0 Brickell City Centre Beats The Heat

Posted on February 3, 2015 by Sean Greco

Brickell City Centre

The Brickell City Centre recently spent a hefty $30 million dollars to install a “climate ribbon”, which is intended to keep shoppers cool during the scorching summer months. This thousand-foot long canopy composed of steel, fabric and glass is designed to capture the breezes from Biscayne Bay in order to cool down the area for shoppers, as well as keeping them protected from bad weather, while still allowing natural light to shine through. The innovation is the first of its kind and was designed by the firm Hugh Dutton Associes of Paris along with the University of Carnegie-Mellon in Pittsburgh and the University of Cardiff. Catching the eye and impressing visitors were the original intentions of the climate ribbon, according to Stephan Owens the president of Biscayne Bay’s parent company Swire Properties. As Owens said in an interview with the Miami Herald about the project, “we challenged ourselves to think about the definition of urban retail in Miami. What should it be? Miami is really about its environment. That’s what people come to Miami for. So why build a large box that we would have to air-condition and that could be in Dallas or Atlanta or anywhere else.” There can be no doubt that this system will get people buzzing and draw crowds to the shopping center, eager to experience for themselves the massive ecological achievement which is predicted to stretch across four city blocks.

Brickell City Centre Mixed Use Development is just one of the many examples of local businesses using innovation in new and creative ways. Start-ups as well as established companies are flocking to Miami and surrounding areas, eager to be a part of the infectious atmosphere here lately. With so many new and exciting things on the horizon, now is the perfect time to invest in both residential and commercial real estate here in South Florida. So, if you are interested in searching Brickell City Centre condos for sale available today then contact a RE/MAX agent now!

0 Miami’s Commercial Real Estate Selling Fast

Posted on January 16, 2015 by Sean Greco

Brickell Bay Office Tower recently reached 93% occupancy, reflecting the raising demand for space in Miami’s growing business district. Christian Driussi, who is the vice president of leasing at Brickell Bay Tower, said that they completed 15 leases that totaled 53,000 square feet in 2014. These transactions were a combination of new leases and lease renewals, with some tenants expanding to the amount of space they rented in order to accommodate their growing needs, with the current average asking rent for the building being $44 per square foot. Brickell Bay Office Tower occupies a stretch of coveted Miami Beach shorefront and is prime space for businesses located in South Florida, so it is no surprise that it is almost all filled up. Miami’s financial sector has recently skyrocketed in popularity, with new companies vying for space in the city, which is quickly becoming known as much for its flourishing economy as for its sunny beaches and popular nightlife. Therefore it seems only a matter of time until Miami’s commercial real estate buildings such as Brickell Bay Office Tower reach capacity.

This recent finding reflects the growing demand for properties in Miami Beach, whether commercial or residential. South Florida has so much to offer companies and individual residents in terms of both glamorous luxury escape as well as thriving international business, so it is no wonder that the real estate market in the sunshine state is growing at such a rapid pace with listing selling quickly and often very close to the original list price. Now is the time to invest in real estate in South Florida, and a RE/MAX agent would be happy to assist no matter what sort of luxury accommodations you may be interested in so please feel free to contact an agent today!

0 Increasing Rents Spur Brickell Investment Properties

Posted on December 28, 2014 by Sean Greco

As 2014 comes to a close we can all look forward to a leveling off of residential rent, after a spike during the past year of 6%. Brickell Investment Properties has become part of Miami’s downtown residential development this past year and we’re pleased to say will be adding to the 2300 new apartments that will become available within the next 24 months. This is great news for potential investors because the surge in Brickell Condos for sale will ultimately cause prices to level off, offering more opportunities for those who want to live in Miami’s core district, which has seen a massive growth in the past few years. Demand for properties in the area continues to mount, so these new spaces will surely be in very high demand, particularly with their expected affordability.

The new year provides enormous anticipation with this exciting space opening, nearly doubling commercially owned rental opportunities for those who may have otherwise been priced out of the downtown district. With condos in such high demand now is the perfect time to invest before the demand outweighs the availability. To find out more and see some of the properties you may be interested in contact a ReMax agent today.

0 Pet Policies

Posted on July 31, 2014 by Sean Greco

For many pet owners, their animals are like family members. There is a reason that dogs are considered man’s best friend. Dogs (and cats we suppose) are excellent additions to any family, especially because, unlike children and other relatives, they don’t talk back. Plus, their love is unconditional, and they view their humans with the utmost adoration. Of course, when searching for a Miami condominium, it can be tricky to know whether your pooch will be welcomed because pet policies vary greatly. There is no hard and fast rule, and condo associations can impose animal restrictions (for example, no iguanas), breed restrictions (usually no pit bulls), and weight restrictions (50 pounds seems to be the standard maximum), among many other possible rules or regulations.

