2 Bedroom Miami Foreclosure at Blue Condo – $197,000

A 2 bedroom/2.5 bath foreclosure at Blue Condo came onto the market Tuesday afternoon for $197,000.  I had a few moments in between showing appointments yesterday so I decided to stop by to take a look.  The unit has 1,158 square feet of interior, recessed lighting in the living room and both bedrooms, dark hard wood flooring throughout most of the condo and a balcony with a view of Biscayne Bay from the 16th floor.  All of the appliances, however, are missing so they will need to be replaced by the new buyer.  The condo comes with 1 assigned parking space.  The maintenance fee is $850 per month.

As I mentioned in a previous post, Blue Condo is now Fannie Mae approved so financing is available to qualified buyers.  If you have an interest in viewing this condo foreclosure at Blue Condo or have any questions, give me a call at 786-247-6332.

living room and kitchen

kitchen at Blue Condo 1604

living room

master bedroom and balcony

master bedroom

balcony

walk-in closet

master bathroom

bath tub

second bedroom

second bedroom closets

second bathroom

half bathroom

Top 5 Distressed Condo Sales Closed in February 2010

Below, you will find what I believe to be the five best condo deals of the 40  distressed sales that closed in February 2010 in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District.

  1. Two Midtown #H1002 – 1 bedroom/1.5 bath (735 square feet) – This unit sold for $100,000, or $136 per square foot, on February 25, 2010.  Foreclosure
  2. Cite on the Bay #2404 – 1 bedroom/1 bath (706 square feet) – This unit sold for $110,000, or $156 per square foot, on February 26, 2010.  Short Sale
  3. Two Midtown #H1009 – 1 bedroom/1 bath (735 square feet) – This unit sold for $115,000, or $156 per square foot, on February 1, 2010.  Short Sale
  4. 1800 Club #1811 – 1 bedroom/1.5 bath (1,095 square feet) – This unit sold for $190,000, or $174 per square foot, on February 25, 2010.  Short Sale
  5. Marina Blue #2710 – 1 bedroom/1.5 bath (845 square feet) – This unit sold for $185,000 or $219 per square foot, on February 10, 2010.  Short Sale

1 Bedroom Foreclosure at Brickell on the River North – $138,000

Brickell on the River North exterior

A 1 bedroom/1 bath condo foreclosure at Brickell on the River North became available yesterday for $138,000.  The unit has 757 square feet of interior space, a balcony off the living room, a Jacuzzi tub in the bathroom, carpeting in the living room and bedroom, ceramic tile in the kitchen and marble flooring in the bathroom.  Earlier this afternoon, I stopped by the condo to take a look at it for myself.  The unit appeared to be in great condition with all appliances, including the washer/dryer, still present in the unit.  The 24th floor condo faces west with a direct view of the Miami River and the sunset in the evening.

This is definitely one of the best priced 1 bedroom condo foreclosures that I’ve seen come onto the market within the past three months.  $182 per square foot is a good deal for a condo in a quality building like Brickell on the River North.  Amenities in the building include 24-hour concierge and valet parking, fitness center, yoga room, sauna, steam room, conference room, club room, swimming pool and hot tub.  The previous owner paid $305,000 in February 2006 for this 1 bedroom condo.  This unit will likely have multiple offers and be under contract by next Friday.

Call me at 305-428-3860 if you would like to view the condo in person.

entrance to condo

Brickell on the River North kitchen

living room

Brickell on the River North bedroom

bedroom

walk-in closet

Brickell on the River North bathroom

View from 1 bedroom foreclosure

Blue Condominium 2 Bedroom Sells For $190K

Blue Condominium

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.

Marina Blue 2 bedroom foreclosure

Top 5 Distressed Condo Sales Closed in December 2009

Below, you will find what I believe to be the five best condo deals of the 59 distressed sales that closed in December 2009 in the MLS located in Brickell, Brickell Key, Downtown Miami, and the Arts District.

  1. Uptown Lofts #1005 – 1 bedroom/2 bath (1,280 square feet) – This unit sold for $135,900, or $106 per square foot, on December 4, 2009.  Foreclosure
  2. Cite on the Bay #3304 – 1 bedroom/1 bath (797 square feet) – This unit sold for $107,000, or $134 per square foot, on December 16, 2009.  Short Sale
  3. Solaris at Brickell #1001 – 2 bedroom/2 bath (1,145 square feet) – This unit sold for $182,000, or $159 per square foot, on December 23, 2009.  Short Sale
  4. Latitude on the River #2407 – 1 bedroom/1.5 bath (899 square feet) – This unit sold for $148,000, or $165 per square foot, on December 4, 2009. Short Sale
  5. 2 Midtown #M0707 – 2 bedroom/2 bath (986 square feet) – This unit sold for $165,000 or $167 per square foot, on December 7, 2009.  Foreclosure

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 Distressed Condo Sales Closed in April 2009

Below, you will find what I believe to be the five best condo deals of the 42 distressed sales that closed in the month of April in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District.

