Developers Offering Year-End Incentives to Close Out Projects
In an effort to hold the attention of buyers and sell as many apartments as possible before the end of 2015 developers are coming out with attractive incentives packages to help buyers decide to act now and close out their projects Here are some of our favorite incentives from buildings that are currently under construction and selling pre construction residences
Brickell Heights Related has lowered the down payment requirement to 30 from the original 50 Prices of remaining inventory start in the $400000s
SLS Lux All of the condohotel apartments are currently under contract but the developer is offering upgraded kitchens on the remaining condo residences and 30 down payment The penthouse collection has recently been released and sales are almost finished Prices start in the $600000s for the remaining units
Paraiso Bayviews All four towers of the Paraiso development are currently under construction and Paraiso Bayviews is 95 sold For select apartments the developer is offering a finishes package with porcelain flooring throughout The prices currently start in the mid $500000s up to the high $600000s and penthouses are priced between $639900 to $175MM The developer has not officially offered deposit flexibility but has indicated that it is possible on a case by case basis
Hyde Midtown The construction of Hyde Midtown has only just started in recent months but close out is fast approaching Prices on remaining inventory start in the $400000s and the sales team has offered some flexibility on the 30 down payment on a case by case basis
We were very happy to see these flexible down payment options as it will make new condo purchases more accessible to those who hope to live in the apartments The incentives also help to allow for the possibility of financing the condo purchases which many people have inquired about yet been unable to easily attain until now
Let us know if you or someone you know is interested in more information on these or other developments We will have team members in Miami during all of the holidays and until the end of the year to help visitors by appointment
Brickell Investor Opportunity: 2 Bedroom Under $500k
From time to time we like to talk about deals that we see that are particularly interesting for one reason or another, and this is a very interesting investment deal. Brickell condo investments typically see around a 3% return for existing purchases (after expenses such as taxes and homeowners fees are subtracted) and 2 bedroom properties under $500,000 are becoming more and more difficult to find.
This listing at the Vue at Brickell is a standout in our book at only $449,000 with two parking spaces, full renovations and fully furnished. The building is located at 1250 S Miami Avenue, so is walking distance to practically everything in Brickell, the “official walk score” by walkscore.com is listed as 97. Despite being able to walk almost everywhere, this apartment comes with 2 parking spaces rather than the typical single space. The building was built in 2005 and was recently renovated, offering a new lobby, refreshed gym and pool area. The condo management is in good standing, managing to keep the HOA fees at only $675/month, which is significantly lower than competing buildings in the neighborhood.
Inside the apartment, the kitchen and bathrooms have been updated and the apartment is being offered turnkey furnished (linens, artwork and electronics included). The kitchen offers new stainless appliances including a wine cooler as well as quartz countertops and new cabinets. Both bathrooms have new vanities, countertops, sinks and light fixtures. The balcony has a wonderful view of the city lights as well as the Biscayne Bay.
Considering this apartment were to be rented today, an investor could reasonably expect $2,800/month in income. If you reduce the real estate taxes and HOA fees, it would leave a return of 4.5% as soon as the tenant takes place! If you or someone you know is interested, just reach out and we are happy to set up a tour.
IconBrickell Pool To Close For 12 to 14 Months
Residents of IconBrickell and the Viceroy Hotel (W Hotel) are in for a hot and dry summer, as their famed pool deck will be closed for renovations/repair. Our sources have confirmed that the Icon Brickell pool closing is expected to begin around February 2016 and the work is estimated to be completed in 12 to 14 months.
It has been reported that the Icon Brickell pool renovations will include re-tiling of the pool deck for safety reasons (because the tiles used by the developer are too slippery for use on a pool deck). Others have reported that leaks in the pool have caused damage to the spa and gym below; however, the management office has not cited at this time the exact reason for the closing.
IconBrickell opened in 2008 to rave reviews but few sales due to the economic downturn. The amenities in particular won awards and accolades for their grandiose, superb quality and design. Developed by Related Group, Arquitectonica was chosen as the architecture firm and Philippe Starck handled the interior design. IconBrickell was among the first condo developments to rebound from the economic downturn in Miami. Average sale prices for the second quarter of 2015 have been reported at $583 per square foot for the three towers or $796,000 and rentals have averaged $3,150 per month for the same period.
The pool closing at Icon Brickell has been well known among residents and the real estate community for several months. As such, listings at Icon Brickell have already begun to price in the negative impact that the pool closing is expected to have.
SoMa at Brickell Opens
SOMA at Brickell, formerly known as The Edge at Brickell, opened to new tenants this week after beginning construction early in 2014.
