Just Listed: Furnished 2 Bed/2.5 Bath at Blue Condo with Picturesque Sunset Views – $2,900/mo
UPDATE: Pending rental. Under contract in only 12 days!
The 01 line condo at Blue Condo offers bay, city and breathtaking sunset views. Yesterday, I listed a beautifully furnished 01 line there on the 18th floor. It has 1,449 interior square feet, floor-to-ceiling windows, tiled floors in the living room, carpet in both bedrooms, built-in closets, stainless steel appliances, window shades and a front-loading washer and dryer. One assigned parking space and a storage unit are included. The amenities at Blue Condo include: two swimming pools, hot tub, fitness center, BBQ area, club room, business center, concierge, security and valet parking. Most importantly, the building is within walking distance to the shops and restaurants at Midtown Miami and only a five minute drive to South Beach.
Asking price is $2,900 per month. Contact me if you have an interest in renting unit 1801 at Blue Condominium. I may be reached on my cell at 786-247-6332 or via email at [email protected].
Top 5 Distressed Condo Sales Closed in October 2010
Below, you will find what I believe to be the five best condo deals of the 71 distressed condo sales that closed in October 2010 in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District. This should give everyone a good idea of the kind of deals that can be obtained in the Miami condo market at this time. Of the 71 distressed condo sales that closed last month, 39 were REOs and 32 were short sales. I feel it’s important to note that 25 of the 39 REOs sold at or above asking price. Time and time again, we try to emphasize to clients that the majority of well priced REOs in condominium buildings of interest will receive multiple offers and sell at or above asking price. It may be difficult to believe but bidding for condo foreclosures in Miami is very competitive. For example, unit 1601 at Solaris at Brickell was a foreclosure that we discussed on one of our video shows in August. The condo was listed for $168,300. At that price, we felt that the condo was grossly under priced. Last month, the condo closed for $230,000, or about 37% above asking price. It’s important to recognize good value when it becomes available and to have the ability to act quickly. As a side note, in the example above, our recommendation at the time to potential buyers was to bid up to $200,000.
Solaris at Brickell #1204 – 2 bedroom/2 bath (1,145 square feet) – This unit sold for $165,100, or $144 per square foot, on October 21, 2010. REO
Brickell on the River North Tower #3417 – 2 bedroom/2 bath (1,157 square feet) – This unit sold for $215,000, or $186 per square foot, on October 1, 2010. Foreclosure
Blue Condominium #2004 – 2 bedroom/2.5 bath (1,158 square feet) – This unit sold for $180,000, or $155 per square foot, on October 8, 2010. Foreclosure
Neo Vertika #2519 – 2 bedroom/2 bath (1,113 square feet) – This unit sold for $159,000, or $143 per square foot, on October 4, 2010. Short Sale
Cite on the Bay #119 – 2 bedroom/1.5 bath (980 square feet) – This unit sold for $136,000 or $139 per square foot, on October 20, 2010. Short Sale
Four Great Condo Foreclosure Deals on the Market Now
In this video segment, we highlight four condo foreclosure deals that are available at this time. These condos reside at 900 Biscayne Bay, Blue Condominium, The Club at Brickell Bay and Icon South Beach. Give us a call at 305-428-3860 if you would like to learn more about these opportunities or other foreclosure deals now on the market.
Special Approval Designation List for Miami-Dade Condo Developments
Below, you will find a list of condo developments in Miami-Dade County that have already received the special approval designation by Fannie Mae. The following are some of the larger and more widely recognized buildings. Lenders will now be able to originate and deliver mortgage loans to Fannie Mae in these condo developments.
A 2 bedroom foreclosure condo at Blue Condominium closed earlier this afternoon for $190,000. This marks the lowest that a 2 bedroom in the building has ever sold. Unit 1207 has 1,158 square feet of interior space and a view of Biscayne Bay. It originally went under contract on August 10, 2009 but the closing was delayed for months due to problems that needed to be corrected with the deed. Currently, there are twenty 2 bedroom short sales at Blue Condominium, two of which are listed for less than $190K. Hopefully this recent sale will give banks the kick in the butt to start approving some of the short sales in the building.
Top 5 Distressed Condo Sales Closed in September 2009
Below, you will find what I believe to be the five best condo deals of the 53 distressed sales that closed in the month of September in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District. It was tough to decide between the first two for the number one spot but The Mark on Brickell #1608 took it based on location and view.
The Mark on Brickell #1608 – 2 bedroom/2 bath (1,140 square feet) – This unit sold for $210,000, or $184 per square foot, on September 18, 2009. Short Sale
Blue Condominium #1701 – 2 bedroom/2.5 bath (1,449 square feet) – This unit sold for $210,000, or $145 per square foot, on September 10, 2009. Foreclosure
Brickell on the River North #3715 – 3 bedroom/2.5 bath (1,512 square feet) – This unit sold for $287,000, or $190 per square foot, on September 4, 2009. Short Sale
Jade Brickell #1201 – 2 bedroom/2.5 bath (1,878 square feet) – This unit sold for $675,000, or $359 per square foot, on September 30, 2009. Foreclosure
Marina Blue #2302 – 1 bedroom/1.5 bath (843 square feet) – This unit sold for $190,000 or $225 per square foot, on September 30, 2009. Short Sale
As a side note, bidding on foreclosures has become extremely competitive. I noticed that the majority of the condo REOs that closed in September closed at a price that was above the asking price. This was the case in 19 of the 26 REO listings that closed last month located in the aforementioned neighborhoods of Miami. It has become more important than ever to know the comparable sales in the neighborhood. The mentality of automatically going in with a bid 10-15 percent below asking price doesn’t fly anymore. With season right around the corner, I’m confident that the worst is well behind us.
