Tuesday, November 25, 2014

My Brickell Rentals: Cool and Affordable Luxury

A few months ago, we introduced My Brickell to you.  My Brickell is the brain child from famed designer, Karim Rashid, along with renowned developer, Jorge Perez, Arquitectonica’s Principal, Bernardo Fort-Brescia, and famed landscape designer, Raymond Jungles.  This creation, unlike anything that has been built in all of Miami, has been so well received that following a complete sell out, re-sales are underway with increases in list prices topping 70 percent. 

My Brickell Rentals
Along with a high demand on sales, My Brickell rentals are also a hot commodity as the condominium, itself, has that edgy appeal that draws so many renters who want to be in Brickell.  Early on, investors saw the value in My Brickell real estate and sought to be part of something that was going to stand out in the pack of the new wave of development taking place in Brickell.  And it appears they hit the nail on the head.

In the last six months, there have been 28 rentals have been leased.  Studios with a little more than 600 square feet have monthly rentals falling between $1,500 and $1,650 while one and two-bedroom monthly rentals range from about $1,900 to well over $3,000.  The overall price per square foot falls between $2.00 and $3.00. 

Available My Brickell Rentals
It is interesting to note that the one studio rental available has a monthly rental of $1,790 – an 8 percent increase over the highest rental rate paid in the last six months.  As for one-bedroom rentals, there is only one penthouse unit available with a monthly rate of $2,250.  Two-bedroom rentals are available with rates ranging from $2,450 to $3,300 which is comparable to the prices of recent My Brickell rentals

My Brickell Amenities
It is no wonder that My Brickell is such a hot spot.  The condominium provides numerous amenities that have a trendy, “now” kind of feel to them.  Orange is the signature color and it appears everywhere even if it is just a fleck in the carpet. The state of the art fitness center, the inviting and happy pool deck with a cool pool bar, game room with an orange pool table, no less, and expansive art deco-style lobby make this condominium absolutely all the rage.  

When creating My Brickell, the goal was to make it as pedestrian-friendly as possible.  With that in mind, there is parking next door but only one and two bedroom residences come with one assigned parking spot while studios must use valet parking.  Let’s face it – because of its location, you do not need a car unless you want to go to the beach but just make sure you have a friend with a car.

Residences are spacious and have a loft-style feel to them.  Studios are a little over 600 square feet and the largest two-bedroom/two-bath has over 1,300 square feet.  The kitchens feature stainless steel appliances and tiled back splashes and are designed as a loft would lay out a kitchen.  Views from the residences showcase the city and water.  The living area is open and airy, and the master bedrooms have very nice walk-in closets.

Do Not Delay
With this in mind, there are currently 10 rentals available at My Brickell.  But be sure to act if you like one as it seems more and more people in Brickell want to live at My Brickell.  

Thursday, November 13, 2014

Five Affordable Downtown Miami Rentals

In a recent Daily Business Review article, experts believe that rental rates in Downtown Miami are on the rise.  Harvey Hernandez, Managing Director, Newgard Development Group, stated that with the population influx in this part of Miami, the booming neighborhood is “not going to have enough product to cover the demand." Hernandez said based on predictions for a population influx in central Miami. He further stated that he anticipates the rental rate per square foot to jump from the current $2.25 to $2.50 to about $3.25 which is aimed at “the professional who wants to be centrally located," he said.

When comparing rentals, two and three bedroom units are a better value when looking at the price per square foot.  With that in mind, it is still possible to find a great, roomy Downtown Miami rental with over two bedrooms in a well sought-after condominium.  Here are five condominiums with two-bedroom residences for well under $3.00 per square foot.

The Loft Downtown, 234 NE 3rd Street.   Located in the heart of Downtown Miami, The Loft Downtown is a Related Group project built in 2005.  It is within walking distance to everything so that you can virtually park the car and walk everywhere which is ideal for those who work Downtown and in Brickell.  With only nine units have an urban loft-style design with exposed walls and pipes they are pre-wired for high-speed internet and cable TV access as well as have modern fixtures and finishes energy-efficient and impact resistant sliding glass doors and windows, and nice size balconies.  Community amenities include a pool with thermal waterfall, Feng Shui seating areas, tea garden and convenient juice bar fully-equipped fitness center and 24-hour concierge.  In terms of rental rates, the prices start under $2 per square foot and climb to just under $3 per square foot with monthly rentals falling between about $1,500 and $2,200 per month. 

