Foreword
Why invest in Brickell? • Average rental prices have increased $300 in the last year. Which means investors can yield significantly higher rental incomes
Last year I released a report on ‘Miami’s best condo’s for Sale’. Click here. That report focused purely on new development projects and although current development projects still offer incredible value given that they are still selling below construction costs, there is simply not enough new development to write an entire report on. So I have turned to the established Condo’s, focusing on those that are most desired to detail what investors and end users should be spending their money on and why. This Quarter of 2012 due to popular demand I am going to specifically focus on the area of Brickell and Biscayne. Why focus on Brickell as opposed to other areas?
• Inventory for Brickell and Downtown has dropped by 40% in 1 year. This is due to the fact that the majority of new construction has stopped, but buying continues at a staggering rate.
• Price per square ft is rising fast again from the ‘crashed out’ numbers of 2008/2009, but is still very short of previous 2007. This shows there is room for significant increases. Especially in light of lower levels of supply and increased levels of demand. We are now dealing with a very different environment than we were 5 years ago.
Smart investment in a global market. The Investment markets around the world continue to act in an unstable manner, especially coupled with
First and foremost this is where my office is located. Secondly, the sheer level of development going on in the Biscayne Corridor and through Brickell commands its own report - 10 Billion dollars is being spent on this area by 2020 with the development of the World Resort Miami, the Museum Park Project, Brickell City and much more. It seems like all eyes are turning to this area as the most popular place to live in Miami. Just Click here to read about the 10 Billion dollar development occurring in Downtown and Brickell by 2020! Let it be said, there is nothing wrong with other areas of Miami. Far from it, and I am ever active in the high end spectrum of these neighborhoods. There are still great deals in these areas: Key Biscayne, Coconut Grove, Coral Gables, Miami Beach, Aventura, Sunny Isles. For reports on these neighborhoods please call or email me.
David Siddons Realtor Associate - Investment Specialist EWM Cel: 305 508 0899
global hyper inflation which is a real fear. The main investment engines: Currency, Bonds and Stocks when stacked up against real estate perform far worse, which is why Miami has seen a surge of smart investors taking advantage of the lower than average prices for second homes and investment property, low interest rates and high and rising rental prices.
What this report shows about the Buildings…. • • • • • • • •
The best building to invest in right now. Average price per square ft in reported Condo’s Forecasted price per square ft for 2012 and beyond in reported Condo’s. Average unit price in reported Condo’s Entry point for units for sale in reported Condo’s. Maintenance fees (calculated per square ft) in reported Condo’s. Geographic Location of reported Condo’s and the importance there in to investors and end users. Rental rates for units in reported Condo’s.
Siddons.d@ewm.com
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
LOCATION MAP
Click on points on map to open interactive map.
Jade
Epic
Santa Maria
Marquis Carbonell
Asia
Tequesta Point
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Paramount Bay
Paramount Bay
What you get for your money….
Paramount Bay
What you get for your money….
Since sales started back in October 2011, this Condo is now 65% sold, and has just received Fannie Mae approval. Located along the waterfront in the Biscayne Corridor with only a 5 minute ride to Miami
Building Stats Units being sold are: 1 bed plus den / 2 beds plus den, 2.5 bathrooms / 3 beds
Beach. Centrally located between Midtown, Miami
Description
Starting Price
Area (sq.ft)
Maintenance
Design District that is just north, and right in the
1 Bedroom + Den + 2 Bath
$530,000
1,214– 1,240
$758
2 Bedroom + Den + 2.5 Bath Flow Thru
$730,000
1,782 – 1,803
$1,119
3 Bedroom + 3 Bath
$760,000
1,818 - 1,842
$1,167
3 Bedroom + Den + 3.5 Bath - Panoramic Views
$980,000
2,353
$1,479
large in size and they have in essence their own
Floorplans
See here
private elevator and private foyer. All units have direct
You Tube tour
See the video tour for this Condo here
backyard is Arts and Entertainment District such as the Adrienne Arsht Center for the Performing Arts, and the new Resorts World Miami that is coming to that neighborhood. Importantly all units are relatively
waterfront views. This holds a true classification of a high end luxury Condo.
