Miami Real Estate

MARQUIS is here! Well almost. Marquis Condo is just a few weeks away from beginning closings and during the last week I had a few chances to get into the building and get my fix. I have been dying to get into this building. Marquis is located at 1100 Biscayne Blvd and stands 67 stories tall (the second tallest residential building in Miami, behind the Four Seasons) across from Museum Park and Biscayne Bay. I was extremely excited to finally get in with my clients over the last week to look at many of the floorplans. I had a chance to preview 1 bedroom with dens, 2 bedrooms, 3 bedrooms and even an incredible 4 bedroom. Marquis is the last Downtown Miami Condo to open and the last in the Biscayne Wall which consists of Ten Museum Park, Marina Blue and 900 Biscayne Bay. Unlike many of the other developments built in Miami recently, Marquis includes only 306 exclusive residences and a boutique hotel within the building. The Hotel is named TEMPO Miami and is a RockResorts® Hotel. This is a great feature for when you have visiting friends from out of town. You can put them up in the hotel and still be close enough. The hotel only consists of 56 rooms and is located between the 3rd and 14th floors so I wouldn’t expect the hotel patrons to be in the way of the full time residents of Marquis. Marquis also will house a signature restaurant and I hear that a major chef is coming to the building. I won’t disclose who until it’s official but its big! So the first impression I had of the building was as I entered the lobby. There is a valet entrance with separate lobbies for the residents and also for the hotel. As we entered the lobby I noticed that every inch of the lobby was covered in some material. The walls were clad with Marble, Stone and Wood. A great feature is the private elevators to most lines in the building. We took the private elevator up to one of the floors and we took a look at the two bedroom one-story units which was a flow through unit offering both East and West views like most units in the building. I also was able to see a huge 4 bedroom on the North East corner and a large 3 bedroom on the South East corner. The views were mind-blowing from all units. The kitchens were very sleek with all Viking appliances, and the spacious master baths were appointed with Duravit and KWC fixtures. The terraces were huge and all living spaces had minimum 10-foot ceilings with 20-foot ceilings in some areas. The interior doors were also impressive, they went all the way up to the ceiling. Anyway here are the photos:

Marquis Lobby:

South Views from Marquis:

North Views from Marquis:

Marquis Kitchens:

Marquis Baths:

Marquis just WOW!

For showings of Marquis call me at 305-503-6183 - Samir Patel - Miami Condo Realty, Inc.

Where to buy a 3 bedroom condo in Miami for around $200,000? We have it. Altos de Miami is on sale! Recently I took a personal tour of Altos de Miami with a close friend who is the exclusive broker for the new developer. Altos de Miami is a brand new condominium development in an area I would consider Gables/Grove. It is centrally located with easy access to Downtown Miami to the East, Coconut Grove to the South, Coral Gables to the South West and Jackson Memorial to the North.

I was not very familiar with the area prior to taking my tour but I discovered the location to be convenient, pricing to be much affordable and the construction to be good quality. You get floor-to-ceiling glass and terraces in most units which is great because you have panoramic views of the Downtown Miami skyline. I actually thought it would have been interesting if the building had been built many years ago residents would have been able to see all the construction cranes working vigorously on the skyline. So the building offers on-site parking, security, a small gym, on-site retail, and a huge sun deck. There is no swimming pool in the building but that is good I guess as that keeps maintenance costs low. Pricing on 1 bedrooms begins from $99,900, 2 bedrooms from $159,900, 3 bedrooms from $182,900, and two-story penthouses from $197,900. And the best part - this is developer pricing! So no messy short-sales or foreclosures to deal with. Call me to schedule a personal tour - Samir Patel - Miami Condo Realty, Inc. at 305-213-0336.

Altos de Miami Lobby:

Altos de Miami Model Unit:

Altos de Miami Views:

Altos de Miami Photo Gallery:

ICON Brickell Condo is Fannie-Mae Approved! At least tower one is according to the new list published by Fannie-Mae on their website efanniemae.com - take a look. Looks like Related Group is working over-time to get these projects approved. They recently received Fannie-Mae approval on 500 Brickell as well. This means that ICON Brickell now qualifies for conventional lending from the major lenders as long as the buyer is credit-worthy and the loan amount is within the Fannie-Mae approved loan limits. This is good news for Related and should assist them in closing many more of the units. Prices at ICON Brickell start from the mid $200,000’s for studios. For showings call Samir Patel, Licensed Real Estate Broker of Miami Condo Realty, Inc. at 305-503-6183.