SOMA at Brickell offers a rare mid-rise option to Brickell’s rental market with 8 floors and 418 apartment residences. The apartments range in size from 514 to 1,102 square feet in the studio, 1 bedroom, and 2 bedroom floor plans. All residences at Soma Brickell feature stainless steel appliances, granite countertops, and in-unit washer/dryer.
SOMA at Brickell is located in Southwest Brickell at 145 SW 13th Street. It’s a 2.4-acre site directly across the street from a Publix grocery store as well as walking distance to both the Downtown area Metro Mover and the Metrorail’s Brickell Station. This location makes for a seamless commute for SOMA Brickell residents to popular locations such as the University of Miami, Jackson Memorial, and Dadeland areas. Additionally, shops, cafes, and bars at Mary Brickell Village and Brickell City Centre are within walking distance of SOMA Brickell.
The amenities at Soma at Brickell include a cyber cafe, rooftop lounge area with cabanas and grills, fitness center with yoga studio, screening room, sports court and club room with a catering kitchen and billiard. The 8-story parking garage at SOMA Brickell includes charging stations for electric cars.
The building management at SOMA Brickell is offering quick move-in with prices starting at $1,695 for studios, $1,800 for 1 bedroom plans, and $2,375 for 2 bedroom plans. Contact us today to arrange a tour and to check current availability.
Just Listed – 2 Bedroom Corner Unit at The Plaza on Brickell with Direct Water Views – Asking $825,000
I am pleased to announce my newest listing – unit 3211 at The Plaza on Brickell – a 2 bedroom, 2.5 bath corner unit with breathtaking views of Biscayne Bay, Brickell Key, and Key Biscayne. This is an 11 line unit located on the 32nd floor of the Brickell Bay tower, arguably the best line in the entire development. Most importantly, the unit clears the Four Ambassadors across the street by 12 floors, allowing for direct water views. As one would expect, units that clear the Four Ambassadors sell at a big premium to those that do no. Last September, unit 3411 – just two floors directly above unit 3211 – sold for $850,000. That unit was sold furnished with marble flooring throughout. Priced to sell, unit 3211 is being offered for $825,000.
The Plaza on Brickell is centrally located, just blocks from the shops, restaurants, and bars at Mary Brickell Village and the upcoming $1.2B mixed-use development called Brickell City Centre. Amenities at The Plaza on Brickell include: two swimming pools, hot tub, steam room, two fitness centers, 24-hour concierge, 24-hour valet parking, club room, theater, and more.
Vue at Brickell Unit 2306 Video Tour – Asking $479,000
Keep an eye out for more video tours in the weeks and months ahead. This is a service that I now provide to all customers who list their property with me. Yes, even for rentals! All videos are shot in 4K, also known as Ultra HD, which allows for an immersive, life-like experience for the viewer. If you have an interest in listing your property for sale or rent, please contact me. I can be reached via email at [email protected] or on my cell phone at 786-247-6332.
Just Listed – Beautifully Designed, Turnkey Furnished 2 Bedroom Condo in the Heart of Brickell – Asking $479,000
Just Listed For Sale – a beautifully designed, 2 bed/2 bath condo in the heart of Brickell with 1,143 interior square feet. Offered TURNKEY complete with furniture, electronics, dishware, linens, artwork, and more. Kitchen and both bathrooms renovated. Fabulous, direct views of Biscayne Bay and the Brickell skyline. Tandem parking space included (parks 2 cars). Tons of restaurants, cafes, shops, and nightlife at your doorstep and/or within walking distance. Low monthly condo dues! Only $675 per month – includes basic cable TV, high-speed Internet, and water! Ideal property for investment.
Located at Vue at Brickell – 1250 South Miami Avenue, Miami, FL 33130. Building amenities include: pool, concierge, fitness center, and valet parking. Pool, lobby, and fitness center recently renovated. Just blocks from Mary Brickell Village and the upcoming $1.2B mixed-use development called Brickell City Centre. Asking $479,000. For showings and/or questions, please contact me via email at [email protected] or on my cell phone at 786-247-6332.
SLS Brickell Hotel & Residences Construction Update [PHOTOS]
Earlier today, I showed a client a number of east-facing units at Infinity at Brickell. This gave me the perfect opportunity to check in on the progress being made to SLS Brickell Hotel & Residences. As of today, construction had reached approximately the 27th floor. I must admit, when SLS Brickell was initially announced, I thought the views from the east-facing units at Infinity at Brickell would be completely destroyed. To my surprise, although the two buildings butt up against one another, there’s actually a lot of room separating the actual residences. Basically, the two developments are separated by their respective pool decks. Although views directly to the east will be blocked from Infinity at Brickell, the space between the two buildings allows for residents to enjoy the views to the north and south. Besides, let’s not kid ourselves, the view of the SLS Brickell pool deck is going to be breathtaking in its own right.
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.
