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 sold

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

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.

I am excited to present that finally the Related Group has slashed prices on 500 Brickell. Many agents and brokers knew this had to happen some time or later as sales were taking place slower than expected over the last year. So finally Related has reacted to the market and is making it that much more affordable to own a brand new condo in the sought after neighborhood of Brickell. I must first say that 500 Brickell is one of my favorite new buildings in town. It has more of a hotel like feel than many of the other condos in Miami. It also has a very nice ammenities package including a seperate lobby for each tower, a huge swimming pool in the middle of the building with a large pool deck, a sports lounge, theater, full service gym, resistance pool, and a roof-top pool and sun deck.

So now the affordable 1 bedrooms in 500 Brickell can be picked up starting from $216,900 and up to $300,000. Also 2 bedrooms are available from just over $300,000. In the past these 1 bedrooms sold for $300,000 and up, and the 2 bedrooms from $380,000 and up! So if you’re interested in taking a tour of the building give me a call. I also have the full price sheet so I’m sure we’ll find the best option for you. Here are the photos:

Lobby of 500 Brickell East Tower:

Kitchens of 500 Brickell:

Bathrooms of 500 Brickell:

Residents Room:

Gym:

Spa:

Roof-top Pool and Sun Deck:

Here are the amenities for 500 Brickell:

Over 20,000 sf. of premium retail space.

Valet parking.

Parking in secured garage.

24-hour controlled access.

Convenient mail and package receiving desk and concierge.

4 high-speed resident elevators per tower.

Unique design by award winning architectural firm, Arquitectonica.

Magnificent lobby and common areas by world renowned designer Michael Wolk.

42nd floor rooftop pool (heated) and pool deck offering all 500 Brickell residents incredible bay and downtown views while swimming, sunbathing or partying.

11th floor urban oasis: pool deck with circular infinity-edge pool (heated) and daybeds.

11th floor club room with warming kitchen, billiards, and bay views.

11th floor spa and fitness center overlooking the city.

Incredible city and bay views.

Advanced technology “Smart Building”, pre-wired for Wi-Fi high-speed Internet, data/voice and cable TV access.

Each residence will receive a wireless smart screen touchpad tablet, which the resident can use to access all of the building’s amenities and services. The building, as well as the touchpad, is fully upgradeable with a dizzying array of techological wonders.

Environmentally friendly “Green Building” features.

High-tech trash chute sorters that allow residents to send down their recyclables and waste.

Energy efficient, tinted impact-resistant sliding glass doors and windows.

Energy efficient air conditioning and heating system.

Spacious living room with adjacent terrace (see individual floorplans)

Spacious walk-in closets.

Glass balconies featuring fantastic views.

Secure elevators to be accessed by resident key-fobs or access cards.

Top-of-the-line full-size stackable wasther and dryer.

Designer carpet in living and bedrooms.