Earlier this week, I arrived back in Miami from a 5-day cruise and was able to take some nice pictures of several of the luxury condo buildings in South of Fifth as the cruise ship departed. Just wanted to share them with everyone.
Recently, the City of Miami Beach renovated 17 acres on the southern most end of South Beach, in a neighborhood known as SoFi, or South of Fifth. Hargreaves Associates, of New York City, was hired to design and update this bayfront park at a cost of around $22 million.
On a recent visit to the park, visitors participated in a variety of activities from walking their dogs, skateboarding, biking and rollerblading to playing Frisbee and jogging. Kids also played in the interactive water features scattered throughout the park.
At the southern tip, an elevated walkway guides you to a deck with sun chairs, providing an ideal spot to watch cruise ships passing through Government Cut, as well as to enjoy the views of Fisher Island, the Miami skyline and the Port of Miami. Catching some rays at the same time is an added bonus.
The bayfront walk extends from 5th Street (Icon South Beach) all the way to the tip of South Pointe Park, approximately one mile. It’s gorgeous to walk along the bay on a wide boardwalk with a marina on one side and beautiful condos on the other. Additionally, the environmentally sensitive “turtle safe” lighting illuminates the Government Cut walkway while enjoying the scenic view at night.
A mix of uses, especially green space, is always a welcome addition to any community. The renovation of South Pointe Park adds value and livability to an already charming neighborhood.
Top 5 Distressed Condo Sales Closed in April 2009
Below, you will find what I believe to be the five best condo deals of the 42 distressed sales that closed in the month of April in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District.
Emerald at Brickell – unit 2201 – 2 bedroom/2.5 bath (1,594 square feet) – This unit sold for $306,000, or $192 per square foot, on April 30, 2009. Foreclosure (#1 despite the high HOA fees)
The Club at Brickell Bay – unit 2604 – 1 bedroom/1 bath (825 square feet) – This unit sold for $110,000, or $133 per square foot, on April 9, 2009. Short Sale
One Miami – unit 3215 – 2 bedroom/2 bath (1,145 square feet) – This unit sold for $255,000, or $223 per square foot, on April 13, 2009. Short Sale
Skyline on Brickell– unit 1912 – 2 bedroom/2 bath (1,367 square feet) – This unit sold for $325,000, or $238 per square foot, on April 17, 2009. Foreclosure
Brickell on the River North– unit 1007 – 1 bedroom/1 bath (757 square feet) – This unit sold for $145,000 or $193 per square foot, on April 17, 2009. Foreclosure
Runner-up: Vue at Brickell – unit 2108 – 1 bedroom/1 bath (838 square feet) – This unit sold for $94,000, or $112 per square foot, on April 29, 2009. Foreclosure
Coming Soon – Bayview Market in the Arts District of Miami
Earlier this week, the Miami Today News reported that construction is scheduled to begin on Bayview Market in the first quarter of 2010. The commercial development will consist of up to 535,000 square feet of retail and office space and cost approximately $200M. The 7.35 acre site will be located in the Arts District of Miami on the corner of NE 17 Street and NE Second Avenue and will include big-box retailers and a supermarket.
Bayview Market has been a highly anticipated commercial development in Miami and will be a great boon for the Arts District as well as Downtown. Both neighborhoods currently lack quality retailers and a nice supermarket. Lowe’s, the home improvement store, will act as one of the anchor stores at Bayview Market. It is estimated that the development should take about 18 months to complete.