Thursday, October 31, 2013

The Best One-Bedroom Deals in Brickell

One-bedroom properties in Brickell are very popular with first-time home buyers and professionals not to mention investors in search of some of the most sought after rental property.  The area has tons of opportunities for Miami real estate investments – some better than others. 

When comparing the value of a selection of properties, the price per square foot is very important in looking at the value and what kind of “deal” the list price presents.  Let’s face it – most everyone is always looking for a good deal when buying real estate.  So, with that in mind, following are the best one-bedroom deals in Brickell:

905 Brickell Bay Drive, #424, Four Ambassadors, List Price:  $220,000
With 990 square feet, this is probably the best deal in Brickell at just $222/square foot.  Even though it features one bedroom and two baths, there is a second room that is perfect as a den or second bedroom.  With hardwood floors and tons of windows showcasing beautiful garden views, this is a fantastic unit in a great building.  Its location is ideal on Biscayne Bay and within walking distance to Mary Brickell Village and the core of the financial district.   On top of all of this, there are currently tenants in place on a month to month basis paying $1,400/month.  Common amenities include a very nice pool with sun deck, 24-hour concierge, valet, and more.  Monthly maintenance fees include utilities.  As this is an estate sale, the accepted offer is subject to Probate Court approval prior to closing.  


101 East Flagler Street, #610, Flagler First Condominium, List Price:  $190,000
With 774 square feet of living space, this one bedroom is listed at only $245 per square foot.  This unit is an end unit and has an L-shaped floor plan that creates a lot of space and room to move.  The main area combines the great room and kitchen making it perfect for entertaining.  The kitchen has granite counter tops and stainless steel appliances.  Because of the layout, this unit offers privacy with the bedroom being away from the main living areas.  Flagler First Condominium is located in the center of Brickell within walking distance to most anything in Brickell.  Residents enjoy the use of a state of the art fitness center and a great rec room.  This condominium, built in 2008, is a premiere Brickell condominium and one that is on the radar for many home buyers.

999 Brickell Bay Drive, #1209, Four Ambassadors, List Price:  $150,000
Not the largest unit available in Brickell, it is in one of the most sought after buildings in Brickell.  With 580 square feet and only $259 per square foot, this is a studio that has the potential to be converted to a one-bedroom unit.  It is situated in Tower 1 and gets tons of natural light from windows that line that entire wall in the main living area.  This is an excellent investment opportunity as rental rates for studios can range from about $1,200 to about $1,700 per month.  For residents, there is a wonderful pool and sun deck as well as 24-hour concierge and valet.  The location of the Four Ambassadors is ideal along Biscayne Bay and within walking distance to many of the most popular Brickell venues.

101 East Flagler Street, #202, Flagler First Condominium, List Price:  $224,500
This 857-square foot is listed at $262 per square foot in one of Brickell’s most popular condominiums.  With an open floor plan and lots of room to move, this is a fantastic one bedroom unit. Situated in the perfect location that is close to everything in Brickell and Downtown Miami, the kitchen has stainless steel appliances, granite counter tops, and sleek custom cabinetry.  Similar properties in Flagler First have tenants in place with rental rates falling between $1,400 and $1,600 or more.  With a state of the art fitness center and rec room, this is the perfect opportunity to live in the middle of the excitement and within walking distance to everything in the area.

1200 Brickell Bay Dr #2212, The Club at Brickell Bay, List Price:  $239,000
At only $292 per square foot, this 818-square foot unit at the Club at Brickell Bay sits high in the air and has beautiful ocean, Bay and city views.  In fact, this unit has some of the nicest views in the entire building.  Unlike many of the one-bedroom units in Brickell, the main living areas are separated with a self-contained kitchen that has granite counter tops and European cabinetry.   The master bedroom is huge and features a walk-in closet and marble bath with lots of detail.  Residents also enjoy the use of two pools, a spa, a fully equipped fitness center, steam room and so much more.  Like other Brickell condominiums, the Club at Brickell Bay is within walking distance to many Brickell hot spots. 

Value in Brickell Real Estate

There is still value in Brickell real estate with affordable properties available as the area grows by leaps and bounds.  With its popularity increasing, there are new condominiums under construction and more in the planning stages.  First time buyers and investors alike can look at these one-bedroom units along with the others as a solid investment that will grow in worth.  Now is the time to consider buying Brickell real estate.  

Tuesday, October 22, 2013

Real Estate Projects in Up and Coming Edgewater

In a Miami Herald article earlier this year, Edgewater’s location was said to be at “the intersection of funky and trendy.”  And by all accounts, that is exactly where it is located.  Bordered by NE 17th Street (north); Tuttle Causeway at 36th Street (south); Biscayne Bay (east); and, the railroad or Biscayne Boulevard (west), Edgewater is bursting with real estate projects from some of the most successful developers in the country and, even the world. 