Here are photos from ICON Brickell:

ICON Brickell is one of my favorite developments. It is definitely like a vacation condominium development. Here are some of the features of ICON Brickell:

• Unique, ultra-contemporary architectural design, a site surrounded by two parks, Biscayne Bay and Brickell Avenue
• A ten-acre enclave and approximately 1,000 feet of water frontage (including the parks) to stroll, jog or find a shady spot and spread a blanket
• A convenient dock in Biscayne Bay for residents and visitors to moor their vessels for a few moments or a few hours
• A spectacular, two-story entrance and valet drop-off
• Two full-service bayside restaurants
• A spa and fitness center with amenities normally associated with a five-star resort spa
• Smart building technology with “i.c.o.n.” (interactive concierge on demand network) in every unit
• Wireless technology on the sky terrace and other common areas
• Multi-level covered parking
• Full-time concierge staff offering a full range of services includinghousekeeping, laundry and dry cleaning, 24-hour valet service, mail and package reception
• A two-acre, lushly landscaped outdoor living room and sanctuary more than 100 feet above Biscayne Bay
• Row after row of stately japanese blueberry trees and lounge chairs that flank a spectacular 300-foot long swimming pool divided into a wading pool (where tables and chairs may sit in the water), a thermal hot tub and an Olympic-length lap and recreational pool overlooking Biscayne Bay
• An outdoor fireplace overlooking downtown Miami to take the chill off on a January night while you play floor chess

Samir Patel is a licensed real estate broker with Miami Condo Realty, Inc. and author of the Miami Real Estate Blog - www.MiamiRealEstateBlog.com. Samir can be reached at 305-503-6183 or by email at sales@miamicondorealty.com. Be sure to check out all of Miami Condo Realty’s featured properties for sale online at www.MiamiCondoRealty.com.

Copyright © 2009, Miami Condo Realty, Inc.

Call me today to get the best deal on the market. Waterfront Quantum on the Bay with never before available prices. Prices much below 5 years ago. This is the last of the inventory in Quantum on the Bay. Limited deals are available for qualified buyers! Quantum on the Bay is Fannie-Mae approved so you should have no problems closing with a mortgage. We have only a few remaining units.

Here are photos of Quantum on the Bay:

• 1 bedrooms available from below $200,000
• 1 Bedroom + Den from below $240,000
• 2 Bedroom from below $300,000
• 2 Bedroom + Den from below $360,000
• 3 Bedrooms from below $400,000

These prices are only available to qualified buyers for this week. So do not hessitate to contact me. Call me for showings @ 305-503-6183 - Samir Patel, Licensed Real Estate Broker - Miami Condo Realty, Inc.

Yesterday I received an email from RCRS stating that 500 Brickell has become Fannie Mae approved. This means that this building now qualifies for conventional lending from the major lenders as long as the buyer is credit-worthy. This is good news for Related and should assist them in closing many more of the units. This follows after recent price cuts at 500 Brickell. Currently this is one of the best deals in town for a NEW condominium. Sure some of the prices are not in line with Miami Foreclosures or Short Sales but not all buyers today have cash to go after those. Prices at 500 Brickell start in the low $200,000’s for 1 bedrooms and the low $300,000’s for 2 bedrooms. For showings call Samir Patel, Licensed Real Estate Broker of Miami Condo Realty, Inc. at 305-503-6183.

