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Feb
03

Brickell City Centre update – February 2016

By: Ines Hegedus-Garcia on February 3, 2016

brickell city centre update by miamism.com

It’s so exciting to see the project going up!! If you are like me, every time you go by Brickell City Centre, you notice something new.  Well…the good news is that the project is close to being finished, here’s the latest update:

  • Reach, the first residential tower will get its TCO (temporary certificate of occupancy) as early as next week!!
  • Which means it will start closing immediately thereafter.  The tower is 94% sold.
  • Rise, the second residential tower (furthest west), is 45% sold and should get its TCO as early as April or May with May or June closing.
  • You can now buy with 20% down instead of 50% because of how close projects are to termination.
  • 90% of the office tower has been leased to a well known attorney firm
  • Saks Fifth Avenue will be the anchor to the mall
  • Expected opening date for retail side of Brickell City Centre is September 2016.
  • The Hotel is already taking reservations for May – “The East Hotel” a Swire brand out of Hong Kong.
  • Contact us for available inventory on either of the residential towers.

Brickell City Centre

Brickell City Centre

Brickell City Centre is a $1.05 billion mixed-use development. Strategically located in the center of the Brickell financial district, this is the single largest project currently underway in downtown Miami. Brickell City Centre is anticipated to bring a whole new level of urban living and sophistication to the area.

The first residential tower, Reach, is now for sale and already on 10th floor of construction.  This project is perfect for those that like to be in the middle of the action, close to everything.  There will even be a metro-mover station at Brickell City Centre that will connect you to the rest of Brickell and Downtown Miami.

Brickell City Centre overview

Brickell City Centre is a transformational mixed-use project by Swire Properties, same developers that did Brickell Key.  It’s a high-end shopping and entertainment center with 2 residential towers, 2 office buildings and a flagship hotel.  The Whitman Family, owners of Bal Harbour Shops are involved in the retail aspect of the project.  The whole project is designed by Arquitectonica with a sustainable and climate driven concept.

The only aspects of the project that will be sold to the public will be the residential towers, Reach and Rise.  The rest of Brickell City Centre will be owned and managed by Swire properties.  The first condo tower, Reach, is now for sale in pre-construction, averaging about $630/square feet.  These prices are expected to change according to demand and Brickell City Centre is already guiding prices for other projects in the vicinity.  When information becomes available about Rise, the second condo tower, we will let you know. (So check back with us)

Brickell City Centre Video

We would love to represent you in a purchase here, call us to schedule an appointment.

Remember our team is ready to help you with your Reach – Brickell City Centre purchase and of course surrounding condos as well. Call us for details 305.758.2323 or reachBCC@miamism.com.  We will be glad to send you a digital brochure on the property.

Condo Name:  Reach and Rise – Brickell City Centre
Architecture:  Arquitectonica
Interior Design:  Richardson Sadeki
Location:  701 S Miami Av – Miami, FL 33130
Contact:  reachBCC@miamism.com

Feb
01

How’s the Miami Shores Real Estate Market Doing? January 2016

By: Ines Hegedus-Garcia on February 1, 2016

I love Miami Shores magnet

How’s the Miami Shores Real Estate Market Doing?

There are currently 103 Miami Shores homes for sale:

  • Highest priced listing is $3,999,000 for the bay front home at 1300 NE 94 St (has been listed since December 2013)
  • Lowest priced listing is $265,000 for the foreclosure in need of repairs at 19 NW 109 St.
  • Pending Sales (Properties under contract): 26
  • Median Sales Price in January: $470,000
  • Closed sales in January: 8

The 8 Miami Shores homes sold in January were the following:

  • 161 NE 105 St – foreclosure listed for $395,000 in October of 2015 and selling for $375,000 ($296/sq.ft.)
  • 169 NW 97 St – originally listed for $449,000 in October of 2015 and selling for $425,000 ($262/sq.ft.)
  • 10417 NE 2 Av – originally listed for $529,999 in August of 2015 and selling for $330,000 ($180/sq.ft.)
  • 1561 NE 103 St – foreclosure listed for $475,000 in October of 2015 and selling for $455,000 ($229/sq.ft.)
  • 10635 NE 10 Ct – East of Biscayne Blvd – listed for $549,000 in August of 2015 and selling for $485,000 ($275/sq.ft.)
  • 1060 NE 105 St – East of Biscayne Blvd foreclosure – listed for $634,900 and selling for $711,000 ($285/sq.ft.)
  • 10659 NE 10 Pl – East of Biscayne Blvd – originally listed for $849,000 in 2014, with several price reductions and rented – finally relisted for $829,000 in June of 2015 and selling for $780,000 ($215/sq.ft.)
  • 285 NE 103 St – listed for $895,000 and selling for $800,000 ($251/sq.ft.)