It can be especially difficult to find a pet-friendly place if your canine companion is considered a large breed, a dangerous breed, or a yappy breed. In addition, if you are interested in renting a privately owned condo unit, it is highly possible that the individual owner’s pet policy will differ from the policy of the building. For example, some Miami condo buildings readily accept 50 pound dogs, but an owner who just spent a great deal of money to put down new wood flooring in his or her unit may not be as accommodating. Specifically, many owners impose their own weight restriction, which often does not correspond with the condo association’s rules. This is generally because of an owner’s desire to protect flooring from getting scratched by an animal’s nails or furniture from being chewed or stained. The good news is that more and more places in Miami Beach are becoming pet-friendly. Hell, we’ve seen big dogs on leashes in Whole Foods Market!

Here at RE/MAX Paradise, we understand the importance of pets and strive to ensure that our pet-loving clients find the right home for all members of their family, both human and furry (or maybe scaly if amphibians or reptiles are your pets of choice). If you need help locating a pet-friendly building, whether rental or purchase, we have agents who are extremely adept at finding the perfect location, so please contact us to help!

0 The Time to Sell

Posted on July 23, 2014 by Sean Greco

There is a fair amount of debate in the real estate community about the time to sell a property. Most real estate gurus agree that winter, especially in areas that have actual winter weather (ahem, not Miami), is the least desirable time of year to list a property for sale. Frigid temperatures aren’t the only deterrent though. There are also all of those holidays and festivities, and most people aren’t interested in making big changes around that time. However, there seems to be quite a bit of disagreement with respect to the other three seasons. Some argue that spring kicks off the selling season, whereas others claim that the fall is the best time to list. There seems to be less adamancy with respect to summer, but the summer believers strongly insist that it’s actually a great time to begin the sales process because of the fact that inventory tends to decline, and a lot of folks start looking because they have a bit more free time. It does make sense that families with school-aged children would prefer to buy and sell during the summer months in between the academic year, so anyone with property in neighborhoods with good school systems should definitely keep this in mind.

The reality is that all of the assertions regarding the different seasons and whether they are the optimal time to sell property are probably true in some way. It really depends on so much more than the time of year. Specifically, the particular real estate market (which is of course highly local), seasonal trends, the economy, the cost of credit, and so many other factors affect real estate cycles. Miami real estate trends have varied from year to year, sometimes drastically and other times hardly at all. And, even though many real estate markets in other U.S. cities do have a tendency to cool during the hot summer months, this certainly has not been the case in Miami this summer. If anything, there is a forty-niners style land rush taking place in Miami with just about every waterfront piece of land sold, lots in and around Downtown Miami disappearing rapidly, and plenty of other eager buyers clamoring to buy whatever is left.

If you need to sell your property or are simply contemplating selling, the best thing to do is to start assessing the local market a few months ahead of time. Of course, markets can change quickly and markedly in brief periods of time. Nonetheless, by closely monitoring the situation over the course of a few months, prospective sellers should develop a good sense of the inventory and activity taking place. And, it is obviously wise to consult with a local expert to offer advice and guide you through the process.

0 Developments Are Transforming Downtown

Posted on July 18, 2014 by Sean Greco

Brickell, Downtown Miami, the Design District, and basically all of the other neighborhoods near or along the Miami River and Biscayne Bay are witnessing big changes, and it is all happening rather quickly, at least by Miami standards. It seems like every month there are new developments cropping up in Miami, and these developments are transforming downtown. And, as the developments are going up, so are the prices for land and the condos that are constructed on it. One of the most recent land sales involved a 1.25 acre piece of prime waterfront property. It sold for an impressive $125 million, which breaks down to $100 million per acre. The property was marketed as the last vacant waterfront site in the area, which probably helps to explain the hefty price tag.

Of course, that can’t be the only reason this particular piece of land commanded a record-breaking sale. The waterfront property has so much potential development-wise. In addition to providing plenty of space for luxury condo towers or high-rise hotels, which will inevitably include amazing views of the water, the property has access to a private dock that can handle not just any boat, but mega boats, as in mega yachts. Thus, it’s not surprising that the sellers of this choice piece of land received quite a few offers from overseas investors (from a few different continents we might add), all of whom were surely eager to snatch this up to start developing some luxury real estate. Hopefully, it won’t be too long before we see what the new owners plan to do with this Miami gem!

0 Featured Listing 500 Brickell Avenue Unit 1701

Posted on July 14, 2014 by Sean Greco

Brickell is where it’s at in Miami these days. Luxury condos are the norm, building amenities are amazing, the area has an awesome urban atmosphere, and there is loads to do in and around the neighborhood. RE/MAX Paradise has outstanding agents who specialize in the Brickell condo market. These agents have unparalleled market knowledge, and many of them not only concentrate on this particular market, but they live there as well, making them true experts on all things Brickell. If Brickell is your Miami neighborhood of choice, please contact us right away because units over there are selling like crazy.

