Short-Sale @ Courvoisier Courts in Brickell Key

June 2, 2007

There’s a 2 bedroom/2 bathroom short-sale opportunity at Courvoiser Courts located in the exclusive neighborhood of Brickell Key. The condo has 1,236 square feet of living space and a 95 square foot balcony. The condo, located on the 24th floor, faces northeast and has partial bay views from the balcony. It is the best priced 2 bedroom in the building at a list price of $450,000, or $364 per square foot. There’s a 2/2 currently available at Courvoisier Courts in the same line as the short-sale unit that is listed at $499,000. It is located 7 floors lower. There’s another available condo located 14 floors lower that is listed at $529,000.

Courvoisier Courts was converted from apartments to condominiums at the beginning of 2006. The building was originally built in 1997. Courvoisier Courts offers fantastic amenities which includes: full-service concierge, 24-hour security, fully equipped business center, bi-level fitness center, racquetball/squash courts, bayside swimming pool and sundeck, club room with billiards table, theater room, and valet parking. Courvoisier Courts has a total of 272 condo units in the building. The picture slideshow below will show you some pictures of the building and amenities at Courvoisier Courts.

Because Courvoisier Courts is such a recent conversion, there aren’t many 2 bedroom resales to use as comparables. There is one closed sale and two pending sales. The closed sale is not an adequate comparable, however, because it is a penthouse unit with 13 foot ceilings and has great water views. That unit sold for $568 per square foot. The two pending sales are better comparables but still need to be adjusted because of the bay view offered by those two condo units and the extra half bath. Those condo units were listed for $555,000 and $575,000 before an offer was accepted, or $441 and $446 per square foot, respectively.For those of you who don’t know, Brickell Key is a 44-acre triangle-shaped island situated just east of the heart of Brickell. It is well known for being a highly exclusive neighborhood with brick-paved roads and is home to the world famous Mandarin Oriental Hotel.

Contact me for more information regarding this short-sale.