On April 20, 2010, Marina Blue received a letter from Fannie Mae stating that the building has been accepted under Fannie Mae’s Special Approval Designation for twelve months. Qualified buyers will now be able to obtain financing using a Fannie Mae conventional loan.
Potential buyers may want to take a look at unit 2203 at Marina Blue. It’s a 1 bedroom + den/1.5 bath condo with 943 square feet of interior, 9-foot ceilings and a balcony that stretches the length of the unit. The condo offers views of Biscayne Bay, Key Biscayne, the Miami Beach skyline and Downtown Miami. At an asking price of $300,000, it is being offered at the lowest price per square foot of any 1 bedroom condo at Marina Blue currently active in the MLS. Take a look at the video tour below.
Best Priced 2 Bedroom at Marina Blue – $390,000 – Video
Take a look at the video below to view the best priced 2 bedroom currently available at Marina Blue. This 2 bedroom/2 bath condo has 1,198 square feet of interior, 138 square feet of balcony, 9-foot ceilings, tiled flooring throughout, stainless steel kitchen appliances, Wenge built-in closets in both bedrooms, washer/dryer and 1 assigned parking space. The asking price is $390,000.
Contact me at [email protected] or 305-428-3860 if you have any questions or if you’d like to schedule a showing. Broker participation is welcome.
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.
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.
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
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
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
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
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
Marina Blue Penthouse to be Featured in Season 4 of "Burn Notice"
Earlier this afternoon, an episode for next season’s “Burn Notice” was filmed in Penthouse 5708 at Marina Blue. The 4 bedroom/4 bathroom penthouse has 4,198 square feet of interior across two levels, 20-foot ceilings with floor-to-ceiling glass windows and panoramic views of Biscayne Bay, the Atlantic Ocean and the Miami Beach skyline. It offers what many would call the most spectacular view in all of Miami.
Penthouse 5708 has been on the market for 71 days at an asking price of $3.3M, or $786 per square foot.
Marina Blue Unit 5108 Closes for $431 Per Square Foot
Earlier this afternoon, unit 5108 at Marina Blue closed for $575,000, or $431 per square foot. The unit was decorator-ready and there weren’t any seller concessions. The reason why I know this is because it was my listing.
The sale of unit 5108 marks the highest price per square foot sale at Marina Blue for 2009. Earlier this year, I discussed an opportunity to purchase condos at Marina Blue for as low $156 per square foot. Additionally, the asking price for penthouse condos at Marina Blue started as low as $307 per square foot. These bulk prices were offered to those who were able to purchase 5 or more condos. However, the retail prices were excellent as well for those who wished to purchase only one condo. Retail prices started at $188 per square foot. One of my clients was able to acquire a penthouse condo for $362 per square foot. One 08 line unit was available at that time at a bulk price of $226 per square foot or a retail price of $272 per square foot. The 53 units that were available for sale in June all went under contract within the first 2 weeks. That opportunity has come and gone. The sale of unit 5108 just goes to show that there were some outstanding opportunities to be had in 2009 if you looked in the right place and didn’t have your mind made up before hearing the deal.
Top 5 Distressed Condo Sales Closed in September 2009
Below, you will find what I believe to be the five best condo deals of the 53 distressed sales that closed in the month of September in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District. It was tough to decide between the first two for the number one spot but The Mark on Brickell #1608 took it based on location and view.
The Mark on Brickell #1608 – 2 bedroom/2 bath (1,140 square feet) – This unit sold for $210,000, or $184 per square foot, on September 18, 2009. Short Sale
Blue Condominium #1701 – 2 bedroom/2.5 bath (1,449 square feet) – This unit sold for $210,000, or $145 per square foot, on September 10, 2009. Foreclosure
Brickell on the River North #3715 – 3 bedroom/2.5 bath (1,512 square feet) – This unit sold for $287,000, or $190 per square foot, on September 4, 2009. Short Sale
Jade Brickell #1201 – 2 bedroom/2.5 bath (1,878 square feet) – This unit sold for $675,000, or $359 per square foot, on September 30, 2009. Foreclosure
Marina Blue #2302 – 1 bedroom/1.5 bath (843 square feet) – This unit sold for $190,000 or $225 per square foot, on September 30, 2009. Short Sale
As a side note, bidding on foreclosures has become extremely competitive. I noticed that the majority of the condo REOs that closed in September closed at a price that was above the asking price. This was the case in 19 of the 26 REO listings that closed last month located in the aforementioned neighborhoods of Miami. It has become more important than ever to know the comparable sales in the neighborhood. The mentality of automatically going in with a bid 10-15 percent below asking price doesn’t fly anymore. With season right around the corner, I’m confident that the worst is well behind us.
Marina Blue Penthouse
Just wanted to share some great pictures that I shot earlier today of a 2,703 square foot penthouse at Marina Blue. All penthouse condos at Marina Blue have 20-foot ceilings.
Drive Down Brickell Avenue and Biscayne Boulevard – Video
I must say that I’m very impressed with how far video technology has come along over the past year. Gone are the days of YouTube’s grainy video quality. YouTube now allows people to upload and view HD videos. Don’t expect the HD quality that you see on your HD TV but it’s still a big leap for Internet video.
Here are a couple of videos that I shot Friday night while driving down Brickell Avenue and Biscayne Boulevard. (It may take a while to load if you’re using a slow Internet connection). You’ll notice Icon Brickell, Epic and One Miami in the video below:
Downtown Miami has changed tremendously within the past 4-5 years. I just wanted to share a few pictures that I took earlier this week. As you can see, the construction cranes are gone from the Downtown Miami skyline.
New Downtown Miami condo developments 50 Biscayne, Vizcayne, Marina Blue, 900 Biscayne Bay, Ten Museum Park and Marquis can be seen in the pictures above and directly below. The American Airlines Arena, Bayside Marketplace and Bayfront Park appear in the picture above as well.
(Below) A look south down Biscayne Boulevard.
(Below) The view east from a Downtown Miami condo high-rise.
