The Miami condo market was featured this morning on NBC’s “Today Show”. The focus was on the recent increase in condo sales resulting from discounted developer inventory. This just goes to show that good deals are available in the Miami condo market and buyers are finally stepping in to scoop them.
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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.
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.
The following are six well known condo buildings in Miami that were given the Fannie Mae Special Approval Designation since my last update on January 18, 2010. The special designation makes it now possible to obtain financing for condos in these buildings using a conventional loan.
The following are the 5 highest condo sales in Miami-Dade County that closed in January 2010 through the MLS:
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.
I’m happy to announce that the Miami Condo Investments iPhone application is now available for download at the Apple iTunes store. Click on the image below to access it. Any feedback that you might have is much appreciated.
Just wanted to give everyone an update regarding the iPhone application. It was submitted to Apple about two and a half weeks ago. Apple contacted me late last week stating that a few minor changes needed to be made. Those changes were made and the app was resubmitted this past Monday. We’re hoping that it will be approved within the next 2-3 weeks.
In preparation for the launch of the iPhone application I hired a graphic designer to create some marketing material. Here’s a peek at the business card design.
Design work by Erica Bartlett – [email protected] – 630.340.0300
Fannie Mae has updated its list of condo buildings which have received the Special Approval Designation. The special designation makes it possible to obtain financing for condos in these buildings. The following three well known developments have been added to the list:
A complete list of condo developments in Miami-Dade County given the Special Approval Desigation.