The Loft II Downtown, 133 NE 2nd Avenue.  Another condominium situated just around the corner from its sister building and built in 2007 is the Loft II Downtown.  This condominium is slightly larger than the other with 36 stories and 495 residences.  Not only is it close to everything, it has a MetroMover stop right in the building making it easy to move through Miami without a car.  It has a loft-style design in each residence with room to move and updated fixtures and finishes along with high-speed internet, cable TV access and balconies with beautiful views.  Community amenities are similar to its sister property with a pool, state of the art fitness center, 24-hour concierge, and a gated-access garage.  Rental rates for two-bedrooms fall within the $2,000 to $2,500 range.  Additionally, rental rate per square foot for two-bedrooms skirt the $2 per square foot range.   

One Miami, 325 Biscayne Boulevard.  One Miami is a Downtown Miami landmark that features 896 units on 44 floors.  With 11 floor plans offering studios, one, two and three-bedroom units, the location of One Miami offers amazing views of the city, South Beach, and water views.  Inside each unit, you can expect to European kitchen cabinets with stainless steel sinks and granite countertops along with imported tile in the kitchens and bath, and impact resistant glass doors and windows that lead out to balconies with amazing views.   Additionally, residents have access to wonderful pool with tropical landscaping surrounding it, a fitness center with state-of-the art equipment, assigned parking, 24-hour valet, security, concierge and housecleaning, and a lot more.  As for rental rates, one and two, and three-bedroom residences fall between about $1,600 and $4,500 per month.  As a comparison, for the most part, the price per square foot for One Miami rentals ranges from about $2.10 to $2.75 with a handful about $3 per square foot. 

Opera Tower, 1750 North Bayshore Drive.  As a slightly more expensive condominium when comparing on a price per square foot basis, it does not get much better than Opera Tower rentals.  Situated just across the street from Margaret Pace Park and Biscayne Bay, this is a luxury condominium in the truest sense of the word.  Inside there are studios, one and two-bedroom units available for rent with rental rates falling between about $1,600 and just over $3,000 with sizes ranging from about 500 square feet and just over 1,000 square feet.  Inside each residence, tenants enjoy beautiful kitchens with granite countertops, stainless steel appliances, and custom European cabinetry as well as spacious living areas, pre-wiring for digital satellite cable and high-speed internet access and floor-to-ceiling solar tint sliding glass doors that lead out to spacious wraparound balconies.  In terms of price per square foot, two-bedrooms offer the most value starting at $2.35 per square foot while studios may hit $4 per square foot.

50 Biscayne, 50 Biscayne Boulevard.   Located just across the street from Biscayne Park, 50 Biscayne is a gorgeous condominium with beautiful views and lots of restaurants and activities within a block or two.  Inside each residence, there are floor to ceiling glass windows that lead out to large balconies, large living rooms, large master bedrooms with walk-in closets, Smart Building wiring, large kitchens with plenty of counter space, custom cabinets and high-end stainless steel appliances, and more.  As for community amenities, tenants have access to a two-story fitness center, two-story club room, resort-style pool, high-speed elevators, 24-hour concierge, valet and security, and more.  Monthly rental rates range from about $1,600 to over $4,000 with price per square foot falling between about $2 to about $3.75 for a studio.  Like most other rental properties, two bedroom rentals offer the most value when comparing units on a price per square foot basis.

Rental Rates Will Climb
With downtown rentals, experts and developers see the potential with rental properties and are in a development mode with new construction throughout all of Miami.  They also indicate that they expect Downtown Miami rental rates will climb.  When comparing Downtown Miami rentals as well as those in other parts of this tropical paradise, looking at them on a price per square foot basis provides an accurate comparison. 

If you are thinking about renting in one of the Downtown Miami condominiums, now is the time to get serious.  Check out some of the units in one of these buildings as well as others. 

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