Miami Condo Investments

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New Construction Condo Deals in the Arts District, Brickell, Downtown Miami
2007-12-18 02:17:00
As closing dates for some of South Florida’s newest condo developments quickly approaches, the motivation from contract holders to sell is becoming increasingly apparent. I’ve been receiving a lot of phone calls and emails from contract holders, within the past couple of weeks, who are looking for me to help them find a replacement ...
More About: Miami Real Estate , Miami , Construction , Arts , Downtown

Some Great Deals at Today?s Real Estate Auction!!!
2007-12-15 23:59:00
I wasn’t able to attend this morning’s real estate auction, held at the Miami Beach Convention Center, but did learn the results of several condos that were auctioned. From what I’ve heard, there were more people in attendance at this auction than the Hudson & Marshall auction held on October 21, 2007, which I ...
More About: Miami Real Estate , Estate , Real Estate , Foreclosures , Auction

There?s Never Been a Better Time to Throw a Party
2007-12-14 09:24:00
Three years ago, it seemed like every week that there would be a party thrown to commemorate the launch of sales for a new preconstruction condominium project. The parties were grand - open bar, all-you-can-eat buffets, firework shows, flamingos walking around, synchronized swimmers, half-naked cocktail servers, the finest wines, talking parrots - you name ...
More About: Party , Time , South Beach , Throw , Apogee

General Announcement
2007-12-11 06:20:00
I just wanted to make everyone aware that I have been asked by my current brokers to remove all associations between my blog and their office. It was either that or censor my posts and the comments that are left by visitors to this blog. I never delete any comments (unless it is ...
More About: General , Announcement , Anno

Update: New Condo Construction Closing Rates
2007-12-09 02:30:00
The chart above will show you the percentage of total units that each development has closed since closings began. One Bal Harbour is the newest edition to this monthly update. Closings began November 16, 2007. The percentage of closings may seem very low but keep in mind that it can take up to three ...
More About: Construction , Condo , Update , Ten Museum Park , Latitude on the River

The $400K Price Point for 2 Bedroom Condos Has Been Breached
2007-12-07 03:12:00
Only 12 months ago, finding a 2 bedroom in a desirable condo development throughout Brickell and Brickell Key for less than $500,000 seemed like quite a bargain. How times have changed! Nowadays, the new figure seems to be $400,000. Neo Vertika currently has 11 two bedroom condos that are priced for under $400,000, Isola has ...
More About: Price , Bedroom , Point , Vue at Brickell

The First of Many Big Bulk Purchases to Occur
2007-12-06 06:21:00
I realize that I’m late to disclose the following information but I thought I’d write a post about it anyways. There are many of you out there that read about this major transaction on Monday, as I did, in the Wall Street Journal or the many other online and print publications that were released that day. ...
More About: Miami Real Estate , Bulk , Hase

Silver Bluffs Townhouses - $515,000
2007-12-04 06:49:00
The developer of 2 townhouse units near Coconut Grove in the subdivision of Silver Bluffs contacted me about a month ago. Both units were almost finished being built and he wanted to know if I could help him and his partners find a buyer for each unit. I scheduled an appointment with him so I ...
More About: Miami Real Estate , Townhouses , Townhouse

Bentley Bay - 1 Bedroom Bank-Owned Foreclosure - $449,900
2007-12-02 04:57:00
A 1 bedroom/1 bath bank-owned foreclosure with 777 square feet of interior space at Bentley Bay recently had a $100K price drop. At this point, it fell onto my radar as being a good deal. It is currently being offered at $449,900. The condo is located on the 12th floor. The unit faces ...
More About: Foreclosure , Bedroom , Owned , Bank , Miami Beach

Incredible Buy on a 1 Bedroom at The Grand - $299K
2007-11-30 07:26:00
I just came across a one bedroom/one bath listing at The Grand that looks to be incredibly well priced. It has 1,180 square feet of interior space. It is listed for $299,000, or $253 per square foot. There are a few other one bedrooms in the building that are listed for slightly less ...
More About: Miami Real Estate , Bedroom , Arts District , Incredible

Miami Condo Index - Brickell Key - November 2007
2007-11-30 03:41:00
The average price per square foot of condos listed in Brickell Key has gone down once again, as it has every month since I began this index. The average price per square foot of the ten condos, which represent the Brickell Key Condo Index, fell to $494.61 this month from last month?s figure of $501.55. ...
More About: Miami Real Estate , Miami , Louis

