Miami Condo Investments’ Most Popular Buildings in Greater Downtown Miami
I thought about doing a TBT post today, but then changed my mind. There is so much going on in today’s real estate market, why talk about the past? New buildings are opening every month, people are curious about how these new buildings compare to the ones that were new in years past. So which buildings are currently the most popular by condo shoppers?
I took a look through our Google Analytics report to see what our readers are looking at the most. In the time period from May 14, 2017-June 14, 2017, MiamiCondoInvestments.com received a total of nearly 73,000 page views. Of those, here are the ten most viewed building pages. This list does not include views of individual listings, just of the building pages themselves, where you can find inventory lists, market statistics and closed sale/rental data.
1 – SLS Brickell – 1,219 views
It makes sense that SLS Brickell would take the number one spot with an overwhelming lead. The project was very much anticipated by future tenants, owners and pool-party-goers alike. Move-ins began in late December/early January and have moved on at a rapid pace, leaving the building almost at full occupancy now, with demand still strong. Our agents alone have handed out 16 sets of keys in the building, with a healthy book of buyers and prospective tenants still shopping.
2 – Reach at Brickell City Centre – 731 views
I would have been surprised if Brickell City Centre didn’t make this list! This project was the catalyst that fueled the buying craze in Brickell over recent years and reinvigorates the neighborhood that was once a dense yet sleepy enclave of beautiful high rises that became quiet at night. Reach was the first residential tower to open in Brickell City Centre, and is also approaching occupancy. When the project initially opened, one bedrooms started at $2,400-$2,450/month, but now have risen to $2,650/month.
3 – Brickell Heights East – 715 views
The newest new building on the block also made the list, and no surprise there. Our photo tour of Brickell Heights just days before they opened was one of the most popular blog posts so far this year, and the amount of calls we get for it is a very good sign that the initial occupancy of the building will go smoothly.
4 – 1100 Millecento – 700 views
Millecento’s place as number 4 on the list was a bit more surprising, but not in a bad way. It’s not the newest building in the area, so people aren’t hungry for a preview. There’s really no drama going on with the building (that I have heard of at this time), so people aren’t looking for gossip and info. We still receive a healthy amount of calls and contact requests on Millecento, so I feel it’s safe to say that the traffic is good ol’ prospective residents. That’s great!
5 – Biscayne Beach – 638 views
Edgewater’s newest new building is also on the charts. We covered the progress & opening extensively, so it makes sense that blog readers are interested in the progress. We also have a beautiful 3 bedroom unit listed on the 30th floor with direct bay and Downtown Miami views. It is well-priced and a blank canvas inside. With the amount of attention the building receives, I feel that it will sell quickly.
6 – The Bond on Brickell – 615 views
The Bond is very popular for people who want to live in a brand-new condo in Brickell, but prefer understated elegance and high quality finishes over the kitschy excess that is SLS Brickell. We receive many calls about this building, and there have also been many of our clients who have called about SLS Brickell but then chosen The Bond. It is like SLS Brickell’s quieter sister.
7 – The Plaza at Brickell East Tower – 531 views
The Plaza is basically a Brickell staple. I was surprised that it received more views than any of the IconBrickell towers, but that just shows what the market is interested in. We did a market report on Monday about The Plaza and found that sellers and landlords fare better in today’s market by removing that horrible outdated berber carpet from 2008. There is too much competition in the neighborhood to expect buyers and tenants to sign up for old berber carpet (in case I didn’t make my point on Monday).
8 – BrickellHouse – 530 views
Despite their garage saga, BrickellHouse remains a popular building in the neighborhood. Yes, the garage is broken. No, we don’t know when it will be fixed. Despite that, the finishes are quite lovely, the views and location are great and it remains very popular among our clients.
9 – IconBrickell Tower 1 – 477 views
Of course IconBrickell would be on the list. It has remained one of our most requested buildings since it opened… even since the pool closed. The pool should reopen by the end of the year.
10 – Jade Residences at Brickell Bay – 468 views
Jade is one of the most luxurious buildings in the neighborhood, even after 13 years. Although most buildings in Brickell have beautiful bay views, Jade is where you go if you want an extremely luxurious setting with private elevators and direct bayfront. The only building it competes with is the Santa Maria, except that Jade is more modern and in a more walkable section of the neighborhood.
Do you think that the top viewed buildings on our website are surprising, or expected?
