Brickell Real Estate Update: Condos

by Jamey on November 25, 2008

Currently there are approximately 1140 condos on the market in the general Brickell Area. 147 are in pending sale status and 43 sold last month. Out of the 43 that sold, 13 were units in the Vue at Brickell.

One of the least expensive units that sold was in the Four Ambassadors Condo located at 999 Brickell Bay Drive.  It is a 500 square foot studio, with monthly maintenance fees of $353.  It was also a bank owned foreclosure property.  It was listed at $76,200 and sold for $73,800. 

FOUR AMBASSADORS

In consideration of the middle price points pulled from the statistics,  a 2 bedroom 2 bathroom unit at Brickell Park Condo located at 2501 Brickell Avenue was originally listed for $319,900 and sold for $250,000.  It’s original price was at $319,900 and was eventually reduced to $250,000.  This is a very good case in point to show why if Sellers choose to sell in this market, they need to be prepared for aggressive price reductions in order to get the property to a price point where the showings start which eventually leads to an offer (if price, condition and location are all in sync).  According to the MLS, it was on the market for about 5 months.   The monthly maintenance for this unit was list at $503 per month. 

BRICKELL PARK CONDO




One of the more expensive properties that sold in the Brickell Area was sold in Carbonell, 901 Brickell Key Bl. It was a 2591 square foot, 3 bedroom 3.5 bath property located on the 20th floor.  Monthly maintenance is list at $1157.  It was listed for $1,295,000 and sold for $1,106,150. 

CARBONELL CONDO

Have more questions about Brickell Condo Market?  Call me today?  305-793-8965

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