Affordable Brickell Condominiums

Brickell real estate is on fire with closings taking place almost every day. Whether property in a new construction condominium or one that is established and may have buyers chomping at the bit to buy property, Brickell combines the best of a top metro area with a tropical atmosphere and landscape.  And, yes, other major metro areas feature waterfront property but no other offers panoramic views of crystal blue waters paired with the feeling of the Florida sunshine and balmy breezes.

An article in yesterday’s South Florida Business Journal stated that “Miami's Brickell financial district is among the 10 most expensive markets in the Americas to lease an office.” The article went on to state that even though it is one the most expensive, it is still substantially less than the equivalent in New York’s Midtown (about $50 per square foot compared to $130).  Because of this, companies from New York to Sao Paulo are coming to Brickell to open offices.

Real estate listings in Brickell range from about $100K to about $1.5 million making it possible for most any buyer to afford property. To provide insight as what you get for you money, here are a few affordable Brickell condominiums:

500 Brickell, 500 Brickell Avenue

Situated in the heart of Brickell, 500 Brickell Condo features two 43-story buildings with over (600) one, two and three-bedroom residences.  Its eclectically modern façade makes it very evident that it is a Related Group/Arquitectonica development that was completed in 2008.  Residents enjoy many amenities including the interactive touch panel located in each residence giving them a smart-home advantage. It exudes a metropolitan feel due to its location within walking distance to Mary Brickell Village, excellent restaurants, the Miami River Walk and more. One of the biggest attributes is that 500 Brickell appeals to all home buyers including first-time buyers.  Real estate list prices start in the low-$300s and top $2 million. Over the last six months, nine units have sold with the average number of days on the market at 218 days.  Three one-bedrooms sold from the upper-$200s to mid-$300s while six two-bedrooms sold with sale prices in the mid-$400s.  Sale prices sold at about 95 percent of list price for both levels. 

For Sale at 500 Brickell

1060 Brickell, 1060 Brickell Avenue

1060 Brickell condo features two towers with a total of 570 residences in two towers located on 1050 and 1060 Brickell Avenue. Built in 2008, this grand condo features unbelievable views, a 12-story parking garage and 24,000 square feet of retail space.  The two towers, 34 stories and 45 stories, offer a variety of floor plans ranging from studios to lofts and penthouses with oversized floor-to-ceiling windows and large terraces to enjoy the Bay breezes and beautiful views, roomy kitchens with stainless steel appliances and more.  For those who work in the center of Brickell, 1060 Brickell is the ideal location as it is close to everything in the area including consulates, Mary Brickell Village, grocery, and more. List prices fall between the high-$200s and the upper-$600s with larger residences topping $1 million making it affordable for many potential buyers.  In the last six months, there have been a total of 10 closings at 1060 Brickell.  Three studios sold in the mid to upper-$200s and averaged about 105 days on the market to sell; six one-bedrooms had sale prices from the low to upper-$300s and averaged about 155 days on the market; and, finally, only one two-bedroom unit sold at $420K but took over 430 days to sell, however, four other two-bedroom properties sold in 2014 with an average number of days on the market at only 74 days.

1060 Brickell Listings

My Brickell, 30 SE 6^th Street

Designed by Karim Rashid and developed by The Related Group, My Brickell is one of the most distinctive condominiums in Brickell.  With 192 units on 28 floors, there are a range of floor plans for studios, one and two-bedroom units with square footages ranging from 550 to almost 1,300 square feet and modern fixtures and finishes throughout each unit.  The building offers magnificent water and city views as well as unique open and lofty design, modern kitchens with stainless steel appliances and a slew of amenities that make residents feel like they are on vacation – think resort-style pool, large state-of-the-art fitness center and more.  As a new condominium completed just last year, there have already been six sales since November 2014 with sale prices between the mid-$200 and mid-$400s and the average number of days on the market at about 132 days.    List prices start in the mid-$200s and climb to about $600K.   My Brickell is a top pick for buyers who want a very metropolitan lifestyle combined with the eclectic feel that only Miami can convey.  It is centrally located within walking distance to everything in Brickell and only a short trip to the beaches.

Available Properties at My Brickell

Lots of Options in Brickell

Brickell is in a major growth mode. There are lots of options in Brickell for all buyers from buildings that have been around for years to those that have just been completed to even more in the works.  The best way to find what you want is to explore the area, select a location in this widely, sought after neighborhood, then begin the process of buying in Brickell. 

Top Five Brickell Sales Under $500K in 2013

Brickell real estate is definitely on fire.  With almost 900 properties priced under $500K on the market and over 200 closings in the same category of properties since the beginning of the year, it is evident that the market has rebounded.  Additionally, there are new condominiums under construction with more plans in the works.  It is an excellent area for many Miami real estate buyers including first-time buyers and investors.  With this in mind, the big question seems to be “what does $500K buy in Brickell?”  So, to answer it, following are the top five Brickell sales under $500K in 2013:

475 Brickell Ave #BAY 701, Icon Brickell One, Sale Price:  $499,000

At Icon Brickell, a buyer purchased a one-bedroom, one-bath Bayliner unit.  This home has a contemporary-designed kitchen with stainless steel appliances, granite counter tops, and sleek cabinetry.  The main living area’s predominant attribute is the sliding glass doors that showcase a balcony looking out to the beautiful water and city views just like that in the master bedroom.

