500 Brickell: A Walking Tour

500 Brickell: A Walking Tour

October 9th, 2009 · View Comments

After writing my Blog Post entitled "Downtown Miami Condos Selling Fast", I decided to pay 500 Brickell a visit to see how sales were going. There was a rumor floating around that they had sold 160 units since June. I decided to try and verify this number by checking the public records, and I was able to find 120 closed sales (from 6/1 to 10/7). Considering that there are probably a number of units that are still pending sale and haven't closed yet, 120 recorded sales is a very strong showing and was closer to the 160 number than I was expecting.

500 Brickell consists of 632 units in two towers separated by an 11th floor deck that contains a heated infinity pool and daybeds. The 11th floor also features a spa, fitness center, and club room. It's an "urban oasis" in the heart of Brickell.

11th Floor Pool

Lounge Area

Gym

To me, the most unique thing about 500 Brickell is the pool and lounge on top of the roof of the east tower. It offers outstanding views of Biscayne Bay and the Icon Brickell next door.

View From Rooftop Pool Deck

The Icon Brickell

Rooftop Pool Deck

One of the reasons that 500 Brickell is such an attractive building and has sold so many units recently is that it is Fannie Mae approved. Unlike many condos downtown, buyers can purchase a condo using a conventional mortgage from a bank. Given how the building sits, most of the units face either directly north or south. However, the best views are those that look east onto Biscayne Bay. Even if your unit doesn't face directly east, as long as you are on the eastern portion of the two towers, your views should be pretty good.

Currently the lowest priced 1 bedrooms in the building are around $265,000 for a unit that is 811 sqft, or $270,000 for a unit that is 901 sqft. As far as 2 bedrooms go, 500 Brickell is pretty much sold out. Below are pics from a sample 1 bedroom. In my opinion, the unit interiors are nothing special.