The average price per square foot in Miami Shores in January was $249, compared to 2015’s average of $264.  It’s common to see decreases in the market on certain months, depending on the type of inventory that sells.  3 out of the 8 sales last month were foreclosures, that’s what makes the sales graph fluctuate.

Please do not interpret this slight drop to mean the market is collapsing in Miami Shores.  We like to explain it as a conservative market that continues to correct itself.  What’s important to point out is that homes that are in move-in condition are the ones selling for top dollar.

Today’s buyer finds it difficult to calculate updates and considers those a risk.  Homes that need work sit on the market longer and sell for less.

If you are a buyer in Miami Shores, pay attention to the average price per square foot.  The home that sold last year at $264/SF was an “average home”, in need of repairs – it was not an immaculate property where everything was updated – those sold in excess of $300/SF and in cases, close to $400/SF.

Miami Shores House of The Month

The Miamism Sales Team recommends the amazing historic, Mediterranean revival home designed by Kiehnel & Elliott and  built by the Shoreland Company in 1926 on Shoreland Blvd.

284 NE 96 St - Miami Shores

284 NE 96 St – Miami Shores

Amazing 6 bedrooms, 4 bathrooms and 2-car garage – over 3,351 sq.ft. of living space – all the bells and whistles expected from Kiehnel and Elliott:  cuban tile floors, wood-beamed ceilings, hand-stenciled woodwork, casement windows, arches…a true gem at $537/SF.

Asking price $1,799,000

Please contact us for more information and to coordinate a showing appointment.


To sign up to our Home Trend Reports, go to MiamismTRENDS.com and fill in your information.

Call us Today for a listing appointment!

If you are interested in getting a list of all properties currently for sale in Miami Shores, we will be happy to send you a digital copy at your request. We can also send you monthly market reports directly to your inbox. Feel free to email us at MiamiShores@miamism.com

Search for Miami Shores Properties

 

Jan
29

Miamism Fridays – Continuum South Beach

By: Ines Hegedus-Garcia on January 29, 2016

Continuum South Beach by Antoine Fletcher

Back to our Miamism Fridays series, this time with a magnificent aerial shot of The Continuum South Beach Towers, in South of Fifth or South Pointe, in Miami Beach.  What an amazing sunrise captured by photographer extraordinaire, Antoine Fletcher aka @aguywithanikon on Instagram.

Please go tell him that there’s nothing wrong with his photos looking like paintings, on the contrary!!  And to see more of Antoine’s work, please visit ALFSphotos.com

An ONLY IN MIAMI moment – a true MIAMISM!

Jan
26

Ten Museum Park, Miami – Real Estate Market Report for 2015

By: Ines Hegedus-Garcia on January 26, 2016

How is the Miami Real Estate Market doing?

Talk about a question that we hear on a regular basis but we cannot stress enough that you cannot generalize the real estate market because Miami is extremely large.  Price ranges vary drastically and it’s important for you to analyze your own area, neighborhood, subdivision, and in the case of condos … look at what is happening in your own building.

Of course exterior factors will affect your numbers, but always start from the inside out and know how your particular building is behaving.  In the case of Ten Museum Park, across from the Miami Airline Arena, we do monthly reports to keep you informed and now we’ll share 2015’s stats.

The big outside factor that is affecting Ten Museum and the surrounding condos, is the construction of 1000 Museum – Zaha Hadid’s first condo residence in the U.S.  Construction is annoying and can be a headache, but in the case of 1000 Museum…this one project will drive up the prices on the surrounding condos, so now is the time to buy, during the obnoxious construction stage next door.

We remind you to contact us if you are thinking of selling your Ten Museum Park Condo – we’ll be happy to help you analyze the property and come up with a marketing plan that will impress you.

Ten Museum Park Condo - Miami Condos by Miamism.com

Ten Museum Park – Price per Square Foot

There were 20 sales at Ten Museum Park in 2015.  These sales ranged from $330,000 for a smaller 05 line on the 38th floor with 792 SF, to $3.1 million for a lower PH facing directly east with 4,264 SF – 4 bedrooms and 5 bathrooms.

When it comes to Ten Museum, it’s important to know which units face the water, and that’s why we always provide a site plan.