One of our premier properties in the Brickell market is our current featured listing 500 Brickell Avenue Unit 1701. This stunning unit offers 3 bedrooms and 3 bathrooms with a spacious 1,616 square feet of living space. The modern kitchen has sleek countertops, beautiful cabinetry, and stainless steel appliances. The living room has floor to ceiling windows that allow plenty of natural light and spectacular views of the skyline, Miami River, and Biscayne Bay. This gem is within walking distance of supermarkets, pharmacies, restaurants, nightlife, public transportation, and so much more. Please take a look at the listing to learn more and to view all of the photographs of this gorgeous condo.

If you’re interested in this unit or any other Brickell property, please contact our listing agent today because this unit and the others won’t last long!

0 Brickell Condos Are Selling

Posted on May 19, 2014 by Sean Greco

There are a lot of condo projects under construction in Miami right now. Most of the construction projects are sprouting up east of interstate 95, and quite a few are in the Brickell area. Many people are concerned that this second wave of Miami pre-construction mania may lead to the same devastating outcome we encountered not too long ago. However, the pace at which Brickell condos are selling appears to paint a different picture. For one thing, the median price in Brickell has increased 44 percent since 2003. And, prices are only 14 percent lower than they were during the peak. This seems to indicate that Brickell condos were and continue to be pretty decent investments.

Fortunately, despite the spate of negativity associated with development projects, Brickell hasn’t lost its appeal. Case in point, the building MyBrickell has sold every single one of its 192 units since it began selling at the end of January. Most of the demand stems from foreign investors with cash on hand who are willing to pay more than half the price of the unit while the buildings are under construction. Many of these individuals reside in countries with volatile economies and view Miami real estate as a fairly safe spot to put their money.

MyBrickell isn’t the only development selling well either. Investors are purchasing condos in many of the other buildings dotted along Brickell Avenue. There are just too many projects to name them all, but the demand is certainly there and the supply of both resales and new construction seems to have created a healthy yet competitive market. In addition to developers adding more condo buildings to the skyline, the Brickell commercial sector is undergoing quite a makeover. The area is expected to see drastic increases in retail and restaurant options, as well as hotels and office space. Brickell already has so much to offer current and prospective residents, and soon it will boast even more variety, making it one of the best places in Miami to live, work, and play.

0 World-Class Destination in More Ways than One

Posted on February 28, 2014 by Sean Greco

Miami is a premier international destination for so many reasons. It has year-round sunshine, unbeatable beaches, an abundance of shopping, and plenty of entertainment and nightlife options. The population has been increasing gradually, and the downtown area in particular is undergoing massive developments. As the city grows, it is continuing to improve the roads, and developers are constructing condominiums in coveted neighborhoods to accommodate increasing demand.

Pretty soon, people may be flocking to Miami for more than a good time. Baptist Health South Florida, the largest non-profit hospital network in Miami-Dade County, has plans to establish a cancer treatment and research center in 2016. The hospital will be spending almost half of a billion dollars to build what is slated to be a leading health facility. The cancer center will offer clinical treatment and conduct research, and it will also provide proton therapy. It will be the first center to offer this unique treatment method in South Florida. Currently, there are only a handful of centers in the nation that provide this cutting-edge option.

Apparently, the hospital plans to recruit nationally renowned experts. Now, in addition to world-class beaches, shopping, and entertainment, Miami will offer residents and tourists world-class medical treatment. Fortunately, the location of this state of the art cancer center will provide individuals all over Florida and the southeastern part of the United States, as well as people in Central and South America, with access to better treatment.

Hopefully, since there are pre-construction condos popping up all over the city, out-of-state residents traveling to Miami for the unparalleled treatment this cancer center will provide will be able to select from a range of Miami properties to rent while they recover. Even though we don’t want people to come to Miami under such sad circumstances, we hope those that do are able to take advantage of Miami’s other attractions. At least the sunshine and beaches will offer somewhat of a reprieve.

0 Cash Really is King

Posted on February 10, 2014 by Sean Greco

There was a time when the seller of a property simply chose the higher of two or more competing offers. These days, a higher bid isn’t enough to close the deal. Limited inventory, tighter lending standards, and tedious paperwork pushes many sellers to look beyond the price offered. Most sellers eagerly accept a solid offer from a buyer who is both able and willing to pony up cold hard cash for the property in question.

In the Miami Beach real estate market, cash is definitely king right now. Motivated sellers know that a difference of several thousand dollars doesn’t really matter if the deal will be closed in a month rather than three. During those three or more months that it can take for a bank-financed purchase to close, the seller is still paying a mortgage, insurance, utilities, and possibly maintenance or association fees, among other expenses. Those monthly costs can really start to add up, and there could be additional snags along the way because of the requirements financial institutions impose.

There is so much demand for Brickell condos and Miami Beach condos that an offer from any serious cash buyer will likely trump a similar offer from a buyer seeking to obtain financing. Of course, buyers that are pre-approved by a lending institution shouldn’t be discouraged because there are other ways to show a seller a serious commitment to sealing the deal, such as waiving financing or inspection contingencies or plopping down a hefty down payment. The bottom line is that buyers should be thinking of creative ways to craft attractive offers, including coming up with a good chunk of cash to sweeten the deal.