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MARKET WATCH

Blissful Living On The Water: Turnkey 3-Bedroom At The 400 Sunny Isles Hits The Market For $1,230,000

November 16, 2016

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3 BEDROOMS | 3 BATHROOMS | 1,860 SqFt | Offered at $1,230,000

Unit #1220, the most spectacular 3-Bedroom Duplex at the 400 Sunny Isles just hit the market for less than $675/SqFt. Recently finished and decorated with high-end designer furniture, the apartment is the best deal for a furnished 3-Bedroom under $1,5 Million in Sunny Isles Beach. Considered one of the best floor plans in the building, #1220 is a two stories unit where the living room, kitchen, second and third bedroom are located on the first floor and the master suite takes the whole second floor with plenty of closet space for the fashionistas aboard. The south exposure boasts spectacular views of the intracoastal, Sunny Isles Beach shore line, Oleta National Park and the Downtown Miami skyline farther in the horizon.

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The 400 Sunny Isles is a luxury boutique condominium delivered in early 2016 composed by two towers with less than 120 units each. A sense of exclusivity and personalized service can be felt as soon as you arrive at the port-cochère. The location is fabulous: in the heart of Sunny Isles, only 500 feet from the beach and in the best parcel of the intracoastal. Besides being the only luxury building with private wet and dry marinas in the area, the 400 features a clay tennis court, fitness center, his-and-hers lockers rooms, sauna, steam room and a water front pool deck with an open-door lounge/bar, a lap pool and a 20 people jacuzzi.

Click HERE for the Virtual Tour.

And to know more about why this is currently the best deal at the 400 Sunny Isles or to schedule a showing, please do not hesitate to contact me.

Why It’s Time To Change The Management Team At The Icon Brickell

October 18, 2016

As a broker and resident at the Icon Brickell, I have seen tremendous change in the building’s value and turnover in the past two years. Between the three towers, the average price per square foot dropped in almost 20% from November, 2014 and the number of apartments sold in towers I and II fell from 101 between October 2014 and September 2015 to roughly 66 from October 2015 to September 2016, reducing the turnover in more than 30%.

That’s huge considering that the Icon Brickell is one of the premium condominiums in the Greater Downtown Area. It has the most incredible amenities and is one of the few modern residential buildings in Brickell that is right on the bay and has unobstructed water views. None of the other luxury waterfront condos in Downtown and Brickell have suffered the devaluation that the Icon Brickell did in the past two years. Comparing to the new constructions coming up in the area, the Icon Brickell is still a unique property with singular features and its prices should be aligned with those at Reach and Rise at Brickell City Centre and SLS LUX, which are newer but don’t have the amenities neither the views that the Icon Brickell have and where nonetheless units are selling for more than $650/SqFt and rising while at the Icon prices are going down and almost below $500/SqFt.

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What explains then the price drops of the past two years? Mainly the way that building is being managed by the current board of directors and First Service Residential. The pool deck renovation and the ways the Homeowners Association chose to communicate and deliberate about it hurt the building immensely. It was almost two years of hush-hushed, unclear and confusing information which led to a high-level of uncertainty about the building’s future and pushed away a great number of home-buyers, tenants and investors. When the pool is reopened it will be at least 4 years that the building will have hurt because of bad management.

“The Icon Brickell is an incredible property and deserves great, transparent and residents oriented management. It also deserves the best and most elegant kind of service to match its impressive amenities and beautiful views and attract the most distinguished residents and investors” 

Nonetheless, the hostility and entitlement that marks the way that the management office and front of the house at the Icon Brickell treat its owners, tenants, brokers and property managers who work in the building is far from the kind of customer service that you expect to encounter in luxury condominiums. Elegant, catered and distinguished service have a direct impact in increasing a building’s prestige and value, as much as hostility, entitlement and a lack of understating of what it means to be of service to a community have in decreasing it.

For the first time since the building was turned over by the developer to the Homeowners Association, there is a movement from a number of Icon Brickell owners to achieve the minimum 20% quorum and hold democratic elections for the board on the next November 1st. When trying to obtain more transparent information about how the building is being run and work with the current board to improve the quality of life and service in the community, those owners faced such resistance and rejection by the own board and the First Service Residential Team that decided to create the Icon Owners Group and run for seats on the Towers’ Boards.

