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5 Bedroom Penthouse Foreclosure at Imperial at Brickell

May 14, 2010 by Lucas Lechuga

Yesterday afternoon, I had the pleasure of viewing a bank owned 5 bedroom penthouse at Imperial at Brickell.  The two-story condo has 5,034 square feet of interior and is the only residence located on the penthouse level.  Furthermore, the terrace is one of the largest that I’ve seen for a Brickell Avenue condo and has an amazing, direct view of Biscayne Bay, Key Biscayne and the South Beach skyline.  It truly is an entertainer’s dream.

A few days ago, the list price was reduced $300,000 to its current asking price of $1.49M, or $296 per square foot.  The unit needs to be renovated considerably.  In fact, if it were me, I would gut the entire condo and start from scratch.  The condo is perfect for someone who is creative and has the vision to transform this space into one of the most spectacular residences along Brickell Avenue.

Without a doubt, this is a rare opportunity at a great price. Contact us at 305-428-3860 if you have any questions regarding this 5 bedroom penthouse or would like to schedule a personal showing.

Imperial at Brickell was completed in 1983 and is located at 1627 Brickell Avenue.

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8 Comments on "5 Bedroom Penthouse Foreclosure at Imperial at Brickell"

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why bother
You guys should somehow find away to separate a sales advt. like this post and a newsworthy post like Icon below. People are less likely to comment in a post that looks openly like a sales ad. I know you have a great platform that you took 3 years to build and you are trying to maximize the exposure for the units you want to sell. But it is also a kill joy. sales pitch on Individual units should be mentioned in condo deals and do remind the readers once in a while to check that link when you have… Read more »

Nice unit. Great terrace.

There are some things in life I don’t understand: if one can initially afford this type of unit, why not spend the cash to upgrade a kitchen at some point during the life of the unit. Seriously, that kitchen is from 1983 and hasn’t changed since.

why bother, I hear what you’re saying but I like these posts for what they are. We get a little history and get to see some pics of some pretty cool condos that we might not even know existed save for these posts. I mean after all, Lucas maintains this site as part of his business, which is selling real estate. As for this particular condo, looks cool. Aside from drastically needing an update from its ’80’s coke-dealer chic’ interior, its pretty impressive. My only gripe would be the lack of mostly glass walls that we’ve come to expect in… Read more »

I think it is still overpriced. It would cost $1 million to upgrade this space, and it’s an old building.

Regarding the videos, nice touch but if I may offer a few suggestions- the music tracks should be more upbeat, less somber. Also, the videos could show all the relevant images in half the time. We grew up on 30 second commercials- your 3 minute video is too long.

why bother

DJ, I agree. Maybe these individual condo sale infomercials once a while ( not more than 1 in every 3 posts) is ok I guess as long as they do not out number regular posts. Any more than that, there is a danger of the blog becoming a sales pitch platform which could turn a few people off.
BillP, Youtube only gives you a choice of a few tunes that should closely match the length of the video. The choices are very limited.

The unit seems interesting but I’m skeptical on the 5,034 sq/ft interior space being accurate. 5,000 sq ft houses are usually 7/5 or 6/4 while this Penthouse is a 5/3. Anyway, let’s do some very rough numbers for the heck of it. Let’s say the bank comes down another 100K and you can get it for $1.39 mill. And let’s also assume you could get a loan putting $200K down. (I know this ain’t happening, but just trying to get some rough numbers here). 1.19 Mill 30yr @ 5% is. $6,390/month. So: $6,390 monthly note $3,466 HOA $2,029 Monthly taxes… Read more »

why bother,

you should be reminded that Lucas is a realtor. having said this, he does alot of legwork to bring up some info that is unbiased, but ultimately, he has to make transactions – ultimately, he has to gain the confidence of his clients but i doubt he works pro bono all the time.

Interesting article from the Miami Herald: Downtown condo deals cut into beach-area sales BY HANNAH SAMPSON Dennis and Rowena Bennett were set on moving to South Florida from St. Louis. And they thought they knew exactly where they wanted to buy. My wife was totally, totally set on a beach property,” said Bennett, a patent attorney. She said: `Don’t even show me something that’s not on the beach.’ ” But then they saw the ICON Brickell building in downtown Miami. By the end of January, the Bennetts were sold — and the two-bedroom, two-bathroom condo was theirs. It’s a tale… Read more »

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