Brickell Heights Development Site Tour Through Google Glass

Brickell Heights is the latest pre-construction condo project to be developed by Related Group.  Location is going to be a HUGE selling point for this development due to its proximity to Mary Brickell Village and the upcoming Brickell City Centre.  Residents of Brickell Heights will be just steps away from 5 million square feet of an array of luxury shops, restaurants and entertainment.  Seeing is believing though, so I decided to hop in my car to give everyone a tour of the development site using Google Glass.  You will see that Brickell Heights is directly across the street from Mary Brickell Village and just one block south of Brickell City Centre.

Update: I now have Brickell Heights floor plans, renderings and an e-brochure on my building profile page.

Miami Condo Investments Free Mobile App Available for Download on iTunes and Google Play

For those new to the website, or those who might be unaware, Miami Condo Investments has its own mobile app.  It is free and available for download on iTunes, for the iPhone and iPad, and on Google Play, for all Android mobile devices.  I released the iPhone version back in December 2009 and followed it up with the Android version about two and a half years later in May 2012.  I may be a bit biased, but it truly is an amazing app.  In many ways, the real estate app was ahead of its time when I released it in 2009.  It still remains as powerful as ever though and I personally use on it on a daily basis.  In fact, I recently made the jump from using an iPhone to an Android phone and it was the first app I downloaded.

I would love to hear your thoughts and feedback on the app.  I am hoping to release an updated version sometime in 2014 and welcome any ideas for it that you might have.

Introducing the Brickell and Downtown Miami Condos Google+ Community Room

Let’s hope that three time’s a charm.  Since launching this website in 2007, I have attempted on two separate occasions to introduce a forum which would allow those with an interest in Miami real estate to communicate and share with one another related content such as pictures, videos and new stories.  Both attempts failed, mainly due to bots who would litter the forum with an insane amount of spam.  It was impossible to keep up with and a huge waste of time even attempting to do so.

A year ago next week, Google launched a service called Google+ Communities which allows people to form groups based around a specific topic.  Since then, I have joined a variety of communities and have been very impressed with how clean and spam-free these groups can be.  This is mainly due to the requirement in which participants must log-in using their Google account.  The fact that there is a face and profile attached to a name keeps everyone, for the most part, on their best behavior.

Earlier this year, I created a Google+ community room called Brickell and Downtown Miami condos.  It is my hope that this will end up being a sort of round-table for all interested parties to discuss and share freely content related to the topic at hand.  As stated above, to join you must have a Google account.  This helps keep the forum clean and free of spam.  Presently, there are 29 members.  My goal is to get that number up to 100 members by the end of next month and 1,000 by the end of 2014.  The success of this room, however, will heavily rely on your participation.  So, please take the time to join the communities room, introduce yourself and share a piece of content if you have anything interesting to share.

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Top Five Condo Deals in Downtown Miami

As mentioned in my last blog post, I think real estate values in Downtown Miami, for a number of exciting reasons, are ready to take off.  Museum Park is about a year from being completed, Miami Worldcenter seems an almost certainty, and a proposal for a 1000-foot observation tower called Skyrise Miami was recently submitted to the city of Miami for approval.  Also, with prices starting at $4M, the addition of One Thousand Museum will only help position the area as Miami’s equivalent to New York City’s Park Avenue.  If there were ever a time to be excited about the prospects for Downtown Miami, the time is now.

So how does one take advantage of all this fabulous news?  Well, surprisingly, there are still a number of great deals to be had in the existing condo market in Downtown Miami.  Due to the illiquid nature of real estate, market news oftentimes get disseminated at an almost snail-like pace and, as a result, does not manifest itself in pricing for quite some time.  The same, however, does not hold true for the pre-construction real estate market.  Prices there are set by developers who take into account any and all information that will have a positive effect on neighborhood values from now until completion of the project.  In that regard, it is sort of like buying commodities futures with the price determined by future expectations and the likelihood of those expectations being met.  The hope for contract holders is that market values present at the time of delivery will be at or above their contract price.  That is why one will notice a sizable gap between the price per square foot for existing condos and the price per square foot for pre-construction condos .  In other words, the promise of what is yet to come has already been taken into consideration when determining the contract price.

My point is that the existing condo market is slow to act.  As a result, there are definitely still good deals to be had.  Below, you will find a list of five condos currently available for sale in Downtown Miami that I believe are undervalued and well positioned to take advantage of the positive news that is now shaping the neighborhood.

