Andy Murray Tries Again To Sell His Condo At Jade Brickell

October 17, 2016

Photo courtesy Miami MLS

Tennis ace Andy Murray is trying once more to sell the big 4 bedroom condo with big bay views at Jade at Brickell Bay. Back in May, it was reported that he was in contract to sell the apartment after having listed it for $2,900,000 but I guess that didn’t go through. It never closed, the listing expired from the MLS and everything was quiet… until today.

The 45th floor property was relisted today with a price reduction to $2,690,000 according to the MLS, or $787/square foot. The average sales price for the building over the last 3 months is $700/square foot so it looks like there could be a workable deal here.

It also appears that Mr. Murray has as much investment prowess as he has tennis skills. He purchased the apartment back in 2008 for $1,575,000, or $461/square foot. Bargain! Some newer residents of Brickell may not remember that in 2008, Jade at Brickell Bay was particularly hit by the market crash. Even hard money lenders wouldn’t make a mortgage in that building because of all the mortgage fraud that had gone on. The person that sold Andy the apartment had previously purchased it from the developer for $2,250,000. The original seller lost $675,000 on the apartment! Ouch!

Fast forward to today, all is well at Jade, and Andy wins. He’s been soaking in that bay view for the last 8 years (when he passes through Miami anyway), and now he will soak in the dough when it sells. I know we can’t predict what it will sell for, but the apartment doesn’t seem to have any defects that would prevent a fair market value sale. Even if he sold at the average price per foot of the building, he would sell it for around $2,400,000. Since it is a corner unit with a spacious kitchen and large terrace, I anticipate it would bring in more than the average, so we shall see!

What do you think about the apartment? Is it well-priced?