has taken over 2 years to repair.

Anonymous
gables
7 years 7 months ago

AJ, if i can get a nice place on the water for $100k at the expense of others economic mistakes, i’ll take my chances and do it. because i had no chance of buying a $500k unit a couple of years ago and nobody was worried about me. at $100k i can work at mcdonalds and still pay the mortgage. everybody will have their day in the sun sometime!

Anonymous

LOL AJ!

You can pay $150,000 on two people making 10 bucks an hour working at fast food and live comfortably.

2 people making 10 bucks an hour is like 40K a year, which is what most people in Miami make.

Sorry to burst your bubble AJ, but this will happen.

Anonymous
Phil
7 years 7 months ago

Valet parking only…hmmm. So what happens if you have a motorcycle ? Would they allow you to self-ride it out, are you expected to hand the keys over to some punk ?

Anonymous
jcrimes
7 years 7 months ago

actually AJ, i’m not sure i want to live next to a best buy. if it wasn’t already one on the weekends, the intersection at 5th and alton is about to turn into a parking lot.

in all seriousness, i can’t believe they’re building this ungainly monster of a mall on this lot. it is going to make living in the area a real pain on the weekends if you have to drive.

Anonymous
Raffi
7 years 7 months ago

the valet only thing is not for me but there are many that don’t mind at all. just ask anyone in williams island, and that place is super nice and always full of residents (High HOA and valet only). I guess it all depends on the location of the building.

Anonymous
chris
7 years 7 months ago

I agree Jcrimes. The intersection of 5th and Alton is going to look like the entrance to Aventura Mall on Xmas eve every weekend. Those tiny roads won’t be able to handle all of the traffic. Once that Best Buy, Publix, and other big box retailers open its going to be a nightmare at that corner.

Anonymous
7 years 7 months ago

That will force people to use the Venetian Causeway and pay a toll. I wonder if Miami and Miami Beach split the toll money equally. I agree though that the traffic around 5th and Alton is going to be a nightmare.

Anonymous
The Ace
7 years 7 months ago

Nuts to pay anything above $125.00 when will they ever learn.

The Smart Money

Anonymous
AJ
7 years 7 months ago

Christopher,
I am sorry to hear that you only make just $10/hour. I should be more sensitive towards the downtrodden and those below the poverty line. I will try.
And Yeah, why not, hamburger flippers from McDonalds should live in buildings with multi million dollar amenities. Why not? Bloody Communist Idealogues. Lets make the entire World into Dachas.

Anonymous
gables
7 years 7 months ago

most of these buildings are not multi million dollar amenities. they are a swimming pool, hot tub and common room/lounge with fancy furniture and plasma TV to impress the occasional visitor. you even pay for additional parking!

Anonymous
AZ88
7 years 7 months ago
Getting back to the valet only policy and why its such a bad idea. Think there had been some discussion about this in a previous post (Ten Museum Park) but would like to reiterate the points. First of all, time. If you valet your car, expect to add an additional 5-10 minutes to get it versus getting it yourself. Wasted time in my opinion. Secondly, money. Expect to tip the valet at least a dollar everytime you get your car. 2x a day x 365 days a year….you do the math…unnecessary cash to spend…espec in lean economic times. Third, security.… Read more »
Anonymous
7 years 7 months ago

That’s one of the great things about a house. You want to go somewhere, you are in the car and on the road in a minute guaranteed.

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