495 Brickell Ave #5409, Icon Brickell Two, Sale Price:  $489,500

This one-bedroom, one-bath floor plan is the larger one-bedroom plan with 1,035 square feet.  From the location in the building, there are beautiful city and bay views that go out as far as the eye can see.  Like the others in the building, kitchens feature granite counters, stainless steel appliances and contemporary cabinetry. 

For Sale at Icon Brickell

For the most part, $500K affords buyers a one-bedroom, one-bath unit (every so often a two-bedroom lists at this level). Icon Brickell is one of the prominent condominiums in the entire area.  With its unique architectural design, it is also probably the most recognized buildings.  Included on the property are three towers of which one is the Viceroy Hotel where all residents of Icon Brickell have access to the hotel amenities.  Even though the building is only four years old, units have been individually designed in terms of fixtures and finishes.  Icon Brickell offers its residents wonderful extras like a two-acre pool deck surrounding an infinity edge Olympic sized pool, Jacuzzi, reflecting pool, concierge, valet, security and more.  While list prices range from the low-$300s for a studio to over $2 million for an upper level three-bedroom, rental rates fall between $1,800 and about $9,000 per month.

1420 Brickell Bay Drive, #1101A, Bayshore Place, Sale Price:  $495,000

Bayshore Place is situated on Biscayne Bay with the most spectacular views imaginable.  Of the only six units sold since 2011, this unit has the highest sale price.  It encompasses three bedrooms and two baths in 1,433 square feet. 

For Sale at Bayshore Place

Rarely ever is a unit at Bayshore Place listed for sale.  When it does, the property is quickly scooped up.  Built in 1973, Bayshore Place is a boutique condominium with only sixteen floors and 123 total units.  This is the quintessential classic Miami condominium and offers one, two and three-bedroom residences with square footage ranging from 854 to 1,433 square feet.  Some of the amenities include a gym, covered parking, a picnic area, swimming pool and amazing bay views.  As for rentals, investors can expect to get anywhere from $2,200 to over $3,000 depending on the location and size of the unit. 

951 Brickell Ave #2311, The Plaza on Brickell, Sale Price:  $492,000

At the Plaza on Brickell, it is very realistic to expect to find a great two-bedroom, two-bath unit with beautiful views.  Of the (25) two-bedroom units that have sold since the beginning of the year, sale prices have ranged from $400K to $650K. Units have a modern design with contemporary fixtures and finishes.  The kitchens have granite counter tops, stainless steel appliances and contemporary cabinetry. 

For Sale at the Plaza on Brickell

The Plaza on Brickell features 1,000 one, two and three-bedroom units in two buildings.  With 440 units on 44 floors in the west tower and 56 floors containing 560 units in the east tower, there are lots of options for property ownership.  List prices fall in a broad spectrum from the low-$300s to about $2 million.  As for real estate investors, rental property ranges from about $2,000 for one-bedroom rentals to over $3,000 for a two-bedroom rental.  Rentals are based on primarily on annual leases although short-term rentals are allowed for a minimum of 30 days with the maximum number of times at 12 each year.  As with short-term rentals, monthly rental rates are typically a little higher as the residence is furnished and renters expect to pay more.

1155 Brickell Bay Drive, #PH208, The Mark on Brickell, Sale Price:  $490,000

With a very uniquely designed interior, this two-bedroom, two bath penthouse located in a part of the condominium with private access sold just under $500K – a penthouse for under $500K.  It was remodeled to feature a bathroom with a wet-room shower, glass blocked wall, a very contemporary kitchen and so much more.  Some of the amenities are 24-hour valet and security, a nice pool area, tennis courts and more.  

For Sale at The Mark on Brickell

Built in 2001, The Mark on Brickell has 360 units on 36-stories comprised of one, two, and three bedroom suites and penthouses. Several condos in the Mark on Brickell include large bedrooms with walk-in closets, storage rooms, and screened patios, while all have large balconies with beautiful views of the city, Intracoastal Waterway and the Atlantic Ocean. List prices range from the mid-$300s for a smaller one-bedroom unit to almost $1.4 million for a three-bedroom penthouse.  Recently sold units show that of the six units that have sold thus far this year, the two bedroom units had sale prices in the mid-$400s (not penthouses).  Sale prices, overall, range between the mid-$200s and over $1 million (three-bedroom penthouse).

Tons of Opportunities with Brickell Real Estate

Brickell real estate offers some of the most chic and upscale living in all of Miami.  With the energy similar to NYC blended with the tropical and exotic atmosphere in Miami, so many people long to live in Brickell.  Since there are tons of opportunities with Brickell real estate, the dream is a very realistic possibility.