Forecast Forecast unit values over 10 year period: Start of project price was around: $315 per square ft (October 2011). Current price per square ft: $415 - $460 per sq ft.
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Paramount Bay
3 bedroom, 3 bath, 1818 sq feet- corner unit
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Paramount Bay
2 bedroom, 2 bath corner units, 1751 sq feet.
Epic (200 Biscayne Blvd)
Epic (200 Biscayne Blvd)
Just 6% of inventory for sale, average $535 price per sqft.
Just 6% of inventory for sale, average $535 price per sqft.
Stats
Sitting just across the Brickell bridge into Downtown
What befits this Condo’s continued popularity is the
Miami, and located on the waters edge sits Epic.
fact that across the street they are now opening a
Considered to be the ‘hippest and Coolest Condo’s
new Wholefoods supermarket and a soon to arrive
in the neighborhood. This building started selling
multiplex cinema. This condo is also ideally located
in 2008/2009 and is now completely sold out. The
minutes from the new ‘Brickell City’ development, as
Condo also hosts a ‘Hotel Side’, so its no surprise
high end retail center for Brickell and Downtown. The
that the Pool, Gym, 2 restaurants and bar give you
most popular lines in the building is the ‘01’ A 1600
that feeling of living in an urban resort.
sqft corner 2 bed unit facing the ocean. Also the ‘06’ line.
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Average Sale price per square ft.
$600 - $700
Average Price for a unit
2 bed unit $850,000
Maintenance fees
$080.per sqft
Rental Rates
1 Beds $2000, 2 beds $4500, 3 beds $7000
Floorplans
See here
You Tube tour
See the video tour for this Condo here
Compare to
W, Setai, Icon South Beach, Murano Grande
Marquis
Marquis
One of the last Developer Condos.
One of the last Developer Condos.
Stats
Marquis sits on the Biscayne corridor. Launched in 2008 this luxury high rise condo sits in a superb location to take advantage of all the new downtown and Brickell facilities. Over 90% of the developer units have now been sold. The best deals remaining are the ‘06’ line. Priced at around $600,000 for a 2 bed, 2 ½ bathroom. 1577 sqft unit.
Average Sale price per square ft.
$400 - $450
Average Price for a unit
2 bed, 1550 sqft : $650,000
Maintenance fees
$0.60 per sqft
Rental Rates
2 bed from: around $3,500
Floorplans
see here
You Tube tour
See the video tour for this Condo here
Compare to
Paramount, 900 Biscayne 10 Museum
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Carbonell (901 Brickell Bay Drive)
Carbonell (901 Brickell Bay Drive)
Stats Average Sale price per square ft.
$400 - $535
Average Price for a unit
1 bed : $400,000 2 bed : $600,000 3 bed: $900,000
Maintenance fees
$0.61 per sqft
Rental Rates
1 bed from $2000 2 bed from: $3200 3 bed from $4200
If you are looking for a strong investment with a budget north of $700k and you want a great place to live in Brickell, then Consider Carbonell. Most buyers of Carbonell are end users. They use Carbonell as their primary residence or use it as a second home. Carbonell offers a very high quality level of living. Located on Brickell Key, Carbonell has long attracted Couples and young families. The ‘Key’ hosts private security, a 1 mile running track around the island, tennis Courts, parks, a local supermarket and other shops. It has an exclusive feel to it, and because the island is just 1 mile square and Carbonell sits right on the water’s edge you will never have to fear a new Condo being built that would block your view.
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Floorplans
see here
Compare to
Grosvenor House Coconut Grove
Tequesta 2
(808 Brickell Key Drive)
Only 4% of inventory for sale, average $443 price per sq ft
Tequesta 2
(808 Brickell Key Drive)
Only 4% of inventory for sale, average $443 price per sq ft
Stats Average Sale price per square ft.
