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Miami Condo Investments

Miami Condo Investments
The authoritative source for all news relating to Miami and Miami Beach real estate, with a specific focus on condominiums and lofts. I will provide investors with the best information relating to Miami and Miami Beach real estate investment opportun

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Blue Condominium - 1 Bedroom/1.5 Bath Foreclosure - $229,000
2008-02-28 23:27:00
I was stunned when I saw this foreclosure listing at Blue Condominium. $229,000 for a 1 bedroom at Blue Condominium!!! This condo would have probably been listed for around $380,000 in 2006. The MLS listing shows it to be a 1 bedroom/2 bath condo but I don’t think that information is accurate, ...
More About: Miami Real Estate , Bath , Foreclosures , Foreclosure

New Features of the Miami Condo Investments Blog
2008-02-27 21:55:00
Some of you may have already noticed a few of the new features that have been added to this blog within the last 2-3 weeks. However, I’m sure that many of you are still not aware of some of them. I thought I’d write a blog post to highlight those new features to ...
More About: Miami , Features , Blog , Condo , Investments

Miami & Miami Beach Condo Trends - February 2008
2008-02-26 19:40:00
Below, you will find the Miami -Dade County condo inventory and months of supply figures for February 2008. The first box to the left reveals the total number of condos that are currently available for sale on the MLS throughout Miami-Dade County. The second box discloses the total number of closed sales that occurred ...
More About: Miami Real Estate , Beach , Trends , Condo

Miami Condo Market Highlighted by the Major Media
2008-02-23 07:50:00
Kevin Tomlinson, of the South Beach Condo Blog, hit a home run yesterday with his post entitled “All You Ever Wanted to Know About Miami & Miami Beach Real Estate: A Video Round-up“. The “Today Show” was in sunny Florida yesterday morning to report about the Miami and Miami Beach real estate market along ...
More About: Media , Miami Real Estate , Market

Foreign Buyers Finding Deals in the Miami Condo Market
2008-02-22 07:04:00
On February 20, 2008, Reutors published an article entitled “Miami Condo s are ‘for sale’ for Foreign Buyers“. The article discusses how foreign buyers are stepping in to buy condos at a discount in Florida, where prices have dropped “20 to 30 percent”. The appreciation of their currency is another motivating factor in their ...
More About: Miami Real Estate , Market

New Miami Condos - Closing Rates for February 2008
2008-02-21 05:30:00
This month, I decided to make two separate graphs to show the percentage of total units that each development has closed since closings began. The first graph, found immediately below, reveals the closing rates for Miami condos which had their first closing prior to November 1 2007. The condo developments are ...
More About: Miami Real Estate , Club , Ten Museum Park , Latitude on the River

Flamingo South Beach North Tower Canceled?
2008-02-17 05:13:00
Earlier this week, I received an email from someone stating that they had heard rumors that the North Tower of Flamingo South Beach had been canceled. I asked around and it seems that, while nothing has officially been announced, there are plans to give deposit money back to contract holders of units in the ...
More About: Miami Beach , South Beach

Cash is King in the Miami Condo Market!
2008-02-14 05:47:00
Two local business papers, Daily Business Review and South Florida Business Journal, published articles yesterday morning discussing the fact that some lenders have blacklisted certain condo developments in Miami . However, a few condo developments have it worse than others in Miami. The Daily Business Review article revealed that sellers in condo buildings riddled with foreclosures find that it is nearly impossible for potential buyers to obtain financing. The article uses Vue at Brickell to illustrate the point and states that “the project is widely avoided in the lending industry”. The same holds true for other condo developments in Miami that have experienced a high number of foreclosures. The doors are now closed! Well, unless, of course, you are paying in full with the almighty greenback. BankUnited seems to have blacklisted the entire Miami condo market with over 160 condo developments on its list that are located in Miami. I’m not even exaggerating. I...
More About: Market , Condo , King , Cash

Apogee South Beach - Now That?s a Master Bathroom!!!
2008-02-14 03:52:00
Yesterday morning, I had the opportunity to visit a few condo units at Apogee South Beach located at 800 South Pointe Drive in South Beach. The word “sensational” doesn’t even come close to fully encompassing the quality that has gone into this condo development. Apogee South Beach is in a league of its ...
More About: Bathroom , Master , Miami Beach

Apogee South Beach - Now That’s a Master Bathroom!!!
2008-02-14 03:52:00
Yesterday morning, I had the opportunity to visit a few condo units at Apogee South Beach located at 800 South Pointe Drive in South Beach . The word “sensational” doesn’t even come close to fully encompassing the quality that has gone into this condo development. Apogee South Beach is in a league of its own, with quality that is unmatched by any condo development in South Florida. The following are a few shots of the master bathroom that I took yesterday inside one of the two condos at Apogee South Beach. Trust me, the kitchens are equally as impressive, if not more so. I’ll likely share the photos of the kitchen at Apogee with everyone in a future post.
More About: Bathroom , Master

Miami Picture of the Day
2008-02-13 23:13:00
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More About: Picture of the day , Arts District , Opera Tower

Marina Blue - Closings to Begin This Week
2008-02-12 00:11:00
The moment has finally arrived. Closings will begin at Marina Blue this week. I’m not quite sure which exact day they will begin but I know someone who has his closing scheduled for this Friday morning. My guess is that the first closing took place earlier today though. I’ve been looking quite forward for Marina Blue to be completed. Architecturally, Marina Blue is my favorite of the new buildings that have arrived on the Miami condo market within the past 12 months, and of those that will arrive within the upcoming 12 months. Marina Blue is very impressive to look at while driving down Biscayne Boulevard or driving west over the MacArthur Causeway. Everyone already knows that the views from within the Marina Blue condos are going to be some of the best in Miami. I can’t think of one other building in Miami that offers unobstructed, direct bay views from EVERY unit in the building. (Someone help me here…there has to be at least one other building in M...
More About: Week