Before I start, I want to first say that none of the properties listed below are my exclusive listings.  These were chosen unbiasedly by me because I truly feel that they warrant inclusion.

5. Marquis 3707 – This is a bi-level, 2 bedroom+den/3 bath corner unit with 2,081 interior square feet and 20-foot, floor-to-ceiling glass windows.  The unit is located on the northeast corner of the 37th floor offering beautiful views of Biscayne Bay and the Atlantic Ocean.  It also overlooks Museum Park which is currently under construction.  The only drawback to this unit, and likely the reason why it hasn’t sold yet, is the fact the landlord is getting very low rent until October 2014.  The tenant was able to negotiate a great deal in exchange for paying the entire lease upfront.  A triumph for the tenant but an ill-advised move by the landlord because, from an investment standpoint, low rent has an adverse effect on a property’s value.  If a buyer can stomach the low rate of return until October, there is an opportunity here to buy at a great price the only bi-level, 2 bedroom corner unit currently offered for sale at Marquis Residences.  Asking price is $1,250,000, or $601 per square foot.
   
4. Marina Blue 5205 – This unit likely won’t win any Best in Show Awards but it has incredible potential.  If one can look past the traditional, almost anti-Miami decor, I’m sure one will find incredible value here.  This is one of the largest 2 bedroom floor plans at Marina Blue, a rare combination unit found only on floors 52-56.  It is a 2 bedroom/2.5 bath condo with 1,660 interior square feet and 10-foot, floor-to-ceiling glass windows.  The unit faces east-southeast and enjoys a panoramic view of the Atlantic Ocean, Biscayne Bay and Downtown Miami skyline.  Asking price is $725,000, or $437 per square foot, which, in my opinion, is low considering the fact that it is a prime floor plan located on a very high floor.  Given a few recent comps, and the fact that the listing has grown stale after sitting the market for 600 days, there should still be room to negotiate on the price.
3. Marina Blue 1603 – This might be your last opportunity to own a 1 bedroom + den at Marina Blue for under $370,000.  This is an approved short sale priced at $355,000, or $376 per square foot; an incredible value no matter how you slice it.  Every unit at Marina Blue has a direct water view and this unit, located on the 16th floor, is no exception.  In fact, it not only offers a view of Biscayne Bay but also the Downtown Miami skyline.
2. Ten Museum Park 3101 – Unfortunately, the listing agent hasn’t uploaded any pictures of this unit onto the MLS.  I’ve seen it in person though and it’s a beauty!  The bi-level, 2 bedroom/2.5 bath corner unit sports 20-foot, floor-to-ceiling glass windows, offering an amazing view of the water and a front row seat to all the action down below at the upcoming Museum Park.  The unit is impeccably designed and exudes the sexy, clean look for which Miami is known.  Asking price on this 1,802 square foot loft is $1,150,000, or $638 per square foot.
1. 900 Biscayne Bay 5302 – While there are cheaper 02 and 09 lines available for sale in the building, this one is located on the 53rd floor and comes completely furnished.  Equally important, the unit has always been owner-occupied, and it shows.  The condo is tastefully decorated and offers not only direct bay and ocean views but also sunrise and sunset views from this 53rd floor flow-through unit.  In my opinion, these flow-through units, which are relatively rare in Downtown Miami, will become extremely valuable once Miami Worldcenter gets built.  Not only will owners get to enjoy the amazing water views to the east, but they will also be able to check out the action down below at MWC to the west.  It would be like overlooking Time Square in New York City.  The price was reduced $115,000 yesterday and is now asking $975,000, or $619 per square foot.  Also, the listing states that the owner is motivated.  This could be a good time to snag an amazing unit at an excellent price.

If you or someone you know has an interest in learning more about any of the above properties, or would like to view any in person, please contact me via email at [email protected] or by phone at 786-247-6332.

Updated Video and Brochure for One Thousand Museum

For those of you who have not had a chance to check out the latest promo video for One Thousand Museum, go check it out now. It is pretty spectacular.  I believe the video has been around since last month but it wasn’t until earlier this week that I actually sat down and watched it in its entirety.  The video not only does an outstanding job of showcasing the amazing design of the building and jaw-dropping views, it also highlights the promise of what is to come for Miami – more specifically, for Downtown Miami.  It is this promise, and the excitement that surrounds it, that will inevitably propel real estate values in Miami past those last seen at height of the market in early 2007.  With Museum Park set for completion in 2015, the ever-impending formal announcement of Miami Worldcenter, and the recently proposed Skyrise Miami, there is a lot to be excited about in Downtown Miami.

