As usual, I'm always out visiting condo buildings here in Miami with or without my clients. The other day I was in Akoya on Miami Beach looking at 1 bedroom REO property that came on the market for $240,000. I've always liked Akoya since it was built in 2004, but this is the first time I managed to snap some pictures. Akoya is one of the newer buildings located in North Beach and offers awesome ocean views on either side of the building. You can see up or down the coast because the building sits closer to the beach than those nearby.
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Archive for the ‘Walking Tours’ Category
Emerald at Brickell: A Walking Tour
October 14th, 2009 · No Comments
One of the buildings in Downtown Miami that offers amazing views, but gets very little publicity is the Emerald at Brickell. The Emerald sits at 218 SE 14th Street in the vicinity of the Jade and the Four Seasons. It's the easternmost building on that street, so you get amazing views of Biscayne Bay and Miami Beach. The Emerald was completed in 2006 and contains 142 units on 27 floors.
By far an away the best units in the building are the "01" line which have 2 bedrooms, 2.5 baths, 1594 sqft, and have an expansive terrace that faces directly east onto Biscayne Bay. Earlier this year, Unit 2201 sold for $300,000 in a REO transaction. View Details. I doubt we'll see these prices again, but that was an amazing steal. I had the opportunity to visit another "01" unit in the building and snapped a couple of photos. See below.
(more...)The Axis on Brickell: A Walking Tour
October 12th, 2009 · No Comments
Recently, I had the opportunity to tour the Axis on Brickell, another one of the new condo buildings that have opened in Downtown Miami / Brickell. The Axis on Brickell is "Conditionally" Approved by Fannie Mae meaning that Fannie will start buying loans once the developer has around 50% of the units presold. Right now, however, all transactions must be cash, as they have not reached the required amount of presales. Currently, the Axis offers an excellent developer rental program as the pace of sales in the building has been slow due to the lack of financing. Please contact us for more information on the rental program at Axis.
(more...)500 Brickell: A Walking Tour
October 9th, 2009 · No 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.
(more...)The Infinity at Brickell: A Walking Tour
October 8th, 2009 · 4 Comments
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.
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