Miami Arts District

Don’t know if you should buy in this market? Then consider lease to own. Midtown Miami is presenting a lease-to-own option for some of the units available in 2 Midtown Miami Condominium. How does this work? You agree to a rental price and purchase price at the beginning of the lease and before the end of your ninth month of living in the property you can decide to follow through with the purchase. If you decide to purchase, your rental payments will be used towards your purchase.  Here is an article published today in the Daily Business Review about the program:

http://www.dailybusinessreview.com/news.html?news_id=46559

If you are interested in this program or just interested in purchasing or leasing in Midtown Miami give us a call at 305-503-6183.

Here are some units for lease in midtown (some may or may not be lease to own):

There are currently 3 units in 2 Midtown Miami Tower available for Lease:

1 Bedrooms Available for Lease:

2 Bedrooms Available for Lease:

REF#:	Unit#:	Price:	% Change:	$/sq.ft.:	sq.ft.:	Bed/Bath:	List Date:	Details:
M1398700	H0805	$1,900		$1.97	964	2/2/0	06/22/2010	MORE INFORMATION
M1400209	805	$1,900	18.75%	-	-	2/2/0	06/29/2010	MORE INFORMATION

Source: Southeast Florida MLS. Data updated . The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS's in the Southeast Florida Regional Multiple Listing Service cooperative agreement – Realtor Association of Greater Miami and the Beaches, Realtor Association of Greater Ft. Lauderdale, Realtor Association of Miami–Dade County, Northwestern Dade Association of Realtors, South Broward Board of Realtors. The information being provided is for consumers' personal, non–commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2008, Participating Associations/MLS's in the SEFMLS – Realtor Association of Greater Miami and the Beaches, Realtor Association of Greater Ft. Lauderdale, Realtor Association of Miami–Dade County, Northwestern Dade Association of Realtors, South Broward Board of Realtors. All rights reserved. The information being provided is for consumers' personal, non–commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited.

So as I’ve told many of my clients recently I have been unable to keep up with my blog but I promised that I would spend more time on here showcasing the better deals that we have come across.  Multiple times a week I will be contacted by a seller that makes me aware of his or her pre-construction investment which they are willing to sell at cost or close to original cost.  Here are some of the better deals we have discovered over the last 6 months:

Quantum on the Bay:
So I’ve been up in Quantum about 3 times so far with clients who were considering buying and I was so impressed with the quality of the construction and the views that I decided to purchase a unit for myself.  In the last 3 months we had success selling 4 units in Quantum and had even more interest from buyers who wanted to wait until the lobby and amenities are completely done before we schedule walkthroughs.

Best Deals:
K line - 1400 sf - Direct Bay View on the 18th floor asking $475,000
A line - 1378 sf - Direct Bay View on the 22nd floor asking $505,000
B line - 651 sf - Direct Bay View on the 42nd floor asking $255,000
J line - 1239 sf - North East Bay View on the 41st floor asking $399,900
I line - 951 sf - North East Bay View on the 29th floor asking $325,000
I loft - 1141 sf - North East Bay View on the 7th floor asking $351,000

1800 Club:
We’ve spoken with some sellers who have decided to wait and close in this project before they resell in order to be more flexible on pricing and to avoid paying fees to the developer.

Best Deals:
03 line above the 40th floor for $428,000
03 line above the 35th floor for $418,000

If you own in any of the following projects please give us a call and let use know about your unit: Marina Blue, Ten Museum Park, 900 Biscayne Bay, Marquis, Quantum on the Bay, 1800 Club, 50 Biscayne, Paramount Bay, Plaza on Brickell or 500 Brickell.

If you are interested in purchasing a condo in any of the projects above or would like us to find you an awesome deal in this buyers market give us a call.

An auction of 20 condominium units in Platinum Condominium was held tonight and here are the results.  The auction was held at 7:00 pm on Thursday September 20th 2007.  It was operated by Fisher Auctions which did an excellent job.  The auction consisted of 9 units which were sold “absolute” and 11 which were auctioned at “subject to developer approval.”  This simply means that the absolute auctioned units were sold at the highest bid price no matter what the bid was.

The auctioneer explained that the winning bid price would be adjusted to include a 10% premium to result in the final contract price.  Each bidder had to register and be ready to go to the contract room upon winning with a $10,000 cashier’s check and a personal check for the remainder of a 10% deposit.  All closings will be held on or before October 22nd and all sales are final as these were being sold As-Is with no contingencies.

Units were split up into 3 groups of units and each group went on the auction block.  The auction team quickly realized that the best way to approach the auction was to start the bidding on all absolute units first so they did just that.  Only 8 units were scheduled to be auctioned absolute but a 9th one was added to this category during the auction.

