Miamism

We wanted to share a Miami real estate deal for sale now in 4 Midtown, one of Midtown Miami's new highrise buildings. This tower received its certificate of occupancy in February 2008 and people are already moving in and making this fabulous building their home.

How do we define a Miami Condo Deal?

In our opinion, a deal is when you can purchase a property for a lot less than similar properties in the same building. In the case of a high-rise like 4 Midtown, we look at the same line of units and see what these are priced at.

A little history on the project

4 Midtown was designed by John R. Nichols of Nichols Brosch Sandoval & Associates, Inc. architects and planners, based in Coral Gables, Florida - and its concept is:

Midtown's urban design is reminiscent of New York SoHo district with a Miami Twist. The pool deck is a true urban oasis nestled seven stories high. The architecture with it's wide expansive opening that emphasizes the panoramic views of Downtown and Biscayne Bay. With a modern minimalist lobby, and custom finishes that pay attention to detail.

Details about this Miami-Condo Deal

3301 NE 1st Avenue, unit 2615 - Miami, Florida 33137

Priced at $425,000

Unbelievable bay and city views from this 26th floor new, and never lived in Midtown 4 condo. Full-amenity building just South of Miami's Design District, centrally located close to Miami Beach, Downtown Miami and both airports. Two bedroom, two bathroom condo with split bedroom plan, high ceilings, Italian kitchen, porcelain tile floors and wrap around balcony overlooking Biscayne Bay.

Similar units in the same line are priced as follows:

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This is a Miami Real Estate Market Report for the months of January, February, March and April 2008. It is obvious that some real estate markets are seeing more movement but others remain quiet. If you are thinking of buying Miami real estate, make sure you work with a Miami Realtor that knows the area and the market fluctuations. If you are selling, May should be a great month right before the slow Summer months.

Miami Shores Real Estate Market Report

There are currently 239 listings in Miami Shores: (6 more from last month)

• Highest priced listing is $2,999,000
  
• Lowest priced listing is $199,900
  
• Pending Sales (Properties under contract):12
  
• Closed sales in 2008: 25 (5 of these in April as opposed to 12 in March)

14 of those 25 sales were under $500,000 and the highest sale was $860,000 at 490 NE 96th Street. And as I said last month, 'this particular house was purchased for $1,508,000 in September 2005¦.talk about a big OUCH for those sellers!!

Bay Harbor Islands Real Estate Market Report

There are currently 19 single-family home listings in Bay Harbor Islands: (one more from last month)

• Highest priced listing is $5,200,000
  
• Lowest priced listing is $575,000
  
• Pending Sales (properties under contract):1
  
• Closed sales in 2008: 0
  

No sales this year in Bay Harbor Islands. That has to be tough for those people that HAVE to move.

Surfside Real Estate Market Report

There are currently 87 single-family home listings in Surfside:(1 less than last month)

• Highest priced listing is $8,000,000
  
• Lowest priced listing is $349,000
  
• Pending Sales (properties under contract): 4 (3 more than last month)
  
• Closed sales in 2008: 8 (1 of them in April)
  

7 of those sales were under $600,000 and the highest at $3.2 million of a bayfront home (1356 Biscaya Drive) purchased in 2002 for $2.2 million.

There are currently 239 condo listings in Surfside: (as compared to 231 last month)

• Highest priced listing: $2,600,000 a 3/3 at Azure
  
• Lowest priced listing: $153,000 a 1/1 at Seaside Terrace Condo
  
• Pending Sales (properties under contract):10 (1 less than last month)
  
• Closed sales in 2008: 12 ( 6 closed sales in the month of April with highest sale at $1,250,000 for a 3/2 at Champlain Towers East and the lowest sale at $173,000 for a 1/1 at 9140 Collins Ave Condo)
  

I love Surfsides density and the 12 story max allowed on the oceanfront condos. If you dont like high-rises, Surfside may be for you. It also has a great close community with shopping and restaurants as well as Bal Harbour Shops within walking distance.

Fisher Island Real Estate Market Report

There are currently 138 listings in Fisher Island: (4 more than last month)

• Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
  
• Lowest priced listing: $275,000 for a 1/1 at Marina Village
  
• Pending Sales: 1 (as compared to 2 last month)
  
• Closed sales in 2008: 4 (1 closing in April - $750,000 for a 1/1 at Seaside Villas)
  

Fisher Island is Fisher Island…no explanation needed.

