Miami, Florida
View all the information for each project within Brickell Key and Brickell Avenue condominiums. See Brickell Condominium Directories.
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Jul. 10, 2008
About Bayshore Place Condo
Year Built: 1973
Number of Floors: 17
Number of units: 77
Sq. Ft. range: 750 - 2,050
Beds: 1-3
Baths: 1-2
ENTER CONDO HOME PAGE
Bayshore Place Amenities:
- 24-hr Security
- Covered Parking
- Pool
- Spa
- Gym
- Walking distance to Brickell Avenue
Bayshore Place Condo
The Bayshore Place condo is a quality, well built property in Brickell Miami. The condominium community amenities include a picnic area and the ever useful pool and spa for those hot Miami summers. Residents also benefit from covered parking areas, 24 hour security and an exercise room. With its water views, as well as easy ocean access, the Bayshore Place Condominium is a real Florida jewel.
Bayshore Place Condo in Miami represents a great investment opportunity for the buyer or simply a nice place to rent and live! Bay views are on offer, as are covered parking spaces. Enjoy ocean breezes from your condo balcony.
Jul. 10, 2008
Brickell Shores Condo Miami
Brickell Shores condo year built: 1978
Floors: 10 units: 77
Condos Floor plans Sq. Ft. range: 750 - 2,050
Beds: 1-3 Baths: 1-2
ENTER CONDO WEBSITE: BRICKELL SHORES CONDO
The Brickell Shores condo is a quality, well built property in Brickell Miami. The condominium community amenities include a picnic area and the ever useful pool and spa for those hot Miami summers. Residents also benefit from covered parking areas, 24 hour security and an exercise room. With its water views, as well as easy ocean access, the Brickell Bay Tower Condominium is a real Florida jewel.
Brickell Shores Condo in Miami represents a great investment opportunity for the buyer or simply a nice place to rent and live! Bay views are on offer, as are covered parking spaces. Enjoy ocean breezes from your condo balcony.
Miami Brickell Condos
Jun. 26, 2008
The Commodore Bay condo is relatively recent build property in Miami.
ENTER HOME PAGE: COMMODORE BAY CONDO
The Commodore Bay condominium community amenities include a picnic area and the ever useful extra storage area. Resident also benefit from covered parking areas, a swimming pool, 24 hour security and an exercise room. With its water views, as well as easy ocean access, the Commodore Bay condo is a real Florida pearl.
Commodore Bay Condo in Miami represents opportunity for the buyer or simply a nice place to rent and live,
Bay or ocean views are on offer, as are covered parking spaces. Commodore Bay is locates next Brickell Avenue. The Brickell Avenue is the name given to the stretch of U.S. Route 1 in Miami, Florida just south of the Miami River. It is the main road through the Brickell district of Downtown Miami, and is considered to be one of the most prestigious avenue names in the united state, as it is associated with big business, wealth and finances.
The Brickell Avenue start from the Miami River south it continues south-southwest and upon crossing the four seasons condo hotel it curves southwest and continues in that direction until it terminates at Southeast 26th Road/Rickenbacker Causeway (to key Biscayne), becoming South Federal Highway for a short distance (about 1/4 mile) until it becomes South Dixie Highway
Brickell Condos Search
Jun. 24, 2008
About Nordica Condo
Year Built: 2007
Developer: Astor Development
Number of Floors: 17
Number of units: 128
Sq. Ft. range: 693 - 1,238
Beds: 1-3
Baths: 1-3
Nordica Condo Miami Amenities: Concierge, 24-hr Security, Covered Parking, Pool, Gym, Jacuzzi, Tennis Court, Executive Center
Nordica Lifestyle
Enjoy Nordica's modern sophisticated lifestyle, where you'll experience the verge of Brickell urban city living. Each Nordica residence displays Italian designer kitchens soaring 10 foot ceilings topped by impressive 12 foot ceilings in the penthouse and all private oversized balconies. Complete with a full highly equipped high tech fitness center, a soothing pool area and an elegant Club Room. Nordica's recreation center is encompassed by panoramic city and ocean views. Every amenity is designed to complement your success. From the discreet full service concierge to the efficient valet parking. You'll experience a subtle pampering worthy of its surroundings.
May. 21, 2008
Investor Report: Miami-Dade County
by Kenneth R. Harney
Every real estate investor knows the old saying: "Buy when there's blood in the streets."
Well that's what's going on right now in the Miami-Dade county condominium market, according to Jack McCabe, one of South Florida's most active consultants to hedge funds, "vulture funds" and other investors looking to pick up properties at 35 to 50 percent discounts off previous asking prices. It's no secret that Miami-Dade has the country's most crushing glut of unsold, unoccupied condo projects, with 25,000 sitting for sale -- a five year supply at current purchase rates -- plus another 19,000 units at some stage of approval or construction.