Here are the final winning bids in the order in which the units sold:

Absolute Auctions:
Unit #1001 - 2 bed + den / 2 bath (1363 sf) - $295,000
Unit #1907 - 2 bed + den / 2 bath (1380 sf) - $295,000
Unit #1607 - 2 bed + den / 2 bath (1380 sf) - $295,000
Unit #1602 - 1 bed / 1.5 bath (828 sf) - $200,000
Unit #1806 - 1 bed / 1.5 bath (828 sf) - $170,000
Loft #107 - 1 bed / 1.5 bath - $160,000
Unit #301 - 3 bed / 3 bath - $320,000
Unit #707 - 2 bed + den / 2 bath (1380 sf) - $290,000 - Sold to an Internet bidder
Unit #1905 - 2 bed / 2 bath (1005 sf) - $245,000

Subject To Developer Approval Auctions:
(These were the highest bids but are subject to the Developer’s final approval)
Unit #1705 - 2 bed / 2 bath (1005 sf) - $230,000 subject to approval
Unit #2102 - 1 bed / 1.5 bath (828 sf) - $185,000 subject to approval
Unit #1201 - 2 bed + den / 2 bath (1363 sf) - $300,000 subject to approval
Unit #1101 - 2 bed + den / 2 bath (1363 sf) - $300,000 subject to approval
Unit #2107 - 2 bed + den / 2 bath (1380 sf) - $265,000 subject to approval
Unit #2007 - 2 bed + den / 2 bath (1380 sf) - $265,000 subject to approval 
Unit #501 - 3 bed /3 bath - $300,000 subject to approval
Loft #103 - 1 bed / 2 bath - Required a minimum bid of $330k - No Bids
Unit #1802 - 1 bed / 1.5 bath (828 sf) - $200,000 subject to approval
Unit #2002 - 1 bed / 1.5 bath (828 sf) - $200,000 subject to approval

Update: This unit is off the market

We’ve just reduced Unit M-207 in 4 Midtown Miami to $230,000.  This is a fantastic deal considering this is one of only a few units in the entire zip code that’s a legal Live/Work space.  This means you can legally run your business from this unit or use as a residence or both!  Provided your type of business is allowed in the 4 Midtown condominium documents.  4 Midtown is expected to open by the end of 2007 and the Seller’s loss is your gain.  This is an amazing opportunity to get into the development at a low price due to this market and hold for max gains once the entire area is fully realized.  For additional information contact us at 305-503-6183.

Warning: include() [function.include]: URL file-access is disabled in the server configuration in /homepages/35/d108773028/htdocs/_BLOGS/MiamiCondo411.com/engine/wp-content/plugins/exec-php/includes/runtime.php(41) : eval()’d code on line 7

Warning: include(http://www.miamicondorealty.com/includes/idx_4midtownmiami.php) [function.include]: failed to open stream: no suitable wrapper could be found in /homepages/35/d108773028/htdocs/_BLOGS/MiamiCondo411.com/engine/wp-content/plugins/exec-php/includes/runtime.php(41) : eval()’d code on line 7

Warning: include() [function.include]: Failed opening ‘http://www.miamicondorealty.com/includes/idx_4midtownmiami.php’ for inclusion (include_path=’.:/usr/lib/php5′) in /homepages/35/d108773028/htdocs/_BLOGS/MiamiCondo411.com/engine/wp-content/plugins/exec-php/includes/runtime.php(41) : eval()’d code on line 7

Update: This unit has been sold.

We currently have a listing for the lowest priced direct bayview unit in the area at Cite on the Bay. Cite was built in 2004 and is one of the most desirable buildings in the Downtown/Biscayne Corridor because it is surrounded by high-end and expensive new construction.  Cite provides a great value to an end-user who demands a direct bay view condo at a moderate price.  Unit #612 is located on the top floor of this building facing directly East towards Biscayne Bay.  The unit also overlooks Margaret Pace Park which is an amazing outdoor greenspace visited by residents from throughout the corridor.  This unit includes 739 sq ft of interior space, a balcony overlooking the bay, washer and dryer and covered parking.  The building features extensive security, a grand 2 storey lobby, residents room, swimming pool, fitness center, 24-hour concierge and valet parking.  To schedule an appointment to see this fantastic unit contact Samir Patel of Miami Condo Realty at 305-503-6183.

Other units in Cite on the Bay for sale:

Warning: include() [function.include]: URL file-access is disabled in the server configuration in /homepages/35/d108773028/htdocs/_BLOGS/MiamiCondo411.com/engine/wp-content/plugins/exec-php/includes/runtime.php(41) : eval()’d code on line 7

Warning: include(http://www.miamicondorealty.com/includes/idx_citecondos.php) [function.include]: failed to open stream: no suitable wrapper could be found in /homepages/35/d108773028/htdocs/_BLOGS/MiamiCondo411.com/engine/wp-content/plugins/exec-php/includes/runtime.php(41) : eval()’d code on line 7

Warning: include() [function.include]: Failed opening ‘http://www.miamicondorealty.com/includes/idx_citecondos.php’ for inclusion (include_path=’.:/usr/lib/php5′) in /homepages/35/d108773028/htdocs/_BLOGS/MiamiCondo411.com/engine/wp-content/plugins/exec-php/includes/runtime.php(41) : eval()’d code on line 7