Icon Brickell Developer Agrees to "Friendly Foreclosure"
Yesterday, The Related Group and its lenders agreed to a “friendly foreclosure” for Towers 1 and 2 of Icon Brickell. This video provides our commentary as well as the details pertaining to the agreement.
Atlantis on Brickell 3 Bedroom Condo Foreclosure
A 3 bedroom/3 bath condo foreclosure at Atlantis on Brickell came onto the market last Thursday. It’s an 01 floor plan with 2,149 square feet of interior and a direct view of Biscayne Bay. The condo came onto the market at an initial list price of $544,500, or $253 per square foot. I visited the unit last Friday and had a chance to take several pictures. This is only one of two 01 units that are currently on the market at Atlantis on Brickell. The other, unit 1401, is listed for $599,000 and is located two floors lower than the one in the pictures below. Contact me at 305-428-3860 if you have an interest in viewing this 3 bedroom foreclosure at Atlantis on Brickell in person.
Maintenance fees are $1198 per month.
Living Room
Kitchen
Master Bedroom
Master Bathroom
Second Bedroom
Second Bathroom
Third Bedroom
Third Bathroom
Laundry Room
Atlantis on Brickell was completed in 1982 and is considered a landmark building located at 2025 Brickell Avenue, Miami, FL 33129.
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.
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
Top 5 Distressed Condo Sales Closed in January 2010
Below, you will find what I believe to be the five best condo deals of the 66 distressed sales that closed in January 2010 in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District.
Ten Museum Park #1905 – 1 bedroom/1.5 bath (791 square feet) – This unit sold for $137,000, or $173 per square foot, on January 11, 2010. Short Sale
Neo Vertika #PH226 – 1 bedroom/2 bath (1,155 square feet) – This unit sold for $158,000, or $137 per square foot, on January 11, 2010. Foreclosure
Parc Lofts #206 – 2 bedroom/1 bath (1,267 square feet) – This unit sold for $122,000, or $96 per square foot, on January 8, 2010. Foreclosure
The Club at Brickell Bay #1506 – 1 bedroom/1 bath (825 square feet) – This unit sold for $108,000, or $131 per square foot, on January 15, 2010. Foreclosure
Solaris at Brickell #806 – 1 bedroom/1 bath (754 square feet) – This unit sold for $120,000 or $159 per square foot, on January 29, 2010. Foreclosure
Blue Condominium 2 Bedroom Sells For $190K
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.
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.
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
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
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
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
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
Top 5 Distressed Condo Sales Closed in July 2009
Below, you will find what I believe to be the five best condo deals of the 43 distressed sales that closed in the month of July in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District. I wasn’t very impressed with the deals that closed in July, however, when compared to those we’ve seen in previous months. Coincidentally, all five condos are located in Brickell this month.
Brickell on the River North #805 – 1 bedroom/1 bath (820 square feet) – This unit sold for $128,000, or $156 per square foot, on July 30, 2009. Short Sale
Brickell on the River North #1611 – 2 bedroom/2 bath (1,117 square feet) – This unit sold for $190,000, or $170 per square foot, on July 10, 2009. Short Sale
The Sail on Brickell #2704 – 2 bedroom/2 bath (942 square feet) – This unit sold for $137,900, or $146 per square foot, on July 31, 2009. Foreclosure
Solaris at Brickell #1903 – 2 bedroom/2 bath (1,064 square feet) – This unit sold for $185,000, or $174 per square foot, on July 24, 2009. Foreclosure
Imperial at Brickell #1505 – 3 bedroom/2 bath (1,732 square feet) – This unit sold for $350,000 or $202 per square foot, on July 29, 2009. Short Sale
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 May 2009
Below, you will find what I believe to be the five best condo deals of the 46 distressed sales that closed in the month of May in the MLS located in Brickell, Brickell Key, Downtown Miami and the Arts District. I think the distressed condos that closed in the month of May were better deals than what we have seen in previous months.
Jade Brickell – unit 1002 – 2 bedroom/2 bath (1,529 square feet) – This unit sold for $375,000, or $245 per square foot, on May 15, 2009. Short Sale
Courts Brickell Key – unit 1909 – 3 bedroom/3 bath (1,488 square feet) – This unit sold for $350,000, or $235 per square foot, on May 20, 2009. Short Sale
Skyline on Brickell – unit 306 – 2 bedroom/2 bath (1,367 square feet) – This unit sold for $349,000, or $255 per square foot, on May 8, 2009. Foreclosure
Skyline on Brickell – unit 1512 – 2 bedroom/2 bath (1,367 square feet) – This unit sold for $305,000, or $223 per square foot, on May 18, 2009. Short Sale
One Miami – unit 3916 – 1 bedroom/1 bath (846 square feet) – This unit sold for $150,000 or $177 per square foot, on May 27, 2009. Foreclosure
Runner-ups:
The Mark on Brickell – unit 1001 – 2 bedroom/2 bath (1,200 square feet) – This unit sold for $205,000, or $171 per square foot, on May 22, 2009. Foreclosure
1800 Biscayne Plaza – unit 203 – 2 bedroom/2 bath (1,057 square feet) – This unit sold for $120,000, or $114 per square foot, on May 01, 2009. Short Sale
Cite on the Bay – unit 2213 – 1 bedroom/1 bath (795 square feet) – This unit sold for $100,000, or $126 per square foot, on May 13, 2009. Foreclosure