  1. Emerald at Brickell – unit 2201 – 2 bedroom/2.5 bath (1,594 square feet) – This unit sold for $306,000, or $192 per square foot, on April 30, 2009.  Foreclosure (#1 despite the high HOA fees)
  2. The Club at Brickell Bay – unit 2604 – 1 bedroom/1 bath (825 square feet) – This unit sold for $110,000, or $133 per square foot, on April 9, 2009.  Short Sale
  3. One Miami – unit 3215 – 2 bedroom/2 bath (1,145 square feet) – This unit sold for $255,000, or $223 per square foot, on April 13, 2009.  Short Sale
  4. Skyline on Brickell – unit 1912 – 2 bedroom/2 bath (1,367 square feet) – This unit sold for $325,000, or $238 per square foot, on April 17, 2009. Foreclosure
  5. Brickell on the River North – unit 1007 – 1 bedroom/1 bath (757 square feet) – This unit sold for $145,000 or $193 per square foot, on April 17, 2009.  Foreclosure

Runner-up: Vue at Brickell – unit 2108 – 1 bedroom/1 bath (838 square feet) – This unit sold for $94,000, or $112 per square foot, on April 29, 2009. Foreclosure

Unit 1508 at Brickell on the River North Revisited

Towards the end of February, I wrote about a 2 bedroom/2 bath condo foreclosure at Brickell on the River North that had recently been listed at the time.  The condo was listed for $159,000, or $151 per square foot.  The 2 bedroom was priced below recently closed 1 bedroom condos at Brickell on the River North and, as a result, attracted the interest of many buyers.  From speaking with the listing agent in February, I learned that he had received over 30 offers for the condo.  The unit closed on April 3, 2009 for $236,000, well above asking price.

Top 5 Miami Distressed Condo Sales Closed in March 2009

Below, you will find what I believe to be the five best condo deals of the 47 distressed sales that closed in the month of March in the MLS located in Brickell, Brickell Key, Downtown Miami, and the Arts District.

  1. The Mark on Brickell – unit 2702 – 3 bedroom/2 bath (1,470 square feet) – This unit sold for $251,000, or $171 per square foot, on March 20, 2009. Short Sale
  2. Brickell on the River – unit 3305 – 1 bedroom/1 bath (757 square feet) – This unit sold for $125,000, or $165 per square foot, on March 17, 2009.  Foreclosure
  3. Vue at Brickell – unit 812 – 1 bedroom/1.5 bath (860 square feet) – This unit sold for $90,000, or $105 per square foot, on March 9, 2009. Foreclosure
  4. Neo Vertika – unit 1525 – 0 bedroom/1 bath (638 square feet) – This unit sold for $98,500 or $154 per square foot, on March 19, 2009.  Foreclosure
  5. Uptown Lofts – unit 1003 – 1 bedroom/2 bath (1,065 square feet) – This unit sold for $100,000, or $94 per square foot, on March 19, 2009. Foreclosure

Runner-up – 1800 Biscayne Plaza – unit 1107 – 3 bedroom/2 bath (1,318 square feet) – This unit sold for $200,000, or $152 per square foot, on March 11, 2009. Short Sale

 

2 Bedroom Foreclosure at Murano Grande Sells for $331 Per Square Foot

Murano Grande in South Beach

I was looking through the recently closed sales in South Beach and came across a 2 bedroom/2 bath foreclosure condo at Murano Grande that sold for $475,000, or $331 per square foot on February 9, 2009.  This is by far the lowest that a 2 bedroom condo in the Murano Grande has sold through the MLS.  Grant it, the recently closed condo, unit 609, is on a very low floor but from the looks of the pictures it appears to have been in pretty good shape.

Previously, the lowest sales price for a 2 bedroom condo at Murano Grande was $650,000.  That unit was located directly two floors above unit 609 and closed in April 2008.

Unit 609 appears to have been the victim of mortgage fraud.  It previously sold for $1,100,000 in September 2006.  What’s interesting is that the list price at the time was intially $949,999.  After being listed at that price for about seven months, the list price was increased to $1,100,000 a month before the condo closed and, of course, the listing agent was able to get both sides of the deal.