But McCabe, who is CEO of McCabe Research in Deerfield Beach, warns that getting great deals is not as easy as you might imagine. Many condominium projects are tied up in litigation, which can complicate the ability of unit owners or developers to close deals. Plus financing is getting very tough. Most banks have lists of local projects where they won't lend under any circumstances, and private mortgage insurers have bailed out of Miami-Dade like it's a toxic wasteland. So "cash is king," says McCabe. High leverage is out, because you can't find high-leverage loans. If you want to pick up units at half the previous price, he says, be prepared to belly up to the bar with 40 or 50 percent equity.
Better yet: Buy in bulk. Join forces with other investors to pool funds to pick up packages of distressed units from developers and banks who want to unload REO holdings quickly. "Due diligence" in all this is crucial. You've got to know the project, the developer, the unit owners and condo association situations in depth -- and the competition on the market -- to avoid costly mistakes. For example, McCabe has seen bargain-hunting investors pay $400,000 apiece for units and think they got a steal. Then a few weeks later they discover that the developer sold a big package of comparable units in the project for $250,000 apiece, putting the $400,000 buyers deep in a hole they never saw.
Buying real estate is not the only opportunity in hard-hit Miami, by the way. Some smart investors are focusing solely on what they call "distressed debt" -- they buy the underlying mortgages of condo units at deep discounts from banks. Then they try to work with unit owners to recast the loans into more affordable terms that keep the payments flowing, keep the owners in their units, and turn "nonperforming" mortgages into outstanding long-term investments.
It's all about seeing the opportunities, says McCabe. And playing the condo game with your eyes wide open.
Published: May 2, 2008
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May. 5, 2008
Brickell condos distress grows
By Marilyn Bowden
The Brickell Avenue condo (enter brickell avenue condo page) market continues to struggle, and experts say it's not likely to turn a corner before all the buildings under construction are completed. Brickell Avenue condo units account for 86 of the 223 distressed properties east of I-95 in Miami-Dade County listed in the Vultures Database maintained by CondoVultures.com. That's the largest number of any one market in the county. CondoVultures defines as "distressed" any property in the foreclosure process, permitted by the lender to be sold for a price that is short of the amount owed by the borrower or owner, or owned by a lender after failing to sell at a court-ordered foreclosure auction. After being on the market an average of 344 days, according to this database, the distressed Brickell condos have dropped a mean 34% in price. That's comparable to mean figures in other areas. Biscayne Boulevard's distressed properties show a mean drop of 35%, and Coral Way a 33% mean drop. "These numbers are mind-boggling," said Peter Zalewski, CondoVultures' founder. "I think one of the reasons Brickell is suffering from so many distressed property sales is that it's a place where speculators thought prices would only go up." Because Brickell is an established market as opposed to pioneering markets like Biscayne Boulevard, he said, speculators who wanted to hedge their bets thought their chances of renting out a Brickell unit would be much greater — but that has turned out not necessarily to be the case. CPA Monte Kane, managing director of Kane & Co., said the amounts of the mortgages foreclosed on that he has seen in the market are high. "When they exceed fair market value, it should be no surprise that this trend is going to continue," he said, "and with prices dropping, it will only get worse. "The biggest issue is what it means for the financial health of the associations that have to operate these buildings." In addition to people opting out of closing on units that have dropped in value, Mr. Kane said, banks are enforcing tougher rules on lending and private mortgage insurers are using tougher guidelines. "In some parts of the country they are blacklisting buildings that they will not offer mortgages on, though I haven't seen that in Miami yet. "I think we will see bankruptcies and receiverships. That will not be a pleasant thing. It takes years to go through that process. Developer, owners and lenders all have different desires, so receivers need to really follow the book." Mr. Zalewski projected that realistically, the Brickell condo market won't turn around until all units under construction are completed, which won't happen for six to nine months. "Then investor groups need to come on and buy large blocks of units," he said. "They will begin with rentals, with the idea that since they will be able to supply a superior product at a subsidized rate, so they will be able to steal away tenants from South Beach, Kendall and Aventura. "That will be their marketing strategy as they buy available bulk product, so we will see tremendous rental opportunities advertised." Mr. Zalewski estimated it will be three to five years "before Brickell begins to hum again, as opposed to four to seven years downtown and seven to 15 in the Biscayne corridor." Although new buildings don't appear to have very high occupancy as they open up, Mr. Kane said he doubts they will face the same high foreclosure rates as their predecessors. "What we are seeing now," he said, "are the effects of the early stages of the boom. It's those who bought at inflated prices who are foregoing their deposits."