Closings to Begin at Opera Tower Very Soon
2007-11-26 02:26:00
Word reached me tonight that the crown top at Opera Tower has been illuminated. I have also been informed that the swimming pool and hot tubs have been filled. This suggests to me that closings at Opera Tower will begin very soon, although closings were originally scheduled for September. However, when I drove by Opera Tower this past week, the street-level commercial spaces still looked to be at least one month away from being finished. I’m not a fan of this development. I’ve made it known in a previous post that I think that this development will have a high default rate for various reasons that are disclosed in that post. I think it is likely that we will see a majority of these condos owned by the bank that loaned money to the developer of Opera Tower by April 2008. The developer went bankrupt in the 1980’s and I think we’ll see a repeat performance within the next 6 months. What do I know though? I’m no real estate oracle.
More About: Sings

Brickell Condo Index - November 2007
2007-11-25 21:51:00
The following data was collected on November 18, 2007. It took me a while to get everything up due to the holiday and work. I made a correction to October’s data. The average price per square foot of closed sales over the previous six months at Vue at Brickell was previously stated at $364.32. The correct figure should have been $469.93. The correction has been made and the overall average for closed sales in Brickell was adjusted to $481.69 instead of $475.16. The average price per square foot of condos listed has once again dropped this month to $512.14 from last month’s figure of $518.91. The weight-adjusted average also dropped to $509.24 per square foot from last month’s figure of $521.29. Average price per square foot of units currently listed on the MLS: Atlantis - 2025 Brickell Ave | 33129 | $314.80 Brickell on the River - 31 SE 5 St | 33131 | $430.01 Bristol Tower - 2127 Brickell Ave | 33129 | $490.91 Emerald at Brickell - 218 SE 14 St | 33131 | $51...
More About: Condo , Index , November 2007

Downtown Dadeland Project Developer Goes Bust
2007-11-25 03:18:00
This past week, the Daily Business Review published a very interesting real estate news story. The article, entitled “Condo Meltdown: Historic Failure in Kendall Project “, revealed that the developers of the Downtown Dadeland project, located in Kendall, have decided to walk away from the project and are handing the development over to the lender. The article ...
More About: Developer , Bust

Happy Thanksgiving!!!
2007-11-22 04:36:00
I wish you and all of your loved ones a very happy and safe Thanksgiving !!! Make sure you wear some protective gear the next day for them Black Friday specials!!! It gets rough out there. addthis_url = 'http%3A%2F%2Fblog.miamicondoinvestments. com%2F2007%2F11%2F21%2Fhappy-thanksgiving %2F'; addthis_title = 'Happy +Thanksgiving%21%21%21'; addthis_pub = ...
More About: Hank

Yet Another Auction
2007-11-19 00:32:00
I wanted to make everyone aware of another auction that will be held December 15, 2007 at the Miami Beach Convention Center in South Beach. I’ve perused the list of condos to be auctioned and it looks like there are some quality condos on the list. Below you will find some of the ...
More About: Auction , Brickell , Brickell Key , Vue at Brickell , Isola

Miami & Miami Beach Condo Trends - November 2007
2007-11-17 07:55:00
I’m going to start including a monthly condo trends report. My hope is that it will help to shed more light on the current state of the market. It is likely to be my most followed monthly piece. After the new year it, along with some other newly added statistics such as a ...
More About: Miami Real Estate , Beach , Miami , Trends , Condo

Marin Blue - Two Condos on High Floors For Sale
2007-11-17 05:22:00
Someone who has contracts on two great units at Marina Blue contacted me earlier this week. He wants to sell one prior to closing and hold onto the other. The first condo is unit 5108. The 08 line is the best line in the entire building since it is situated in the middle of ...
More About: Miami Real Estate , For Sale , Sale , High

South Beach Condo Index - November 2007
2007-11-14 05:13:00
The following data was collected on Sunday, November 11, 2007. The average price per square foot of condos currently listed in the following 19 developments in South Beach dropped from last month’s average. In fact, it even dipped below September’s average. It went from $889.83 per square foot, in October, to $886.71, ...
More About: Condo , South Beach , Index