$443
Average Price for a unit
2 beds $600,000 3 bed unit.
http://www.kafka-franz.com/ Two-Tequesta-point-floorplans. htm
3 bed $1,100,000. Maintenance fees
Around $0.55 per sqft. (very low)
Rental Rates
1 bed from $2000 2 bed from: $3500 3 bed from $4500
Tequesta 2 is one of the more established buildings on Brickell Key. With excellent floor plans and well maintained amenities, a feel of quality and service, its no surprise that this Condo holds its value and remains one of the strongest and most desirable condo’s on Brickell. Its as they say ‘High quality never goes out of style’. Ideal for the buyers who wants to live in Miami and hold a property for the unforeseeable future. The most popular units are the corner 01 line and 04 line a 3 bed unit of 2500 sqft.
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Floorplans
see here
You Tube tour
See the video tour for this Condo here
Compare to
Tequesta 3
Jade (1331 Brickell Bay Drive)
Jade (1331 Brickell Bay Drive)
10% of building for sale , $483 average price sold per square ft .
10% of building for sale , $483 average price sold per square ft .
Stats Average Sale price per square ft.
$550 - $650
Average Price for a unit
2 bed corner $900,000 3 bed $1100,000 4 bed $2,000,000
Maintenance fees
$0.72 per square ft
Rental Rates
2 beds unit $4500 + per month 3 beds $5500 + + per month
What was considered ‘the Brickell Condo’ in 2004. The Condo has fallen and risen from the Ashes of the 2007 market Crash. This Condo sits at the end of Brickell Bay Drive. An Ocean front building with the ‘cache’ of exclusivity. As opposed to the ‘urban chic or Epic’ this Condo attracts the buyer who wants to remain low key but enjoy high living. The building works best for who want a very large 2 or 3 bed flow through unit. With Ocean and City views. Best unit lines to buy into are 07 a 3 bed line. Or 11 line a Large Corner 2 bed unit. 01 line 4 bedroom unit.
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Floorplans
see here
You Tube tour
See the video tour for this Condo here
Compare to
Trump Towers Sunny Isles, Jade Beach
Asia
(900 Brickell Key Blvd)
Asia
(900 Brickell Key Blvd)
18% of building for sale
18% of building for sale
$682 average price sold per square ft.
$682 average price sold per square ft.
Stats Average Sale price per square ft.
$625
Average Price for a unit
2 beds from $1000,000 3 beds from: $1,500,000
Maintenance fees
$0.70 per sq.ft
Rental Rates
2 bed $4500 - $6000 3 bed $6000 - $8000
Asia is the most recently built Condo on Brickell Key – finished in 2009. This is considered a ‘Boutique Building’ with just 146 units. Every unit has its own private elevator, and most floorplans are extremely large. The smallest units are 2 bed apartments at around 1600 sqft. An extremely tranquil Condo, with a zen like vibe. The building does not have a huge pool or extensive gym (although it does have 4 tennis courts). What you will get it the feeling of living in a home in the sky and not a Condo. A haven for CEO’s and celebrities alike.
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Floorplans
see here
You Tube tour
See the video tour for this Condo here
Compare to
Grosvenor House in Coconut Grove
Santa Maria (1643 Brickell Avenue)
Santa Maria (1643 Brickell Avenue)
Stats Average Sale price per square ft.
$700
Average Price for a unit
$1500,000 - $8,000,000
Maintenance fees
Santa Maria is the absolute peak of luxury for Brickell. A 51 story Condo designed by the famous Ugo Columbo. It is the most prestigious and luxurious of all Condo’s in the Brickell and Downtown neighborhood. If you want the very best this is where you go. It is naturally also the most expensive at around $700 per sqft ($800 if you buy a townhome or penthouse model). Most unit owners buy and use as primary residence. Few tenants. This building boasts spacious floorplans. Including a number of 2 story units from the 27th to 40th floors. The grounds include a private mansion. Boat dock for residence. Penthouse level private health club, Restaurant and more. Units range from 2 bed 2.5 bath units of 2000 sqft to the largest 5 bed penthouse units of 6300 sqft.
Property of David Siddons - Realtor Associate EWM - (305) 508-0899- siddons.d@ewm.com - www.luxlifemiami.com
Rental Rates
Not applicable. Very few units ever rented
Floorplans
see here
Compare to
Continuum, Apogee, Residence at Viscaya