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May. 1, 2008
Miami Condo Market Competitive Spirit Hold On
Thursday, May 01 2008 @ 02:36 AM Central Daylight Time
It is important to consider that one of the popular demands in Miami is the condo market. So I assume that most of the investors and developers in the area are aware of the possibility that the market is indeed in higher contention although the common perception is that Miami is on a downward slide, let me state some facts that can be significant to the people who are investing in the market in such desire. I think that by pointing out how Miami condo market is fairing out will make people realize what it is going through and where does they stand in part of the market’s life in Miami.People from all over the world are attracted to the vibrant Miami area and its supreme climate for relocation. The Miami condo market is very diverse and offers a large number of different solutions for those interested in purchasing or renting a condo. The recent decrease of the dollar value on the international market has made Miami condos an even more interesting option for many Europeans looking for a home away from home, a place in which to retire or just a good investment. Miami condos are also popular among vacationers as well as investors. This is naturally true for Miami real estate as well.Location is the mantra of the real estate business and this is naturally true for Miami real estate as well. Just by choosing a condo a few blocks away from the beach you can save huge amounts of money. A Miami ocean view is astonishing, but certainly not for free when we’re talking real estate. The beach front condos are the most popular ones and consequently the most expensive ones to obtain. The Brickell region is commonly referred to as the Wall Street of the South and the condominium towers share the space with over 60 commercial banks. The Brickell community is inhabited by people who want to avoid long hours of commuting. This area is typically marketed as a stricter and upscale alternative to South Beach a neighborhood ideal for those who prefer a downtown environment instead of a sandy beach. The condos in Brickell are however still very reasonably priced compared to the condos located at Miami Beach. In Brickell it is possible to be close to work as well as to downtown entertainment, but still live in a relaxed area suitable for recreation. The fact that popular South Beach restaurants are beginning to setup finials in Brickell is only one of the signs that predicts how Brickell will turn into an even more sought for area in the future. A Miami Beach condo of the same type as the $200,000 Brickell condo would cost you at least $500,000. Downtown Miami has seen a lot of new development recently. Further expansion down Miami Beach is naturally another extremely lucrative business for Miami real estate developers since the Miami real estate market shows no signs of cooling down, particularly not when we’re talking ocean front properties.
By: Jron Magcale
Apr. 30, 2008
Florida Real Estate Inventory: A 5-year Condo Glut
A great article in Builder highlights Jack McCabe’s research report which calculates that the Florida condo market has a whopping 5 years worth of inventory with cranes still hovering over new developments.
Talk about a real estate buyer's market in Florida - from now until whenever. Worried about missing the bottom? If you are in Florida you will only miss the bottom if you die - otherwise, don't worry about finding when the bottom of real estate market in Florida is.
From the article on the massive inventory of condo’s in the Florida market:
"According to the Florida Association of Realtors and market expert Jack McCabe of McCabe Research and Consulting (www.mccaberesearch.com), there is currently a five-year supply of condo and townhouse units on the market in Dade County, which represents an inventory of more than 24,000 units. Not surprisingly, prices have dropped accordingly. Median sales prices for existing condo units in Ft. Lauderdale, Miami, and West Palm Beach/Boca Raton fell 10 percent from 2006 to 2007 and now range between $171,000 and $263,500.
"Unfortunately for the housing market, McCabe believes the situation will only get worse in 2008 and 2009. More than 19,000 condos are scheduled for completion in Miami-Dade County this year, with 6,400 additional units expected in 2009. “There are over 15,000 more condos under construction in Miami-Dade right now than were built and absorbed in 1995-2004,” says McCabe, who estimates absorptions during that time at 1,000 units to 2,000 units per year."
Source: By Blown Mortgage
Oct. 17, 2007
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Brickell Key Condominiums
Brickell Key is one of the most unique island communities in the world
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Oct. 10, 2007
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Description:
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SEE HOME PAGE:
SANTA MARIA CONDO
BRICKELL
Year Built: 1997
Architect: Ugo Colombo
Number of Floors: 51
Number of units: 174
Sq. Ft. range: 2,100 - 10,000
Beds: 2-7
Baths: 2-7
Santa Maria Brickell Condo
Amenities:
- Guard on Gate
- Concierge
- 24-hr Security
- Covered Parking
- Pool
- Gym
- Jacuzzi
- Tennis Court
- Health Spa
- Private Marina
Santa Maria Condo on Brickell Ave
Santa Maria rises 51 stories above the Miami skyline on the last remaining parcel of prime waterfront
property ideally situated between Brickell Avenue and Biscayne Bay. The inherent value of the site is
enhanced by the creative interplay of dramatic architectural lines, stunning vistas of the Bay, abundant
social and recreational amenities, and lushly landscaped grounds that include a hardwood hammock and gumbo
limbo trees.
http://www.dienerproperties.com/santa-maria-brickell-condo.htm
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