900 Biscayne Bay – Sneak Peak at a Luxury Miami Preconstruction Condo Building – Pictures & Video
Last week I was afforded the opportunity to walk through an almost finished townhouse unit at 900 Biscayne Bay. It was priced, from the developer, at around $945,000 (I don’t remember the exact figure but it is very close, if not exact). The pictures and the short video clip that I shot of the unit are found below.
First, let me provide a little background.
Last weekend an out-of-state couple contacted me to find them a luxury second-home condo. They wanted a great deal but didn’t want to skimp on quality or views. They wanted to buy into a luxury condo building that was either brand new or one that was relatively new or recently remodeled that offered luxury finishes, amenities and views.
In one short day, most of which was scheduled on a 1-2 hour notice, I was able to show them a unit at Jade Brickell, Emerald at Brickell, Imperial at Brickell and The Palace. I was also able to get them a guided tour of Ten Museum Park and Latitude on the River. We also visited the 900 Biscayne Bay sales office just before closing hours. They had a strong interest in a townhouse unit at 900 Biscayne Bay and wanted a guided tour of the actual unit. One was arranged for the following afternoon.
To say the least, they were offered a thorough look at the Miami condo real estate market on their first day looking at Miami condos. They got to see more luxury condo buildings than most people living in Miami have seen in their lives. They were due to leave back home early Wednesday morning. The aforementioned showings all occurred last Monday from 12:30pm to 6:30pm.
We picked everything back up early Tuesday morning with a visit to Carbonell in Brickell Key. They loved everything about the building and the unit that we saw, but the water views off the 2 bedroom were good but not fantastic.
I then took them to Marina Blue where they fell in love with the unobstructed water views and great deals that could be obtained there.
They still had an appetite, however, to take the tour of the townhouse unit that they were interested in at 900 Biscayne Bay. Our next stop was the 900 Biscayne Bay sales office so we could don our hard hats and goggles and trek to the unit.
Fortunately, I brought along my trusty digital camcorder along to take pictures and shoot as much video as I could in our short stay at the 900 Biscayne Bay townhouse that we visited. The following pictures and video clip are from a townhouse unit on the 7th and 8th floors at 900 Biscayne Bay.
Again, this is a townhouse unit at 900 Biscayne Bay. Not all units at 900 Biscayne Bay will offer such bi-level floor plans and high ceilings. In fact, most of them do not.
The townhouse that we saw was a 2 bedroom/2den/3 bath unit. I felt that the bedrooms were pretty small. They should have removed one of the dens and added that space to the master bedroom. The finishes, however, were just as impressive as they were in the sales center. 900 Biscayne Bay should be completed towards the beginning of 2008.
Update: One Miami Notice
I have had a chance to review the revised lease application checklist that is now required by the association at One Miami. There have been a few changes made to the leasing requirements that must be met prior to tenant approval. The revisions were made by the One Miami Board of Directors as mentioned in my previous post entitled “One Miami Notice“. In addition to a common area’s deposit equal to one month’s rent, the One Miami association has implemented a building pet deposit of $250.00 which is non-refundable. The common areas deposit is refundable as long as damages are not made by the tenant during the length of the lease. Another significant change made by the One Miami association is that a maximum of one lease will be allowed over any 12 month period. Previously, they had allowed a maximum of two leases per year. It seems that the Board of Directors feels that eliminating short-term rentals could be a good way of alleviating some of the tenant problems. Lastly, the revised application checklist mentions that all maintenance payments must be paid to date prior to any tenant application processing. All other fees and regulations have remained the same.
Although these changes will put a damper on the rental business that I conduct at One Miami, I feel that this is a move in the right direction for condo owners there. While investors in the building may be negatively affected in the short run, I feel that the long term investment picture at One Miami has improved as a result of these changes.
One Miami Notice
Today, condo owners at One Miami received an email notifying them that the Board of Directors has approved some revisions as of May 10, 2007. It goes on to say the following:
The lease and purchase applications are new and require additional documents and fees. All new applicants for lease or purchase must be notified to contact the Management Office and apply for approval from the Board of Directors prior to moving in to the premises of One Miami.
Although it may not seem like it, this is actually good news for condo owners at One Miami. This move was highly anticipated and long overdue. My guess is that the Board of Directors has decided to toughen the rental policy at One Miami and will most likely enforce a common areas deposit for the building which has become more and more common in newer buildings in recent years.
One Miami has the reputation of being a very social building. As one of the more affordable luxury high-rises in Downtown Miami, it has attracted a lot of renters. In recent months, I have heard complaints from residents at One Miami that the building has had some wear and tear attributable to the renters who reside there. It is common knowledge that a condo owner will, in most cases, take better care of the building in which he or she dwells than a renter. It looks like the Board of Directors is cracking the whip to alleviate this problem.
Built in 2005, One Miami is a recent addition to the Downtown Miami neighborhood. It is ideally located on the mouth of the Miami River and Biscayne Bay. The riverwalk in front of the building connects to Bayfront Park and Bayside Marketplace. Almost all condos in the building have some sort of water view and some even have views of the ocean. It is one of the more affordable luxury high-rise buildings in Downtown Miami. One Miami has five-star amenities such as concierge, 24-hour security, two swimming pools, two clubs rooms, two state-of-the-art fitness centers, valet service and much more. Along with the rest of the Miami real estate market, prices at One Miami have dipped a bit in the past year but have held up relatively well considering the number of new units in Downtown Miami and Brickell that have become available in the past year and the inventory of condo units that will come on-board in the next 12 moths. The three fundamentals of real estate are location, location, location and One Miami has all three with water views that will never be lost.
The video below will show you the beautiful riverwalk in front of the One Miami building and the outdoor artwork located along the walkway. The riverwalk currently connects from the building known as Brickell on the River to the shops at Bayside Marketplace but will eventually run further west along the Miami River.
The following video will show you a two bedroom at One Miami with bamboo floors throughout. It is a south-facing unit with views of Brickell Key, Biscayne Bay and the Miami River. This condo is available for sale or lease. The list prices are $499,000 and $2,600, respectively.