“Unfortunately, the current management has failed the building and its residents and the numbers mentioned before are merely the reflection of it. It’s time for a change and that’s why I support the Icon Owners Group on the next November 1st election for the board of directors of towers 1 and 2″

The Icon Brickell is an incredible property and deserves great, transparent and residents oriented management. It also deserves the best and most elegant kind of service to match its impressive amenities and beautiful views and attract the most distinguished residents and investors. Unfortunately, the current management has failed the building and its residents and the numbers mentioned before are merely the reflection of it. It’s time for a change and that’s why I support the Icon Owners Group on the next November 1st election for the board of directors of towers 1 and 2. Get involved, your vote counts to reach the minimum quorum and to change the history of this beautiful community.

Disclosure: I am not running for a seat the board of directors of the Icon Brickell Towers and neither intend to.

For more information about how to cast a vote in the next election, please do no hesitate to contact me.

America’s median income raised 5.2% in 2015

September 13, 2016

We are getting back on our feet. 2015 marked the first increase in median income since 2007. Median household income raised 5.2% in 2015. The middle class appreciates it!

Ps.: Low unemployment rates and median income recovery means higher interested rates in the near future. It’s time to lock that low interest rate in the purchase of your home. Don’t postpone it! Interest rates have never been so low as in the past few years.

Read more at: http://money.cnn.com/2016/09/13/news/economy/median-income-census/index.html.

Just sold: 400 Sunny Isles #1404 (First Resale In The Building!)

June 20, 2016

We are very pleased to announce that we have recently sold the first resale at the 400 Sunny Isles by representing both the seller and buyer in the transaction. Although the building has currently other 94 units available for sale, we were able to make our listing stand out to our own buyer, who also visited several other units in the building. People were excited about our listing because our seller, following our advice, made essential changes to the original floor plan and finished the unit with just the right materials to make it appealing to the broadest market possible. The building was delivered by the developer Key International in the end of 2015 and features a full-service private marina, modern gym and spa, bay-front pool and two clay tennis courts. The 3 Bedroom, 2.5 bathroom with unobstructed intracoastal view sold a little under $600/sf for $1,090,000. We should be launching the sale of another amazing listing in the building soon. To learn more about the 400 Sunny Isles and some of the best opportunities currently available for sale in the building, just give us a call or send an email to rodney@miamipropertyexpert.com.

Missoni Baia: 7th ultra-luxury condo coming to Edgewater this cycle

May 24, 2016

Edgewater is changing and booming with ultra-luxury condos. It’s not wrong to affirm that Edgewater is the home for the most luxurious set of new constructions being built in the Greater Downtown Miami during this cycle. Biscayne Beach, Aria, Paraiso Bay, One Paraiso, Gran Paraiso and Elyssé are part of that select group of water front high-rises being built by a team of world renowned developers, architects and interior-designers. In addition to them, the construction of a 57-stories tower carrying a well-known Italian fashion house name was recently announced. Missoni Baia is the first residential venture and collaboration for the Italian brand and will incorporate Missoni’s color palette and Missoni Home collection in the tower’s common areas. The building will have only 146 units and three units per floor – all of them with semi-private elevator opening directly to the apartments’ foyers. Units range from 2,400 to 3,670 square foot, with 2 to 4 bedrooms, floor-to-ceiling glass windows and 10 foot deep bay facing terraces. Launching prices are from $1,700,000 to $3,900,000.

Here is what the Missoni Baia architect Hani Rashid of the New York firm Asymptote Architecture told the Miami Herald about the project: “From the New York perspective, we’ve watched Miami grow up, jealously at times, and it is becoming a more sophisticated global metropolis. For us, it was really exciting to design a building that can meet a high bar that is being set in recent years. We’re excited to be a part of the new Miami’.

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Click here for the Miami Herald’s article about Missoni Baia and the ultra-luxury condo market in Miami.

View from the 400 Sunny Isles #1404 – Offered at $1,290,000

March 10, 2016

3 Bedrooms | 2.5 Baths | 1,865sf | Offered at $1,290,000

New Construction in Sunny Isles Beach. Finished unit with improved floor plan. Only building with dry and wet private marina in Sunny Isles. More info and pictures coming soon. Stay tuned!