Venetian Islands Waterfront Manse Trades For $9 Million Post-Irma
Despite our brush with Hurricane Irma last month, it seems that buyers have not been scared off from waterfront real estate. A charming Colonial-style 5,600 square foot waterfront home on Dilido Island has sold for $9 million, or $1,600/square foot ($540/ square foot if you are calculating the land value)..
The buyer, who hails from Ecuador, was represented by Dora Puig of Luxe Living Realty and is also the broker for the Miami Condo Investments Team. “People are paying premiums on land to live on the Venetian Islands,” she told the Miami Herald. “Even after the hurricane scare, deals are closing. People are not running away.”
The home was originally built in 1941 and has 4 bedrooms, each with a bay view, and 5 bathrooms. The 16,700 square foot lot has and infinity-edge pool and 132 linear feet of bay frontage with a boat lift.
This sale marks the most expensive single-family transaction since the storm passed. According to the Venetian Islands Market Statistics page, the average sales price per square foot on the islands over the last 6 months is $1,520/square foot.
Market Stat Monday: Almost $50 Million In Contracts Signed Post-Irma
It has been a few weeks now since the skies have cleared in Greater Downtown Miami after Hurricane Irma’s brush, and despite a little bit of flooding and debris, we were very lucky. Now that cleanup is under way, how have the condo sales fared?
Not too bad, if I must say. Despite having only two functional weeks in September, nearly $50 million in resale contracts were signed on 79 total units.
The least expensive listing to find a buyer was at the Loft II Downtown, where a 770 square foot one bedroom was listed for $175,000. Of the 79 units that went to contract, 50 of them were listed for under $500,000. We will find out the final sales prices once they close.
In the luxury segment, there were a total of 6 properties listed over $1 million that found buyers. Among them was the crown jewel penthouse #1 at Asia on Brickell Key. With nearly 5,000 interior square feet through three levels including a dramatic rooftop terrace with a private pool, the sellers had asked $8.5 million, or $1,715/square foot.
Comparing September of 2017 to September of 2016, you will see that 2016 brought both a higher number of transactions as well as a higher volume of listings sold, but not enough to make it an overall better month considering that September 2017 was short due to people being distracted by the hurricane and Hurricane Matthew didn’t brush South Florida until October of last year. September of 2016 brought just over $60 million of listings sold, with 119 total transactions.
To celebrate the end of a successful yet stressful September, let’s check out some photos of that Asia Penthouse!
Brickell Is The Best Neighborhood To Be In During a Hurricane. Here’s why. (UPDATED)
It’s been a long time, my friends. The last notable storm that hit South Florida was back in 2005, when Brickell was simply a banking center that emptied out at 6pm. Today, as we all sit in anticipation of Hurricane Matthew’s path, something occurred to me. I sure am glad that I live in Brickell. As far as safety and discomfort from a storm is concerned, I feel that Brickellians (or Brickellites) sure have it easy relative to other areas of South Florida.
We don’t have to worry about storm shutters.
Most of the residential buildings in the Brickell area were constructed with hurricane impact glass, so we don’t have to worry about the hassle of putting up our shutters. Sure, we have to clean off our balconies, but we dodge the issue of who is responsible for installing the shutters and sitting in the dark, should we decide to weather the storm at home.
Our cars are stowed away safely in the garage.
Since the parking garages in Brickell are typically in the pedestal of the building, our cars are safely parked in their spots. There is no need to worry about them blowing away or a tree falling on top of them. Also, because they are typically 2-12 floors above ground, your risk of losing your car to flood is relatively low.
We have 3 Publix locations.
Ok, so one of the locations is on the west end of West Brickell, but practically anywhere you live in the neighborhood, there is a Publix that is close enough to scurry into between swells in case you forgot something or need more beer and wine.
If you’re afraid to run to Publix, you could order from any of the countless delivery services. Sure, they may stop delivering during the storm itself, but service will be restored quickly and we can be back to our convenient living.
We will be first on the list when it comes to having power restored.
Speaking of getting back to convenient living, Brickell is one of the most populous neighborhoods in America. According to the Downtown Development Authority’s recent demographics report, there are an estimated 35,000 people living in our little neighborhood that is just over 1 square mile. We are also one of the biggest banking hubs in the nation. Because of this, the FPL regards Brickell as an important neighborhood to keep running. We are the first to receive power restoration after the hospitals. Other neighborhoods that are on the ‘high priority’ list are South Beach along Collins and Downtown Miami.
Several of our favorite go-to restaurants and bars will remain open.
Our friend and contact over at Swire, Jami Reyes, reminded me yesterday that Perricone’s is always open during storms. I also saw that The New Times has a handy list of eateries and bars that we can rely on in case we didn’t properly prepare. Here are the Brickell locations:
– Batch Gastropub: Batch is on SW 12th Street, just under the Hampton Inn. They have a full bar and amazing food (even though I still wish they would bring back their roasted peppers. Looking at you, Kevin). They also make their own Fireball, so there’s that.
– Blackbird Ordinary: This is on SW 1st Street just north of Mary Brickell Village. They have some pretty amazing craft cocktails and Jenga.
– Coyo Taco: Our local Coyo Taco is under Axis on SW 1st Street. I don’t think I really need to say more. It’s not Taco Tuesday, but it’s always time for Coyo Taco.
– PM Fish and Steakhouse: In case you’re feeling sophisticated, you can go to PM Steakhouse on 15th and South Miami Avenue for a fine cut of beef or a lobster tail.
– Perricone’s: This is a Brickell staple since forever. Perricone’s is on 10th Street, just north of Mary Brickell Village. Typically viewed as a romantic date spot and also a solid choice for a business lunch, they also have a generator and roll it out for storm days.
– Sushi Maki: They have recently moved from their original location and are now in the old Rosinella spot at 11th and South Miami Avenue.
– Tino’s: Next to Sushi Maki is Tino’s, the newest pizza location in Brickell and one of my favorites. Their pizza is top-notch. The service is really friendly and they have a really romantic secluded patio in case you visit between swells.
Does this mean that I’m skipping the preparation? No. I ordered enough LaCroix and flat water to get my family through the next few days and will pass by the store for beer and wine after work. I am thankful though that I’m not hustling with storm shutters.
Miami Hasn’t Seen a Hurricane in 11 Years, and That Big Beautiful Streak Will Continue
Hurricane Andrew, back in the day. See how perfectly formed it is?
My dad was just telling me the other day that Miami’s mini-mini Zika plague one the longer term might serve the same purpose as a good old hurricane, which our subtropical metropolis hasn’t seen in ages. Its been 11 years since Wilma hit us and we’ve been lucky since with placid skies, the occasional tropical shower, and a hardly Superstorm-calibre sideswipe by Sandy, but that’s about it. Meanwhile the people keep on coming, as tourists, new residents, and probably a lot of people trying to navigate the sketchy gray area in between. Hurricanes, dad pointed out, when they came would thin out the crowds for a while after, tempering Miami’s growth and opening the proverbial release valve a bit.
The still unnamed cluster of clowds that forecasters were considering might become something more serious over the weekend and my dad was keeping up hope as a potent crowd thinner never actually showed its very mildly threatening head. The most that happened were rainstorms keeping everything nicely waterlogged and Zika’s habitat perfectly wet. The clouds have thinned but thunderstorms are still predicted all week, and Zika’s habitation potentially a lot longer. Maiybe Zika will thin out the gridlock and traffic that Miami’s been incredibly affected by lately. Miami probably won’t be hosting any maternity fairs anytime soon.