Here are photos from 500 Brickell:

In October I had my first sneak peek of Everglades on the Bay. Everglades on the Bay is a brand new luxury condominium development in Downtown Miami directly across from Bayfront Park. The development consists of twin towers standing 49-stories tall and consists of many different types of units including lofts, flats, penthouses and studios. The views from Everglades on the Bay are quite impressive but I wish they had used more glass throughout the building. Anyway take a look for yourself at our photos:

A few of the features of Everglades on the Bay are a Fully equipped multi-function business center, State-of-the-art spa and fitness center, Private men’s and ladies’ saunas, steam rooms, a 100,000 square foot, 8th floor amenity deck, Ground level retail, Billiard room and more. For units available at Everglades on the Bay call Samir Patel at 305-213-0336. For listings of Everglades on the Bay Rentals goto http://www.miamicondorealty.com/everglades-on-the-bay/rentals/

Everglades on the Bay Views:

Everglades on the Bay Kitchens:

Everglades on the Bay Baths:

Everglades on the Bay Pool Deck:

Over the last 4 years I have taken many photographs of some unique properties and they’ve all been siting on my hard drive so I figured I would start throughing them on here to increase the amount of posts I put up here. Sometimes I don’t have a lot of time to write a full blog post but this should increase the frequency of our posts and will also give you a chance to see Miami and Miami Beach from a bunch of different angles. Here are photos I took from the North East penthouse in 900 Biscayne Bay. I think 900 Biscayne Bay is one of the most elegant buildings in Downtown Miami. This penthouse was huge. It was almost 3500 sq ft and was on the 63rd floor.

Lendco Florida LLC has acquired 56 units in Marina Blue Condo according to South Florida Business Journal and Miami-Dade County public records. The transaction was valued at $15.7 million. This is the second bulk deal to take place in the 516-unit Marina Blue Condominium in the last six months and this would total the closed units at 482 resulting in a 93% closing rate. Chicago based Corus Bank has issued a satisfaction of mortgage notice on its first mortgage to the developer of Marina Blue. In December of 2008 the developer sold 60 units in a bulk sale to Singer Island based Welcome Bay Inc. for $13 million.

This is good news for the residents of Marina Blue. Residents can breathe a little easier knowing that most of the units are now closed. Financing for new buyers in the building has been plagued due to these bulk deals and in conforming to Fannie-Mae guidelines. For the short-term new buyers into this building will be required to pay all cash or acquire a Non-Fannie loan at above market rates. I expect some of the Fannie-Mae guidelines to be rolled back eventually but we don’t know when.

Here are photos from Marina Blue:

A few weeks ago I had a second opportunity to run over to North Bay Village and to take a look at Cielo on the Bay. Cielo is a brand new boutique condominium tower built on the East fork of Harbor Island in North Bay Village. North Bay Village is a three island city located between Mainland Miami and Miami Beach. It is accessible via the Kennedy Causeway from Miami. Cielo was developed by Mario Egozi founder of Egozi Development, Inc. which has been in the real estate and construction industry for over 25 years. The building architect was Luis Revuelta and it shows.

Here are the photos of Cielo on the Bay:

So I was very impressed by the units at Cielo. The building is a 15 story boutique style building and consists of only 36 units with all units having a direct unobstructed Biscayne Bay view. There are only 4 units on each floor and are very spacious - 1820 to 1888 sq ft. There are also 2 large penthouses which have 1500+ sq ft roof-top terraces on the same level as the roof-top pool. Since the building is in the early stages of opening pricing is by request. So for a tour and the best deals on sales or rentals please call me at 305-213-0336 - Samir Patel, Miami Condo Realty, Inc.

Cielo Direct Bay Views:

Cielo Floor-to-Ceiling Glass:

Cielo Terraces:

Cielo Roof-top Pool:

Update: This unit has been reduced to $250,000 but subject to lender approval

We just listed We just reduced the price on Unit 2302 in brand new Marina Blue Condominium for sale. Our client is motivated and says bring us offers. Now a Shortsale! All offers are subject to lender approval. Call for details! Cash buyers preferred! This unit is in the 02 line which has views of Downtown, Bayside, American Airlines Arena, the Port of Miami, Biscayne Bay and parts of South Beach in the distance. The architecture is exciting with floor-to-ceiling and wall-to-wall windows. A definite must see. If you’ve seen our earlier posts of the amenities of Marina Blue, i’m sure you will agree this is one of the buildings on top of many buyer lists. This is the lowest priced 1 bedroom currently for sale on the higher floors. For sale @ $349,000 $299,000 $250,000 Short Sale!. This is far below developer pricing and comparables!

MARINA BLUE - 02 Line
1 Bedroom and 1.5 Bath
843 sq ft - Interior
152 sq ft - Terrace