We have officially launched our revised and updated Brickell condos page. It went live earlier this week but a few minor kinks had to be worked out before I wanted to make the announcement. Around 90% of our business comes from non-locals so, first and foremost, I wanted to create a page which catered to those who are unfamiliar with the area. Our new neighborhood page is loaded with fresh content. I included a brief description, geographic and demographic information, as well as a short history lesson about Brickell. It also has a video/picture slideshow which contains over 150 pictures of the neighborhood. A Yelp widget was included as well to give people a sense for the quality of restaurants and other types of businesses throughout Brickell.
Towards the middle of the page, we have highlighted the five most recent resident reviews for condo buildings in Brickell. We hope that people who currently reside or have resided in one or more of the buildings in the neighborhood will share their experience and assessment with those looking for an unbiased opinion when shopping for a new condo in Brickell.
For those who are used to the old version of the page and wish to skip to the Brickell condos section, click on the “jump to Brickell condos” link found at the top of the page. We have, however, modified the way this section is organized. Now, not only can you get a quick glance at the inventory counts for each building but you can also see how many short sales and REOs are currently available for sale on the MLS. As you will see, a majority of the condo buildings in Brickell do not have any short sales or REOs on the market for sale. In fact, excluding the three pre-construction condo developments, two-thirds of them (20/30) do not have any distressed sales at all. That is pretty remarkable given how bad things were just a few years ago.
Perhaps the greatest new addition to the Brickell condos page is the statistics box in the upper right-hand corner just above the video. Towards the middle of each month, we will begin posting various neighborhood statistics calculated using sales figures as of the last day from the previous month. The reason why we wait a few weeks is because real estate agents tend to forget to change the status of a property from pending to sold in the MLS after it closes. Only sales figures for condo developments in Brickell that are found on the page will be incorporated. Think of it as a mini Brickell Condo Index. Expect the first update to be released around the middle of September.
Considering my day-to-day responsibilities as a real estate agent and the amount of time I already put into the website, my hope is to roll out a new neighborhood page every 2-3 months. I would appreciate any feedback that you might have so that these neighborhood pages will continue to evolve and get better with time.
100 Montaditos Brickell Location Coming Soon
This past February, 100 Montaditos opened its first location in the United States. It chose Midtown Miami as the spot in which to introduce itself to America. The restaurant, known for its tapa-sized bread roll sandwiches, has since opened five other locations – all in South Florida – including one at the base of 50 BiscayneVizcayne in Downtown Miami. It now looks to expand once again by opening a seventh location – this time in Brickell – at the former site of Deli Lane. Admittedly, I have not had the chance to try 100 Montaditos for myself but I have heard great things and I’m sure its success speaks for itself.
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!
We are in the process of revamping our neighborhood pages. It has been a project that I have kept on the back burner for about two years. The new neighborhood pages are geared towards non-locals and others unfamiliar with the various neighborhoods throughout South Florida. My intent is to provide quality content which will allow people to familiarize themselves with the area and get a sense for what each neighborhood has to offer.
One way in which I hope to educate these people is visually. The above video/picture slideshow is one such example. (I suggest changing the quality setting to 1080p HD and switching to full screen mode when viewing the video.) My goal when taking these pictures was to provide those unacquainted with the area the type of scenic tour one would receive if walking the neighborhood by foot. I also included some amazing shots that were taken from a boat that we rented as well as others that were taken from various high-rise buildings throughout Brickell. I thoroughly enjoyed working on this project and it made me fall in love with Brickell all over again. Brickell is truly a beautiful neighborhood and one which seems to keep getting better with time.
Creating the content for each neighborhood page is very time consuming so we are going to roll out each neighborhood one at a time starting with Brickell. We hope to have the Brickell neighborhood page launched early next week then move on from there. We are also working on a few other website enhancements which should go live later this week. I will discuss those at a later time.
MyBrickell Construction Update
I had a chance to walk by the myBrickell construction site this afternoon. 3 floors down, 25 more to go.
1101 Brickell Has Been Approved; Construction to Start by Year’s End
An 80-story condo development called 1101 Brickell has been approved by the City of Miami and will be spearheaded by Florida East Coast Realty. The announcement was made by President Tibor Hollo in an interview with Miami Today News. Hollo expects construction to begin by year’s end. 1101 Brickell, which will rise 849 feet, will become the tallest building in Miami, a title now held by the Four Seasons Residences. The development will have 724 residential units and is estimated to cost $500M-$600M.
Florida East Coast Realty is the development team behind several unforgettable residential towers in Miami such as Opera Tower, The Club at Brickell Bay, Bay Parc Plaza, Venetia Condo and The Grand. 1101 Brickell will no doubt be just as memorable.
For the second time this year, a condo development in Brickell has broken ground. A ceremony was held this morning at the development site of BrickellHouse to celebrate the start of construction. BrickellHouse will be a 46-story, luxury condo development located at 1300 Brickell Bay Drive, across the street from Jade at Brickell Bay. The amenities will include a rooftop pool on the 46th floor, a luxury health spa and fitness center and a fully-automated robotic parking garage. Prior to breaking ground, BrickellHouse already had over 95 percent of the 374 total units pre-sold. I was told by a sales associate that, as of yesterday, only 15 units remain. The available inventory includes a few penthouses as well as other units located on high floors. BrickellHouse is scheduled for completion in 2014.
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.
Paramount Bay and Brickell House Hit 60%
I discovered yesterday afternoon that Paramount Bay now has 60% of its total units either sold or under contract. That’s quite an accomplishment seeing that it was only four months ago that sales were launched. The penthouse units at Paramount Bay have all been sold. The next most popular unit has been the 02 line which is a 3 bedroom/3.5 bath condo with 2,353 interior square feet. That’s the largest non-penthouse floor plan at Paramount Bay. Only 3 of those units remain.
For those unfamiliar with the development, Paramount Bay is an all-glass, luxury, waterfront condo development located at 2066 North Bayshore Drive in the Arts District of Miami. The vast majority of the condos at Paramount Bay have a direct water view. A number of great units still remain so don’t hesitate to contact us if you have an interest in touring the building and viewing any current availability that interests you. Paramount Bay is a very high-end, exclusive building and will be a perennial favorite for years to come.
Brickell House, which began accepting pre-construction reservations in October, has 60% of its 374 total units under contract as of last week. The 46-story, luxury condo development will be located at 1300 Brickell Bay Drive across the street from Jade. Sieger Suerez was contracted to serve as the development’s design architect while Yabu Pushelberg and Artefacto will oversee interior design components. To learn more about this pre-construction development, please download the Brickell House brochure or feel free to contact us with any questions that you might have.
These type of success stories demonstrate the current level of demand for new condos in Miami. It’s no wonder that new condo developments are expected to soon be announced.