This once devastated neighborhood is coming to life with excitement as the economy rebounds.  Edgewater has two big draws that makes it a target for revitalization: its close proximity to the fashionable Design District and Midtown neighborhoods, and its prime location fronting Biscayne Bay. 
With the explosion of high rise projects under construction or in the works to begin construction, there are a few Miami condominiums worth mentioning as they bring so much to the community in terms of amenities and lifestyle as well as their appearance along the Miami skyline.

Icon Bay, 460 NE 28th Street
Developed by the iconic Related Group, Icon Bay is situated facing Biscayne Bay.  With construction underway and already to the fourth floor, this building is sure to be an Edgewater landmark.  When complete, the 40-story condominium will feature unbelievable panoramic views from every residence and luxury details.  With only 8 units on each floor ranging in size from 900 to over 2,000 square feet (penthouses), a water park and all the community amenities that are expected in a high-rise condominium of this caliber,  it is no wonder it has been so well received.  Its popularity is very apparent in the simple fact that the building is virtually sold out. 

Paraiso Bay, 600 NE 31st Street
Another brain child of Jorge Perez and the Related Group is glamorous Paraiso Bay.  Spanish for ‘paradise,’ this pre-construction condominium is tentatively scheduled to begin construction in the next few months.  It will be set on five acres that will include a beautiful new park.  The plans call for two- 55-story towers each housing approximately (345) one, two, three and four-bedroom units ranging in size from about 1,000 square feet to about 2,500 square feet.  Each residence will showcase glorious bay views.  Each floor will contain a maximum of seven units that look to be lined across the building.  One amazing accomplishment of Jorge Perez is that with the five-acre plot of land on which Paraiso Bay will be developed, he has successfully and permanently closed off 31 Street at the Bay in return for adding a park with playground equipment, lots of green space and more.  List prices for Paraiso Bay fall between the mid-$500s and over $1.1 million for units that range in size from just over 1,000 square feet to well over 2,100 square feet.  For more details, check out a recent blog entry and stay tuned for information as it becomes available.

Biscayne Beach, 711 NE 29th Street
Biscayne Beach is another pre-construction project in Edgewater tentatively set to begin construction in early 2014. The plans call for a 51-story bay front high-rise condominium with 399 units.  This masterpiece is under development by Eastview Development and GTIS Partners and will showcase Miami’s first manmade beach club directly on Biscayne Bay.  Biscayne Beach residences will offer one, two, three and four-bedroom options in addition to penthouses with private rooftop garden terraces.  Every unit will also have floor-to-ceiling windows, large balconies and beautiful Biscayne Bay, Miami Beach and city views.  List prices range from the mid-$400s to well over $1 million for units with sizes between almost 900 square feet and over 2,100 square feet (penthouse prices available upon request).

A Growing Neighborhood in Miami
With Miami condominium construction in such a growth mode, Edgewater is definitely a growing neighborhood.  In the aforementioned Miami Herald article, Carlos Rosso, President of Condo Development at Related Group said that “Edgewater’s layout works well for high-rise condos” as it sits in a prime area of Miami with Biscayne Boulevard running parallel to the Bay is the major thoroughfare of Biscayne Boulevard with shops and restaurants. He said “it’s an attractive area.  It’s got good bones.” That refers to its structure and placement with the Design District, Midtown and the Wynwood Arts District surrounding it. With more and more developers gobbling up parcels of land, it will be fun to watch Edgewater become one of the most sought after neighborhoods in Miami – it is not already there.

Wednesday, October 16, 2013

Parc Lofts Miami

Built in 2005, Parc Lofts is a boutique condominium of loft-style residences that are some of the coolest properties in all of Miami.  The six-story building is comprised of 72 units in which ceilings are 15 to 20 feet high ranging in size from 750 to over 4,300 square feet.  Over the years, as the newer neighborhoods in Downtown have begun to emerge, Parc Lofts has truly grown in popularity when it comes to Miami condominiums.  With its industrial look and exposed walls and pipes, Parc Lofts is an authentic loft condominium that is contemporary in design. 

Located in the Performing Arts District of Miami, Parc Lofts is perfectly situated between Downtown Miami and the new and hip Design District.  It is very close to many of the area’s favorite spots like the Carnival Center for the Performing Arts, American Airlines Arena, and Bayside Marketplace which are within several blocks as well as being only minutes from Brickell, South Beach, Coral Gables and other popular spots around Miami-Dade.  On top of all that, the major transportation hubs are a short drive from Parc Lofts.

Amenities at Parc Lofts
Parc Lofts is an amazing place to live.  Location is first and foremost one of the best amenities to living here.  From there, all of the residents have the ability to enjoy a state of the art fitness center, outdoor pool surrounded by a beautiful and tropically landscaped sundeck, indoor parking with an optional hydraulic lift for a second car, 24-hour security, doorman, a huge freight elevator and so much more.  And, let’s not forget the lenient pet policy that has no restriction to size at all – can we say pet friendly?