New Condo Construction Closing Rates
2007-11-10 05:38:00
The chart above will show you the percentage of total units that each development has closed since closings began. They are in no particular order. Below, you will find the date that the first closing in each development occurred: Latitude on the River - July 27, 2007 Star Lofts on the Bay - June 20, 2007 Onyx on ...
More About: Construction , Condo , Ten Museum Park , Biscayne

Were the Banks Complicit in the Mortgage Fraud?
2007-11-08 03:35:00
Shares of Washington Mutual tumbled a little over 17 percent today as a result of a probe initiated by New York Attorney General Andrew Cuomo. Subpoenas were issued today by Cuomo to Fannie Mae and Freddie Mac, two large government-sponsored mortgage investors, to investigate mortgages that they purchased from Washington Mutual. Cuomo alleged ...
More About: Fraud , Banks , Mortgage Fraud , Mortgage , Were

The Club at Brickell Bay Association Not Paying Its Bills?
2007-11-08 02:45:00
Primecast is a cable TV and Internet service company that provides these services to all residents of The Club at Brickell Bay as a part of their association fees. The following letter was delivered last week to all residents living at The Club at Brickell Bay: IMPORTANT - PLEASE READ October 31, 2007 Dear Unit Owner, We ...
More About: Association , The Club at Brickell Bay

Plaza on Brickell - 1 Bedroom/1 Bath - $282,000
2007-11-07 02:06:00
The above picture of the progress at Plaza on Brickell was taken this afternoon. The weather was just perfect today, as it has been for the past four days. 80 degrees, no humidity and clear skies! What more can you ask for in November? Plaza on Brickell is scheduled to begin closings in ...
More About: Miami Real Estate , Bath , Bedroom

Miami-Dade County Implements Mortgage Fraud Task Force
2007-11-03 01:30:00
Miami-Dade County implemented a Mortgage Fraud Task Force division to combat the high number of mortgage fraud cases in Miami-Dade County. The Mortgage Fraud Task Force website reveals that the division will be comprised of the following five committees: Law Enforcement Committee - responsible for the detection, investigation, apprehension and prosecution of the mortgage fraud ...
More About: Miami

Miami Condo Index - Brickell Key - October 2007
2007-11-01 02:56:00
The following statistics were collected on October 27, 2007 but I wasn’t able to compile and publish the numbers until today. Each month since I began this index, the average price per square foot of condos listed in Brickell Key have gone down slightly when compared to the prior month. This month is no different. ...
More About: Miami , Condo , Louis , Brickell Key

Will History Repeat Itself in Miami?
2007-10-28 16:14:00
Earlier this week, I showed a few condos at Villa Regina to a lady who has owned a unit in the building since 1983. She and her husband purchased their condo in November of that year. She told me that for the first year and a half to two years only 25 condos ...
More About: Miami Real Estate , History , Foreclosures , Miami , Brickell

Flamingo South Beach: Then & Now
2007-10-27 21:18:00
I viewed the above picture a few days ago. I found it simply amazing to see what Miami Beach and Flamingo South Beach looked like in the 1960s. There were so many parcels of land still untouched back then. What a world of change 40+ years can bring to a city. Flamingo South ...
More About: Miami Beach , South Beach

A Picture & Video Tour of 50 Biscayne in Downtown Miami
2007-10-25 11:57:00
I had walked into 50 Biscayne a few times prior to today but didn’t have my camcorder on me each time. I wanted to share with everyone what a great job The Related Group of Florida did with this development so I decided to go back to 50 Biscayne today with the objective of ...
More About: Video , Miami Real Estate , Miami , Picture , Downtown

2 Bedroom/2 Bath Bank-Owned Foreclosure at Murano Grande in South Beach
2007-10-25 06:03:00
A 2 bedroom/2 bath bank-owned condo foreclosure at Murano Grande just became available yesterday. The unit has 1,437 square feet of interior space, with marble floors throughout, and is listed at $899,000, or $626 per square foot. The price is negotiable. The condo is located on the 23rd floor and has panoramic views ...
More About: Bath , Beach , Foreclosures , Foreclosure , South

Avanti at The Villages of Normandy Isle - Another Developer Closeout Auctio
2007-10-22 02:21:00
Avanti at The Villa ges of Normandy Isle is a multi-story townhouse community located at 155-193 North Shore Drive in the neighborhood of Normandy Isle in Miami Beach . I’ve visited several units at Avanti in the past and was very impressed. The layouts were great and most had a large rooftop terrace that would ...
More About: Developer , Avanti