Another Miami Condo Lawsuit
2008-02-09 01:52:00
CBS4’s correspondent, David Sutta, reported tonight about yet another lawsuit involving a Miami condo developer. The lawsuit was filed against the Related Group of Florida by contract holders who decided to walk away from their 20 percent deposit at 50 Biscayne. Apparently, the contract agreement stipulates that contract holders are entitled to 25 percent of their deposit money if they decide not to close. The lawsuit was filed because this money was never returned. From the details that I’ve heard about the lawsuit, the plaintiff has a strong case against the developer. It seems to be a simple oversight in not including certain language that may have otherwise protected the developer. We shall see if condo litigation specialist, Beck & Lee, will be successful in getting their clients their money back.
More About: Lawsuit , Condo

Say It Aint So “O”
2008-02-06 07:22:00
Yahoo News! reported earlier today that there are rumors that Shaquille O’Neal will be traded to the Phoenix Suns. I hope these rumors don’t prove to be true but it does sound like the Miami Heat will part ways with Shaq in the near future. I think everyone will agree that Shaquille O’Neal has been a great addition to the Miami community. He will definitely be missed. Shaquille O’Neal’s home, on Star Island, is currently on the market for $32M. There were rumors on November 1, 2007, from the South Beach Real Estate Blog that Alex Rodriguez was looking to buy Shaq’s humble abode. I heard from other sources that the deal fell apart because Alex Rodriguez’s wife wanted to be closer to her family in Coral Gables. In my opinion, it may also be possible that Alex may have wanted to have his home a bit more distanced from Miami Velvet. I haven’t fully thought this out yet, but I may, (still need to think about this one), consider steppi...

Say It Aint So ?O?
2008-02-06 07:22:00
Yahoo News! reported earlier today that there are rumors that Shaquille O’Neal will be traded to the Phoenix Suns. I hope these rumors don’t prove to be true but it does sound like the Miami Heat will part ways with Shaq in the near future. I think everyone will agree that Shaquille O’Neal ...
More About: Miami Real Estate

Uptown Lofts Penthouse Goes Under Contract for Less Than $200 Per Square Fo
2008-02-06 04:58:00
On June 7, 2007, I wrote about a 2 bedroom/2 bath penthouse loft at Uptown Lofts that, at the time, was a short-sale. The loft has 1,965 square feet of interior space. Since that time, the unit has fallen into the hands of the bank. The list price was recently reduced to $375,000, or about $191 per square foot. As of January 31, 2008, the loft went under contract. Who knows what the actual contract price of the unit is, however. The unit does need some work but I think, for the price, the buyer got a fantastic deal on this loft. There aren’t many lofts in Miami of this size with a direct bay view. I previously had the property on my “Deals” page which, by the way, I updated tonight. For more details on this loft visit my previous post on it. You can view the MLS listing page here.
More About: Contract , Penthouse , Square

Prime Blue Grille and Il Gabbiano Are Just What Downtown Miami Needs
2008-02-05 03:52:00
Miami needs high-end restaurants, grocers, hair salons, pharmacies, book stores, cafes and department stores. These services exist today in Downtown Miami but they likely wouldn’t be considered “high-end” by the standards of most who inhabit the newly constructed $350-plus per square foot condos that surround the eastern exterior of Downtown Miami. This is something that will one day become a realization. However, restaurants and other establishments aren’t going to jump to acquire the empty commercial spaces, which abound at the bottom of these newly built condo high-rises, until they feel that there are enough year-round residents to justify such a commitment. Case in point is One Miami. This is a condo development that began delivering its condos at the very end of 2005. Closings began at a time when the real estate market was questionably still going strong. However, it wasn’t until the fourth quarter of 2007 that two fine restaurants, Prime Bl...
More About: Miami , Blue , Grille

Miami Condo Construction Update
2008-02-04 04:23:00
Super Bowl Sunday afternoon, I decided to walk around Brickell, Downtown Miami and Park West to provide those who reside outside of Miami a construction update for various condo developments. Below, you’ll find various pictures that I took during my walk: 500 Brickell looks to be about 2-3 months away from being finished. Epic looks to be almost topped off. Icon Brickell appears to have topped off one of its towers and close to topping off the other two. Met 2 will be comprised of two towers. One will be a 47-story high-rise comprised of Class A office space. The second will be a 42-story signature hotel called Marquis, a JW Marriott Collection Hotel. Asia is located in Brickell Key. Probably another 2-3 months until this luxury high-rise is ready to begin closings. Met 1 is the white tower located in the center with the Wachovia building hovering directly behind it. Met 1 is complete but I’ve yet to hear for when the first closing is scheduled. Has anyone hea...
More About: Construction , Condo , Update

Assessing the Neighborhoods and Condo Buildings of Miami
2008-02-01 01:48:00
A great comment was made this morning asking me for my take on the various neighborhoods in Miami . Excellent topic and one that I’m sure my nonlocal readers would appreciate. The map above is a portion of a larger map that was created by the Miami Downtown Development Authority. It is a great resource ...
More About: Condo , Buildings , Neighborhoods

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