Inside each loft, there are exposed steel and concrete beams and columns in wide open areas, spacious and large walk in closets, terraces with aluminum railings, modern stainless front paneled kitchen with high-end appliances, poured concrete counter tops and Dellacasa cabinetry.  Additionally, each residence is pre-wired for telephone, fax, computer, and cable’s most advanced technology and has unique fixtures and finishes that add to the appeal of the entire condominium.  Basically, they are really cool lofts that have so much character.

Real Estate at Parc Lofts
Units at Parc Lofts are a hot commodity.  When one comes on the market, it is snapped up at a fairly quick pace.  Since there are only 72 total units in the condominium, there are never more than a few for sale at one time. 

Currently there are only three one-bedroom lofts listed for sale with list prices falling in the mid-$400s.  In fact, only three properties have sold thus far in 2013 with sale prices between the low-$200s and high-$300s (all one-bedrooms) and an average number of days on the market at about 75 (just over two months).  In 2012, only five sold within the entire year with an average number of days on the market at 96 days. 

As for Parc Loft rentals, the units that are offered as annual rentals go quickly as well.  There is currently only a one-bedroom rental available with a monthly rate of $2,400.  In considering the list and sale prices along with the rental rates, Parc Lofts are a great investment. 

Cool Living at its Best

Living at Parc Lofts is cool living at its best.  There is no doubt that these loft units have their own style.  The best part is that each owner has the ability to make his/her loft individually.  Parc Lofts is a solid investment in Miami real estate with a huge WOW factor as a bonus!  

Monday, October 7, 2013

MIDBLOCK at Midtown

Originally built prior to the recession, MIDBLOCK at Midtown is a combination of lots, townhouses and tower units.  It was developed by the Midtown Equities and designed by renowned architect, John Nichols, and became a rental community as opposed to individually owned units in a condominium property.
In the last few weeks, MIDBLOCK’s sales were launched to a very warm reception by prospective buyers.  With the huge demand on Miami real estate in the Midtown, Brickell and surrounding neighborhoods, MIDBLOCK is destined to be a well-sought after address for many Miami residents.

Location of MIDBLOCK at Midtown
Located at 3250 NE 1st Street, in the center of Miami’s Midtown neighborhood, MIDBLOCK is close to everything in one of the most popular cities in the world.  Located minutes from the arts, culture and entertainment in the surrounding neighborhoods like Wynwood and the Design District, MIDBLOCK is steps away the best retail locations and favorite restaurants around town.  Midtown is Miami’s equivalent to SoHo in NYC and is only five minutes from Miami Beach and in close proximity to I-95 making the Port of Miami and major international airports easily accessed. 

Amenities at MIDBLOCK at Midtown
This boutique condominium features some of the best amenities in this part of Miami.  Designed by renowned architect, John Nichols, this spectacular condominium offers residents excellent amenities like 24-hour concierge and security, a rooftop gathering area along with a large swimming pool, a state of the art fitness center with private training, covered gated parking, key card access controlled elevators, and ground level retail and restaurants.

In each unit, owners enjoy a private terrace, floor to ceiling impact resistant windows, a large kitchen with stainless steel appliances, custom cabinetry and stone counter tops, master suites with large master baths and spacious walk-in closets and more.  The floor plans call for spacious living areas with 10-foot exposed concrete ceilings for a very modern lofty atmosphere.  The lofts are laid out for a live-work lifestyle while the tower units and townhouse offer two bedrooms.  All units are pre-wired for electric, cable, high-speed Internet and come with a full-sized washer and dryer.

Real Estate at MIDBLOCK at Midtown
The mix of residences at MIDBLOCK include apartment units, townhouses and loft units that range in size from about 890 square feet to over 2,800 square feet.  Since the units at MIDBLOCK at Midtown have been rental units, many of them are under lease agreements that end between the remainder of this year into 2014.  MIDBLOCK is an excellent investment opportunity because of the strong rental histories and the fact that many currently have renters in them.  

List prices vary with one-bedroom tower units ranging between the low to mid-$300s to high-$300s while lofts range from the mid-$300s to low-$600s.  For two bedrooms residences, tower units fall between the mid-$400s and upper-$700s with townhouses starting in the upper-$400s and climbing to over $600K. 

Continued Growth in Midtown Real Estate
MIDBLOCK is another example of the continued growth in Midtown real estate.   This condominium property is an architectural showpiece with beautiful views and easy access to everything.  For full-time residents who work in the area or who have the ability work at home, this is a great spot to settle.  For investors, buying rental property with strong rental histories and leases in place puts the investment at an advantage.  MIDBLOCK definitely offers some of the best options in Midtown condominiums.

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