EWM Realtors » Downtown Brickell

Brickell and Downtown Miami Investors Report: What buildings best to invest in? – Part 2

David Siddons — Wed, 13 Mar 2013 19:17:55 +0000

One of the most commonly asked questions from my clients is: ‘What are the best Condos to invest in?’

When considering to buy Miami Real Estate as an investor or as an end-user there are a few indicators that one should always consider. In my previous blog I mentioned 3 important indicators being: Price per Sq.Ft, Maintenance costs per Sq.Ft and Financial stability of the Association as one of the most important factors. In this blog I will concentrate on the influence of new developments and the Risk vs Return Ratio when investing in Miami Real Estate.

The announcement of Icon Bay elevated the popularity of the Midtown/Wynwood corridor. Paramount Bay sales profited tremendously

Paramount on the Bay’s prices increased considerably from $451 to $622 per Sq.Ft. over 1 year

For investors in Miami Real Estate the below two indicators are of great importance:

4. Surrounding Developments

When buying a condominium unit it needs to be considered what the upcoming developments are in the area. Request as much information as possible to get a view about how this part of town will look like in 5 to 10 years. A good realtor will be able to tell you all about this. For example the new SLS Residences in Brickell is a new, highly demanded and luxurious condominium complex. However when buying a unit in this new construction one has to take into consideration that there is an empty lot next to the new construction where a new high rise will be built witin considerable time. So for those investors wanting a unit with a view this is something to take into account. Also the arrival of several new condominium with the same concept might influence the prices between them. Buying a new luxury condo while knowing that in one year a more luxurious and better located condo might be build on the next lot will not be a good investment.

The arrival of new condominiums and/or other developements dont always have to be negative for your investments. For example the prices of Paramount Bay in Midtown have been driven up due to the announcement of Icon Bay. Also prices in Midtown and Downtown have been upsurged due to developments in Wynwood/design district and the announcements ofMiami Resorts World.

In Brickell downtown the announcement of Brickell Citicentre caused a higher demand for new condos and a growth in current prices.

Please check my blog for all new Brickell and Miami Downtown developements

The new Cartier Boutique in Miami’s Design District.
Many luxury brands just opened their doors in the Disign District giving a boost to Real Estate the Area

5. Risk Ratio

Just like for any other type of investment, the theory of risk vs. return goes up. The higher the risk one is willing to take the higher the return one can get. There is a different risk ratio for newly developped areas versus older, more established areas. Areas like Brickell Key are established and although prices will continue to rise (Limited offer since there will be no new buildings on Brickell Key) the prices will not make equal jumps as we can see with some of the new developments in recently developed areas.

The developments of new buildings in areas with other new developments might cause a hype which might increase prices in a fast speed. For example we had a client buying a unit at Paramount Bay which was bought at $359,000 unit (1bedroom + Den) from the developer in 2011. An equal unit at a lower floor has been sold last year (Aug 2012) for $520.000, that is a 44% increase in just over a year.

That having said, new developments can also pose a higher risk as the demand for the building might be disappointing or a new, more fancy condo tower is announced shortly after launching.

For more information on Real Estate Investments in Miami please contact me at 305 508 0899 orsiddons.d@ewm.com.On my website: www.luxlifemiami.com you can find any information needed as a buyer or seller of real estate such as an up to date and accurate overview of all properties on the Miami market, an overview of all Condos in Miami Downtown, Brickell and South Beach and Single family homes for sale in Coral Gables, Coconut Grove and South Miami as well as testimonials from my clients. I also have a Youtube Channel on which I regularly post videos of new and hot properties in Miami

I am a specialized realtor in the sale of luxury condominium in and around Miami and luxury single family homes. representing buyers, sellers, landlords and tenants. I cover and specialize in real estate in the following neighborhoods: Coconut Grove, Coral Gables, South Miami, Pinecrest, Brickell, Downtown, Aventura and the Miami beaches

I believe in providing the most up to date relevant figures and comparisons. This is why I created my site and my blog; to give you the power and the ability to make the right choices. Regardless of whether you are buying, selling, renting, leasing, or investing I am here to help you make the right decision.