 

Ten Museum Park condo plan

The average sold Price per square foot in 2015 at Ten Museum Park was $470 with an average property size of 1,354 sq.ft.

The average sold price per square foot in 2014 was exactly the same, $470 but the average property size was 1,176 sq.ft.

If we go by condo lines – which means the units that are on top of each other with exact same layout and views (without taking into consideration unit height), 2015’s averages look as follows:  **please reference site plan above

  • 01 line (no sales)
  • 02 line $589 average sales price /sq.ft.
  • 03 line $463 average sales price / sq.ft. (only one sale)
  • 04 line $425 average sales price / sq.ft. (only one sale)
  • 05 line $421 average sales price / sq.ft.
  • 06 line $399 average sales price / sq.ft.
  • 07 line $442 average sales price / sq.ft.
  • 08 line $435 average sales price / sq.ft.

These averages defy Realtor logic – it makes sense for the waterfront units (lines 1,2,3 and 4) to be the most expensive – not only are these 2-story lofts, but they have amazing views.  That’s not the case at all – some West facing lines had higher pricing (like 07 and 08).  So what’s going on at Ten Museum?  There is a lack of small unit inventory in the area, which makes the west facing residences in higher demand – these tend to be a lot less expensive and a price range that is moving quicker.

There have not been a lot of sales of waterfront units and one sale cannot determine an average since condition, seller motivation and floor height should be factors.  I still believe that these lofts have the best floor plans and views in Miami and think the prices are perfect to get in now.

Ten Museum Park - Miami condos for sale

Ten Museum Park Real Estate Market Report for 2015

General figures for Ten Museum park condos in 2015 are the following: (click HERE to see stats from November 2015)

  • There were 20 Ten Museum Park condos sold in 2015.  The median sales price was $445,000.
  • The highest Ten Museum Park Condo sold in 2015 was residence 4402 with 4 bedrooms / 5 bathrooms, 4,264 sq.ft. of living area, rooftop splash pool, 3 private self-park parking spaces and South East corner location. Selling for $3.1 million ($727/sq.ft.)
  • The lowest Ten Museum Park Condo sold in 2015 was north facing residence 3805 with 1 bedroom, 1 bathroom and  791 sq.ft. Selling for $330,000 ($417/sq.ft.)
  • Out of the 20 sales, 3 were foreclosures and none were short sales. All of them were under $500,000.  Distressed inventory is rare, but still out there.
  • The are currently 29 residences for sale at Ten Museum Park – none are distressed and they vary from $345,000 to $2,095,000.

List of Ten Museum Park Condos Sold in 2015

To get a list of all Ten Museum Park Condos sold in 2015, and/or current available inventory for sale, please contact us.


WHAT’S YOUR HOME WORTH?  Click here to get an automated report or go to MiamismValue.com

*Data obtained from SEF MLS*  – we provide monthly market reports for Miami Shores at the beginning of each month.  Come back or email us for a copy of the report at info@miamism.com

Condo Name:  Ten Museum Park
Architecture:  Chad Oppenheim
Developer: Covin Development
Location:  1040 Biscayne Boulevard, Miami, FL 33132
Contact:  tenmuseum@miamism.com

 

 

Jan
24

St Rose of Lima Carnival 2016 – Miami Shores

By: Ines Hegedus-Garcia on January 24, 2016

We have earned the right to become the official Miami Shores of Lima Carnival REALTORS for the mere fact that we’ve been answering telephone calls all weekend about the carnival.

St Rose of Lima Carnival - Miami Shores

Please note:

THIS IS A REAL ESTATE BLOG
If you are looking for real estate in and around The Saint Rose of Lima Carnival, you are in the right place. We’re talking Miami Shores homes, Biscayne Park homes, or El Portal homes.

Otherwise, please contact St. Rose of Lima Parish directly, for Carnival information:
Address: 425 NE 105th St, Miami, FL 33138
Phone:(305) 751-4257

Featured Miami Shores Carnival Home For Sale

Take a look at this amazing mid-century home, located at 75 NE 92 Street.

Miami Shores Carnival Home For Sale75 NE 92 St - miami Shores

Features include:

  • 3 bedrooms / 2 bathrooms
  • 2,548 square feet of living space – 3,247 actual square footage
  • 2-car garage
  • 9,600 sq.ft. lot
  • 6 burner gas range
  • covered back porch
  • large bedrooms
  • large closets
  • master suite with 2 walk-in closets
  • laundry room
  • separate living/family rooms