Recently Listed Condo REOs in Miami – August 2009
Earlier this evening, I did a search for condo foreclosures in Miami for a client. There were 9 condos that were recently listed that caught my attention.
Santa Maria #2506 – 2 bedroom/2.5 bath (2,100 square feet of interior) – Asking $899,900, or $429 per square foot – 24 days on the market
Jade Brickell #1201 – 2 bedroom/2.5 bath (1,878 square feet of interior) – Asking $667,900, or $356 per square foot – less than 2 hours on the market
Carbonell #1805 – 2 bedroom/2.5 bath (1,505 square feet of interior) – Asking $525,000, or $349 per square foot – 8 days on the market
Four Seasons Hotel #3203 – 1 bedroom/1.5 bath (983 square feet of interior) – Asking $460,000, or $468 per square foot – 7 days on the market
Emerald at Brickell #1101 – 2 bedroom/2.5 bath (1,594 square feet of interior) – Asking $364,900, or $229 per square foot – 3 days on the market
Blue Condo #1701 – 2 bedroom/2.5 bath (1,449 square feet of interior) – Asking $208,395, or $144 per square foot – 7 days on the market
50 Biscayne #4705 – 1 bedroom/1 bath (845 square feet of interior) – Asking $179,900, or $213 per square foot – 3 days on the market
The Club at Brickell Bay #4304 – 1 bedroom/1 bath (825 square feet of interior) – Asking $119,900, or $145 per square foot – 8 days on the market
1800 Biscayne Plaza #1203 – 2 bedroom/2 bath (1,040 square feet of interior) – Asking $117,590, or $113 per square foot – 8 days on the market
Top 5 Miami Distressed Condo Sales in December 2008
Sorry for the long hiatus. I’m back from my long vacation and ready to get back to work. Below, you will find what I believe to be the five best condo deals of the 36 distressed sales that closed in the month of December in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District.
Four Seasons Residences – unit 3305 – 1 bedroom/1 bath (611 square feet) – This unit sold for $285,000, or $466 per square foot, on December 3, 2008. Foreclosure
Carbonell – unit 701 – 1 bedroom/1.5 bath (1,031 square feet) – This unit sold for $215,000, or $209 per square foot, on December 19, 2008. Foreclosure
Three Tequesta Point – unit 1605 – 2 bedroom/2 bath (1,694 square feet) – This unit sold for $465,000, or $275 per square foot, on December 3, 2008. Foreclosure
Blue Condominium – unit 2310 – 2 bedroom/2 bath (1,174 square feet) – This unit sold for $330,000, or $281 per square foot, on December 1, 2008. Foreclosure
Cite on the Bay – unit 3502 – 3 bedroom/2 bath (1,398 square feet) – This unit sold for $230,000, or $165 per square foot, on December 10, 2008. Short-sale
Top 5 Miami Distressed Condo Sales Closed in November 2008
I found a total of 17 distressed condo sales that closed in the month of November in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District. The following are, in my opinion, the five best deals that took place along with one worth mentioning.
Vue at Brickell – unit 1413 – 1 bedroom/1 bath (737 square feet) – This unit sold for $90,000, or $122 per square foot, on November 18, 2008. Foreclosure
Brickell on the River North – unit 2703 – 1 bedroom/1 bath (775 square feet) – This unit sold for $172,750, or $223 per square foot, on November 19, 2008. Foreclosure
Brickell on the River – unit 3714 – 2 bedroom/2 bath (1,058 square feet) – This unit sold for $255,000, or $241 per square foot, on November 10, 2008. Foreclosure
Skyline on Brickell – unit 1107 – 2 bedroom/2 bath (1,367 square feet) – This unit sold for $349,000, or $255 per square foot, on November 17, 2008. Foreclosure
The Club at Brickell Bay – unit 3524 – 3 bedroom/2 bath (1,232 square feet) – This unit sold for $249,000, or $202 per square foot, on November 4, 2008. Foreclosure
Runner-up: Blue Condo – unit 2504 – 2 bedroom/2.5 bath (1,158 square feet) – This unit sold for $305,000, or $263 per square foot, on November 25, 2008. Foreclosure
Top 5 Miami Distressed Condo Sales Closed in September 2008
I found a total of 25 distressed condo sales that closed in the month of September in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District. The following are, in my opinion, the five best deals that took place. This will hopefully give everyone a sense for where prices are for similar units in these buildings and neighborhoods. This is not an indication of where prices may or may not ultimately settle.
Jade at Brickell – unit 1706 – 1 bedroom/1 bath (895 square feet) – This unit sold for $215,000, or $240 per square foot, on September 5, 2008. Foreclosure
Blue Condominium – unit 3101 – 2 bedroom/2.5 bath (1,651 square feet) – This unit sold for $385,000, or $233 per square foot, on September 16, 2008. Short-sale
Neo Vertika – unit 3119 – 2 bedroom + den/2 bath (1,255 square feet) – This unit sold for $225,000, or $179 per square foot, on September 5, 2008. Foreclosure
Vue at Brickell – unit 2204 – 2 bedroom/2 bath (1,023 square feet) – This unit sold for $173,000, or $169 per square foot, on September 16, 2008. Foreclosure
Parc Lofts – unit 208 – 1 bedroom/1 bath (1,255 square feet) – This unit sold for $220,000, or $174 per square foot, on September 9, 2008. Foreclosure