2 Bedroom Corner Unit at 1100 Millecento – Asking $712,000
Yesterday, while visiting 1100 Millecento, I was able to tour a 2 bedroom corner unit located on the northeast corner of the building (the 10 line). The 2 bed, 2 bath condo has 1,245 interior square feet and a 5-foot deep balcony totaling 187 square feet. The unit comes completely finished with white porcelain tile in the living areas, carpet in both bedrooms, built-in closet in the master bedroom, and shades on all windows. If you are curious to see the finishes and views that 1100 Millecento has to offer, be sure to check out the video below. Currently, this is the only 2 bedroom unit being offered for sale on the MLS, although I’m sure that will change in the weeks and months ahead as more people close on their units and build-outs are completed. Asking price is $712,000, or $572 per square foot.
Sweeping Panoramic Views from the Rooftop Pool Deck of Millecento Residences [VIDEO]
Yesterday afternoon, I visited Millecento Residences for the second time within the past week. Both times I got the opportunity to visit my favorite part of the building – the rooftop pool deck located on the 43rd floor. The sweeping panoramic views from up there are jaw-dropping to say the least. From that vantage point, one is able to gain a true appreciation for the incredible transformation that is currently taking place throughout Brickell. I stood there on that rooftop pool deck yesterday truly grateful for being a part of this city at this particular moment in time. Change can be a beautiful thing, but to see it happening in all directions is magical. Don’t take my word for it though. Watch the video below and see for yourself. I shot the video at 4K resolution. If you are able to do so, I highly suggest that you watch the video at max resolution. It’s almost like you’re there. Technology is a wonderful thing!
Brickell Condo Tour and Construction Update [VIDEO] – February 14, 2015
It has been about four months since my last video tour covering the fast-paced development taking place in Brickell. Since then, a lot has happened, so I figured it was time to get back out on the road and provide everyone with another update. As you will see, this video is much more comprehensive, covering not only current and future construction, but also existing condo developments for those who may be unfamiliar or newly acquainted with the Brickell condo market. In the video, I even highlighted two, large commercial properties in Brickell which recently traded hands – the SunTrust building located at 777 Brickell Avenue, which sold earlier this week for $140M, and the former Capital at Brickell site located at 1420 South Miami Avenue, which was acquired this past December for $74.74M by CCCC International USA LLC, a subsidiary of Beijing’s China City Construction and American Da Tang Group of New York.
Brickell Construction Update – October 22, 2014 [video]
Development throughout Brickell is happening at such a rapid pace. Despite living in the area, and showing condos in Brickell on a regular basis, I am still in awe by all of the construction when making my way around the neighborhood. I realize that many of the people who visit my website are not local to Miami and, therefore, are not able to see Brickell’s amazing transformation with their own eyes. It is for this reason that I decided yesterday afternoon to produce a guided video tour of the construction that is taking place throughout the central part of Brickell – primarily around Brickell City Centre and Mary Brickell Village. Included in the video are the following condo developments which are currently either under construction or are in their pre-construction phase: Brickell City Centre (Rise and Reach towers), SLS Lux, The Bond at 1080 Brickell, Brickell Flatiron, and 1100 Millecento.
Brickell Condo Market Expected to Remain Strong Throughout 2013 and 2014
As of late, little has been said about the fact that myBrickell and 1100 Millecento are completely out of inventory. With the exception of two very large penthouses, the same goes for BrickellHouse. Take a moment to digest that piece of news. Of the 948 combined units that these three developments represent, only two remain available. That speaks volumes about the strength of this real estate market in Miami. 192 units at myBrickell are scheduled for delivery towards the end of this year and the balance of condos from the two other developments are not expected until the end of 2014. In the meantime, demand remains high so existing condo inventory should continue to dwindle. There isn’t much help on the way in near term either. We know that there will be a residential aspect to the highly anticipated Brickell Citicentre, which is currently under construction, but no sales information has been released as of yet. Regardless, completion of those condominiums would not be expected until 2015 at the earliest. We also know that Related Group recently purchased the Infinity II site located at 1300 S Miami Avenue. It is highly likely that sales for condominiums in that project will be announced sometime during the first half of this year. The site is approved for a 65-story tower with 556 total units so don’t expect those units to be delivered any earlier than mid-2015 unless the project is massively scaled back. Lastly, there has also been mention of Panorama Tower and Villa Magna but both projects will be rather massive so inventory in either wouldn’t be expected until late-2015. In summary, I think it is relatively safe to say that, barring any global economic meltdown, prices for condominiums in Brickell should enjoy a steady rise throughout 2013 and 2014 given the lack of inventory that will exist over the course of that time period.
By the way, the two remaining penthouses at BrickellHouse are priced at $2,396,000 for 3,500 interior square feet and $5,200,000 for 7,500 interior square feet. No matter how you slice it, sub-$700 per square foot for a penthouse in a building of this caliber is an amazing deal.