Below is the latest promo video for One Thousand Museum:

Below is the latest e-brochure for One Thousand Museum:

Museum Park Photo Update

While showing condos in Park West Miami Tuesday morning, I had a chance to check on the progress being made on Museum Park.  Here are a few shots that I was able to grab using my cell phone.  The Perez Art Museum MIami is slated to open the first week of December in time for Art Basel.

444 Brickell Acquired by Related Group for $100M

Once again, foreign buyers have what seems like an unrelenting appetite for Miami real estate.  Perhaps nobody knows this better than Related Group.  Since mid-last year, they have been on a massive land hunt in Miami.  This past Friday, they were back at it again when they paid $100M for a 4-acre site located at 444 Brickell Avenue.

$100M is a hefty sum by any means, but how does it compare to other land acquisitions in the past?  Most notably, how does it compare to the price paid for the land directly across the street at the Icon Brickell site?  Icon Brickell, also developed by Related Group, resides on a 5-acre parcel of land that was acquired in 2004 for $94M.  Besides their size, the key difference between to the two parcels of land is that 444 Brickell resides along one body of water, the Miami River, while the Icon Brickell site resides along two bodies of water, the Miami River and Biscayne Bay.  To put it simply, this past Friday, Related Group paid $6M more for a piece of land that was one acre smaller and positioned with less water frontage.  This comparison goes to show just how much real estate values in Miami have bounced back since the boom and bust cycle of yesteryear.

There is no word yet as to what will be constructed at the 444 Brickell site, but, given the $100M price paid for the land, one would think that it will be just as monstrous as the 1,800 unit development across the street.  Expect to see at least 1,600 luxury units along with high profile commercial space at the base.

• Related Group buys prime Brickell Ave. site [South Florida Business Journal]
• Related spends $100-Fricken-Million on 444 Brickell Avenue – [Curbed Miami]

I’m Back!

After what seemed like a long hiatus, I’m back in full working mode.  About three months ago, I decided to take a step back from blogging to allow myself adequate time to train for my upcoming Ironman Florida race.  I am happy to announce that the race went extremely well and I am now officially an Ironman.  I completed the race in 10:13:32.  It was my first Ironman race ever, and even more incredible is the fact that it took place just five months after completing my first triathlon ever.

Expect to hear much more from me in the months ahead.  If you are on Google+, be sure to circle my Miami Condo Investments business page.  There you will find news and other content related to the Miami real estate market.  To learn more about my personal interests and hobbies, circle my personal Google+ page.  As of late, I have become a very active member of Google+ and find it to be a much more robust and powerful social platform than either Facebook or Twitter.

Don Peebles Discusses His Favorite Real Estate Markets in America

His assessment of the sub-markets in Miami and Miami Beach is right on point.  The recovery that both markets have seen over the past five years is simply astounding, and for good reason.  Miami, for a number of reasons, is an alluring city which attracts buyers from all over the world.  That has, and likely will continue to be, the driving force behind each sub-market’s rebound; a force which, in all likelihood, will push values well beyond those last seen at the peak of the market during the first quarter of 2007.

Google Glass – The Future of Real Estate Marketing

I have always had a fascination with marketing.  It is the hunt, not the kill, that thrills me.  Marketing has always been a numbers game.  The objective is get your message across to as many people as possible – in a non-spamming way of course – in hopes to procure a sale.  In real estate marketing, your objective is to not only get your message heard but also seen.  Not just seen, however.  Seen in a profound way that

I am what one would call an “early adopter” of technology.  To me, technology allows for the dissemination of a message to a mass audience.

To me, technology is a mode of delivering this message to a wider or more distinctive audience not achievable in the past.  With the advent of the Inte.  I shun to think what marketers used to do before the advent of the Internet.

the success of my real estate business in large part is owed to

have built my career on integrating the latest trends and technology into my real estate business.  From blogging, to videography, to mobile apps, to cutting edge website design and social media integration, I have

At the turn of the 21st century, there was lots of interest in Virtual Reality….now

Over the past three weeks, since obtaining Google Glass, I’ve been discovering, mainly through trial and error, what works and does not work in regards to shooting first-person videos.  For example, if standing more than three to four feet away from another person in the room, it can be difficult to hear that person speak.  A solution to this, however, one in which I have yet to try, is to grab the other person’s audio from an external recording device then overlay it on the video and audio recorded through Google Glass.

First-person video tour