Aventura Real Estate Market Report

There are currently 2237 condo listings in Aventura: (88 less than last month)

• Highest priced listing: $6,000,000 for a 4/6 at Porto Vita
  
• Lowest priced listing: $81,888 for a 1/1 at Biscayne Lake Gardens
  
• Pending sales: 182 (compared to 134 last month)
  
• Closed sales in 2008: 195 (55 closings in April alone)
  

The highest closed sale this year in Aventura was at Porto Vita for $3,600,000 and the lowest was $59,000 at Commodore Plaza which is a 55 and over community.

Biscayne Park Real Estate Market Report

There are currently 54 single-family listings in Biscayne Park: (4 less than last month)

• Highest priced listing $975,000
  
• Lowest priced listing $190,000
  
• Pending sales (properties under contract):2
  
• Closed sales in 2008: 4 (3 sales in April)
  

The closed sales in Biscayne Park have been $275,000, $300,000, $310,000, $353,000

El Portal Real Estate Market Report

There are 62 listings in El Portal: (1 more than last month)

• Highest priced listing is $925,000
  
• Lowest priced listing $215,000
  
• Pending sales (properties under contract):0 (compared to 2 last month)
  
• Closed sales in 2008: 1
  

The only closed sale this year in El Portal was for $259,000 for a 2 bedroom / 2 bathroom house located at 465 NE 89th Street.

**all information obtained from the SouthEast Florida Multiple Listing Service**

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Even for experienced Miami Realtors, visiting new condos is always exciting.  I for one love to check out the finishes and the preliminary design flaws.  Then I tear them apart with my clients, from finish choices to distribution problems.

This week I had the pleasure of visiting Marina Blue, designed by none other than Arquitectonica.  Located at 888 Biscayne Boulevard, in what Miami Realtors refer to as 'the gridlock, because it is right across from the American Airlines Arena, Bayside Marketplace, The Center for Performing Arts, the new Museum Park, and the exit to I-395 that takes you to Miami Beach.  I have to admit that the traffic is always a little intense, but what else do you expect for downtown Miami?

I figure if you dont want the action, excitement and traffic, this may not be the building for you.  On a positive note, you do have the People-Mover right behind the building that takes you through downtown Miami and possibly to the talked about Wholefood Market Place that is rumored to be built nearby.  The concept of this grouping of buildings which include:

The Marquis, Ten Museum Park, 900 Biscayne and Marina Blue

Is Green Urbanism - walkable communities close to everything, close to the action and with good public transportation.

I admit I was impressed with the finishes and the scale of the spaces.  The lobby was austere and grand, the hallways were not finished, doors not painted (but we expect that from a newly finished building) and the common areas almost completed.  The skybeach, although a sexy concept, in my opinion will not last long. (the wind is always powerful and to keep the sand off the interior common areas is going to be tough) - I hope they prove me wrong.

Heres some pictures of the pool areas and their views:

We saw a one bedroom unit on the 5th floor and even that one had amazing views:

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This weeks Luxury Real Estate Pick is located in Miami Beach at Rivo Alto Island, one of the Venetian Islands. This residence was built new in 2002 with a Mediterranean Motif and sits on a 10,500 square foot lot with 60 feet of water frontage.

60 West Rivo Alto Drive - Miami Beach, FL 33139

Tucked neatly on a 10,500 sq. ft. lot, this Mediterranean masterpiece unveils details, large living spaces and ample storage throughout. this newly constructed home features 5 bedrooms and 6 and a half bathrooms including a 1 bedroom / 1 bathroom guest house, library, study room, 60 feet of waterfront, over 5,800 sq. ft. of interior living space, travertine floors, custom built-ins, stone fireplace, Leutron lighting system, French doors, state of the art kitchen. Pool with jacuzzi, BBQ and dock with boatlift.

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The Miami River has gone through such an unbelievable transformation in a short time frame that we wanted to share with you what it feels like to visit from a boat´s perspective. 

From the Miami River high-rise developments to the small businesses and restaurants.  You do get a Miami-Vice vibe (the music also contributes), don´t you think?

…another MIAMISM!!

Rick gets the credit for this video¦it was all him.

**Please keep sending in pictures of Miamisms - we will feature them on Fridays**

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Ines.Hegedus-Garcia 15 feedbacks »