In this video segment, we discuss the developer blowout sale at The Plaza on Brickell that was announced Thursday afternoon. I received word just 24 hours later that 16 units had already been placed under contract. This is now the best deal in Brickell but availability won’t last long. Later in the video, we also discuss the uptick in luxury condo sales in 2010. We end the show with a picture slideshow of Penthouse A at Apogee South Beach which came onto the market last month with an asking price of $16M.
South of Fifth – Miami Beach’s Ultra-Luxury Neighborhood
The video above is meant for the non-local buyer who may not be familiar with the various neighborhoods throughout South Florida. South of Fifth, also known as SoFi, is a neighborhood that encompasses the five southern most blocks of South Beach (and therefore Miami Beach). Once regarded as one of the most dangerous neighborhoods in South Florida, South of Fifth is now considered to be one of the safest and most luxurious for condo living. The revitalization of the area within the past two decades has been remarkable, attributed mainly to visionary Thomas Kramer.
One of the main attractions for South of Fifth condos is South Pointe Park which reopened in March 2009 after undergoing a $22M renovation. The neighborhood also has world-renowned restaurants Joe’s Stone Crab and Prime 112 as well as local favorites Devito South Beach, Smith & Wollensky and China Grill. South of Fifth is reputed for being a clean, quiet, exclusive neighborhood away from the congestion of South Beach but within walking distance to all else that South Beach has to offer. The beach at the southernmost point of Miami Beach, in my opinion, is also one of the most beautiful beaches in South Florida.
Below, you will find a list of the South of Fifth condo buildings that were featured in the video. Click on each link to view the condos currently available for sale.
Earlier this week, we discussed a 3 bedroom/3.5 bath condo listing we recently obtained at the luxury, beachfront condo development called Azure located in Surfside, Florida. Below, you’ll find a video tour of the amenities and common areas at Azure for those of you not familiar with the building.
Here’s the video of the 3 bedroom/3.5 bath condo at Azure priced at $1,499,000. We priced it for a quick sale. The previous list price was $1,755,000. The next best priced 07 line in the building is the unit one floor above which is listed for $2,400,000.
Azure Unit 307 – 3 Bedroom/3.5 Bath Luxury, Beachfront Condo
In this video show we discuss our newest listing. It’s a 3 bedroom/3.5 bath condo with 2,489 square feet of interior and 366 square feet of balcony at Azure which is located in Surfside. The condo faces direct east towards the beach and ocean. The list price is $1,499,000, or $602 per square foot. I’ve included the floor plan of the unit below the video.
We also discuss a 2 bedroom condo at Azure which we’ll be getting the listing for next week which is adjacent to unit 307. By combining the two units a buyer can potentially create a 5 bedroom/5 bath with 2 half bathrooms.
Apogee South Beach Unit 2001 – Video Tour
Below, you will find a video tour of unit 2001 at Apogee. Apogee is located at 800 South Pointe Drive in the South of Fifth neighborhood of South Beach. Apogee is considered to be one of the finest condo buildings in all of South Florida. Unit 2001 is a 4 bedroom + media room/3.5 bath condo with 4,154 square feet of interior and 2,441 square feet of terrace. The asking price of this 20th floor corner unit is $7.75M, or $1866 per square foot. Unit 2004, a 4 bedroom of the same size located on the opposite corner, closed in July 2008 for $7.3M, or $1757 per square foot. It was sold decorator ready just as unit 2001 is being sold. Contact us at 305-428-3860 if you have any questions or would like to visit unit 2001 in person.
900 Biscayne Bay condos still remains my favorite of all of the condominium high-rises built in Miami within the past ten years. The quality of the building and units is unmatched and it has some of the most spectacular amenities of any building that I’ve encountered. I think after viewing the high definition video below you’ll see exactly why I feel that way.
At this time, about 80 percent of the units at 900 Biscayne Bay have closed or are under contract. The building is Fannie Mae approved. Contact us at 305-428-3860 if you have an interest in viewing 900 Biscayne Bay in person or would like to discuss developer inventory.
Most of you have probably already begun to realize that the utilization of video is becoming an increasingly important part of our business. We are currently in the process of developing a new website that will showcase these videos. Our hope is that a video library of properties and buildings will allow non-local buyers to narrow down their options prior to arriving in South Florida in a way that words and pictures cannot convey. This will allow them to best utilize their time while in town and find the real estate that best suits their needs. Meanwhile, the Miami Condo Investments website will continue to improve and provide the content that allows buyers and sellers to research the South Florida condo market like no other.
Above, you’ll find a video tour of Marina Blue. It’s a thorough, high-quality video of the common areas and amenities in the building. In time, we hope to do the same with other condo developments in South Florida. Oftentimes, approval from the condo board or property manager is required in order to capture such footage. Please contact us if you’re a property manager or sit on the board of a well known condo development in South Florida. We’ll cover the expense and be sure that the building is thoroughly captured as is achieved in the video below.
Marina Blue 2 Bedroom on the 54th Floor – Video
For those of you looking for a spacious 2 bedroom with a breathtaking view, look no further. We have a very well priced listing at Marina Blue located on the 54th floor with views of Biscayne Bay, the Atlantic Ocean, Downtown Miami, Key Biscayne and the Miami Beach skyline. It’s a 2 bedroom/2.5 bath condo with 1,663 square feet of interior and 10-foot ceilings with floor-to-ceiling, hurricane-resistant windows. This is a “decorator-ready” unit. The list price is $540,000 or $325 per square foot. Within the past six months, eight 2 bedroom condos at Marina Blue have closed. These eight units sold in the range of $289-$431 per square foot. In case you’re wondering, the one that sold for $431 per square foot was also a “decorator-ready” unit.
Out of curiosity, I wanted to see just how well priced this listing is compared to other recently built large 2 bedroom condos not only in Downtown Miami but also Brickell and Brickell Key. I did a search in the MLS using the following criteria:
2 Bedroom
Minimum of 1,600 square feet
Located in Downtown Miami, Brickell or Brickell Key
Building completed in the year 2000 or later
Our listing is the third best priced condo in those areas using the above search parameters and it’s not a short sale or foreclosure. The best priced listing is a short sale at Courts at Brickell Key with 1,626 square feet of interior and an asking price of $499,000. The second best priced unit is a foreclosure at Ten Museum Park with 1,794 square feet of interior and an asking price of $531,000. Neither has a view that even compares to unit 5404 at Marina Blue. Take a look at the video below to get an idea of what it feels like to live in the sky and enjoy one of the best views in Miami.
If you’re a buyer and would like view this 2 bedroom condo in person, please call 305-428-3860 to schedule a showing. Broker participation is welcome.
Setai Penthouse Reduced to a Cool $19,999,999
Penthouse B at The Setai is one of the most visually stunning pieces of real estate in South Florida. The 10,000 square foot penthouse was reduced last month to $19,999,999 from a previous asking price of $22M. In February 2006, the sellers were asking a whopping $34M. The fully furnished 4 bedroom/4.5 bath penthouse has approximately 6,200 square feet of interior space and 3,800 square feet of terrace which includes a lavish private pool and hot tub. Encompassing the entire 40th floor at The Setai, Penthouse B offers 360 degree views.
