Archive for October, 2009

I'm still surprised at the pace that condos are selling in Downtown Miami. The majority of the activity has been taking place in Fannie Mae approved buildings where prospective buyers are able to get financing. Recently, I had the opportunity to visit the Infinity at Brickell and was pleasantly surprised. The building opened in Mid 2008 and sits in Southwestern Brickell, on South Miami Avenue near 13th Street. In my opinion, it's a great location which is walking distance to the Publix supermarket and shops in Mary Brickell Village, as well as restaurants like Segafredo's that is just down the street.

Of all the Fannie Mae approved buildings downtown, the Infinity is the only one that still has number of units available from the developer for under $200,000. The construction loan for the Infinity was provided by Corus Bank which was recently seized and its assets auctioned off by the FDIC. I believe this is one reason why the Infinity is able to offer reasonable prices to buyers.