1100 Millecento, BrickellHouse and myBrickell on the Brink of Selling Out
I realize that I run the risk of sounding like your typical salesman, but it must be said – “This market is hot!”. Over the past nine months in Brickell, three pre-construction condo developments – 1100 Millecento, BrickellHouse and myBrickell – were launched. I was made aware yesterday afternoon that only 20 units remain available for sale amongst these three developments combined! That represents 2.1% of their combined 948 total units. Only two units remain at 1100 Millecento, 8 at BrickellHouse and 10 at myBrickell. The first two projects haven’t even broken grounded yet. If that’s not hot then I don’t know what is. Before anyone starts to chime in with bubble talk, we need to keep in mind that all three pre-construction developments require a very large portion of the purchase price to be paid long before closing. In the case of 1100 Millecento the buyer will have already paid 50% of the purchase price by closing. BrickellHouse and myBrickell are virtually immune from default risk with the buyer required to pay 70% and 80% of the purchase price, respectively, by closing. Like I said – This market is hot!
MyBrickell and Millecento Pre-construction Sales Update
Pre-construction sales at MyBrickell and 1100 Millecento have been remarkably strong this year. MyBrickell, which broke ground about a month and a half ago, has only 11 of 192 units remaining. Completion is slated for the end of 2013. Millecento has been even more impressive. Millecento should be completely sold out long before groundbreaking. Only 13 of 382 units remain and groundbreaking is not expected to take place until October. Delivery is scheduled for November 2014.
Contact us if you have an interest in reserving one of the last available units at MyBrickell or Millecento.
The Related Group announces Pre-construction Sales for 1100 Millecento Residences
The Related Group has formally announced plans to develop a 42-story tower called 1100 Millecento Residences. The 382-unit development will be located in Brickell at 1100 South Miami Avenue, just steps from Mary Brickell Village and the upcoming 4 million square foot Brickell Citicentre. Carlos Ott, an internationally recognized architect who designed Jade Beach and Jade Ocean, will be the architect of 1100 Millecento Residences. The interiors will be done by Pininfarina, the legendary designers behind the avant-garde designs of Ferrari, Maserati and Rolls-Royce. Amenities at 1100 Millecento Residences include a 9th floor elevated pool deck with a club room, state-of-the-art fitness center, private theater and 42nd floor rooftop infinity pool with private cabanas.
The building will feature studios, 1 bedrooms, 1 bedroom + den units and 2 bedrooms. Reservations are now being accepted with the following price ranges in mind:
Studios from $226,000-$290,000
One Bedrooms from $286,000-$390,000
One Bedroom + Den units from $326,000-$440,000
Two Bedrooms/1 Bath units from $347,000-$490,000
Two Bedrooms/2 Bath units from $397,000-$550,000
Two Bedrooms/2 Bath + den units from $415,000-$550,000
The deposit structure for 1100 Millecento Residences is as follows:
10% of purchase price at reservation
10% of purchase price at contract (expected to be in June 2012)
15% of purchase price at groundbreaking (expected to be at the end of 2012)
15% of purchase price at top-off (expected to be at the end of 2013)
Balance due at closing (expected to be at the end of 2014)
Contact us if you have any questions about 1100 Millecento Residences or if you would to reserve a unit.
Additional Renderings of 1100 Millecento Residences
I came across two additional renderings of 1100 Millecento Residences while surfing the Internet which I decided to share. The one above is a nighttime shot of 1100 Millecento Residences as seen from the intersection of Southeast 9 Street and South Miami Avenue at Mary Brickell Village. I’m quite pleased with the amount of air space that resides between 1100 Millecento Residences and the north tower of Axis. I was concerned that the 19 and 20 lines at Axis would be looking directly into the west side of 1100 Millecento Residences and have their view completely obstructed. That doesn’t seem to be the case if the rendering above is accurate.
The second rendering is of an east facing unit at 1100 Millecento Residences which would provide you with an amazing view of the Brickell skyline as well as an obstructed view of Biscayne Bay. The rendering indicates that the kitchens will be outfitted with Italian wood cabinetry, limestone counter tops and a Subzero refrigerator. Unit details have to be released, however.
I also learned that 1100 Millecento Residences will have a 9th floor elevated pool deck with a club room, a state-of-the-art fitness center, private theater and 42nd floor rooftop infinity edge pool with private cabanas. To put into perspective the type of view one might get from the 42nd floor, think 500 Brickell. 500 Brickell also has a 42nd floor rooftop pool.
Pre-construction sales for 1100 Millecento Residences have not yet begun but prices are expected to start at $350 per square foot.
