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.

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:

Recently the developer of the 1800 Club Condos reduced their pricing on all units. This is a great opportunity to buy brand new units at foreclosure and short-sale prices. But instead new and directly from the builder. 1 bedrooms begin from $165,000, 2 bedrooms from $235,000 and 3 bedrooms from $540,000. 1 bedrooms in the past have sold over $240,000, 2 bedrooms over $320,000 and 3 bedrooms over $700,000. For private showings please call Samir Patel – Broker of Miami Condo Realty, Inc. at 305-213-0336.

Call us today to come see the last of the Developer inventory in Quantum on the Bay. Limited deals are available for qualified buyers! We have units in only a few remaining lines. Contact building specialist Samir for showings @ 305-503-6183