Unless you have been living under a rock in the U.S. you have no doubtedly heard that National Basketball Association top free agent LeBron James has chosen to ‘take his talents to South Beach’. In reality he will be playing home games at American Airlines Arena which is in Downtown Miami (and not South Beach). The Arena sits at NE 6th Street and Biscayne Boulevard. To the South of the Arena is the entrance to the Port of Miami and Bayside Marketplace. Between a block and three blocks to the North of the Arena sit four condominium buildings: Marina Blue, 900 Biscayne Bay, Ten Museum Park and Marquis Condominium.

Soon after LeBron James’ signing with the Miami Heat, one of my clients from Switzerland asked if LeBron James’ move would have an impact on Miami Real Estate. My answer was simple – Absolutely! It will be tremendous for the Downtown Miami area. Season Tickets for the home games had immediately sold out. There will be more winning by the team. Additionally there will be more national television exposure for the team and a side benefit would be more exposure for the City of Miami. Think about the aerial video during the telecasts. So far the team is expected to be Nationally televised 30 times (out of 82 total regular season games). That is a huge number and will likely increase as they will be expect to go through 4 rounds of the post season.

Today it was anounced that 3 retail spaces across from the Arena at MarinaBlue Condominium had been resold. The spaces were purchased by a Sunny Isles Beach investor who paid $2.1 Million for 5,100 square feet. The space is expected to be converted to a restaurant and bar, with possibly a microbrewery. I remember showing a client the full commercial package at Marina Blue in 2008. At the time it was being offered for over $14 Million for roughly 40,000 square feet. Oh do I wish I had a crystal ball back then.

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I was on my way to Marina Blue Condo today to pick up something from the management when I noticed a ton of black smoke nearby. Luckily I had my camera with me and got to the scene just before the Firefighters got to the scene. A short school bus was completely engulfed in flames just steps away from the American Airlines Arena. The police worked quickly to keep everyone away. As I was standing nearby I heard a few loud pops (assuming it was probably the tires popping). It was unclear if anyone was still inside at the time of the fire but I think everyone got of the bus immediately before most of the damage, thank GOD

Here is the video in HD:

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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.

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