‘Show the clients the facts, be totally honest and combine with the most useful and up to date market analysis and you have the best resource for buying and selling real estate in Miami.’

Convenient Units Rent at Premium Rates

EWM Realty International — Tue, 12 Mar 2013 15:00:01 +0000

Photo Courtesy Blue Skyz Media

It’s all about location, location, location. Even within Miami’s core, rental rates will vary by sub-areas.

“A rental unit that is located in an area that affords convenience to where people are going to work, eat and play will command a rent premium, especially newer units,” said Denise Sicuso, managing broker of EWM’s Brickell office, in a Miami Today News article.

Ms. Sicuso told Miami Today that, according to EWM’s Facts & Trends and the MLS, condos for rent in Brickell Key, Brickell Avenue between 15th Road and Fifth Street, and in the downtown area, were commanding almost $2.50 per square foot in the fourth quarter of last year.

Meanwhile, condos on Brickell Avenue south of 15th Road and just outside of downtown, in Wynwood and the Design District, are fetching just under $2 per square foot in monthly rent.

The same article makes mention of the lack of new inventory released on the market in the last five to six years. Combined with limited financing available for those wishing to buy, this has made the rental market extremely competitive.

Once some of the condo towers that are in-the-works for downtown Miami are completed and more units become available, rental rate increases are expected to level off.

Sunrise – November Inventory Still Low

Raul Zaldivar — Tue, 08 Jan 2013 20:50:37 +0000

The months of inventory remained relatively flat at 1.9 in November 2012 as compared… Read full article at: https://ewm.box.com/s/j8cwx8i3iswdkv2hs4qw

Zeder Team Recently Closes Sale in Palmetto Bay

Judy Zeder, P.A. — Wed, 02 Jan 2013 20:08:24 +0000

The Zeder Team ends one of its best years with another year end closed sale, this one at 8101 SW 162nd Street, Palmetto Bay. A great value, the home was listed at $535,000 and sold for $500,000 on December 13, 2012. “The house is comfortable and spacious. It has a large, screened pool and most importantly, both house and grounds have been impeccably maintained,” says Nathan Zeder. “It sold quickly and at a good price just in time for Christmas.”

Zeder Team Price Reduction at 9540 Journey’s End Road

Judy Zeder, P.A. — Thu, 20 Dec 2012 01:41:17 +0000

Significant price reduction on the world class estate located at 9540 Journey’s End Road in private, guard-gated enclave of Journey’s End. If you have not been to see this incredible home of vaulted ceilings and marble floors, spacious and modern living and private rooms and 5-star resort quality backyard on nearly 2 acres of tropical paradise, then you must make it your first resolution for the New Year. Call Cristina at 305.960.2473 to schedule a showing. Original listing price, $9, 850,00. Now $8,375,000

New Zeder Team Listing on Riviera Golf Course

Judy Zeder, P.A. — Wed, 19 Dec 2012 20:41:59 +0000

Great new listing for the Zeder Team! One of Coral Gables loveliest historic Colonial Revival style homes presides over the 15th hole of Riviera Golf Course. Lovingly restored 2-story 4BR/3.5 BA main house is wrapped in magnificent, covered balconies and offers spacious & elegant living & private spaces. Genteel rose garden directly on the green features dark surface pool, old brick pathways & deck, cabana half bath, ivy covered walls & fountain, copper roofed summer kitchen w/expansive dining area. 2 car garage has 2^nd story 1BR/1BA apartment. Listing price, $3,425,000. Call Judy Zeder, 305.613.5550

Pembroke Pines – Healthy Absorption Rate Continues

Raul Zaldivar — Wed, 19 Dec 2012 17:03:49 +0000

…47% of the total for sale single family homes were sold in the month of November as compared to 52% in the previous month… Read full article on my December Newsletter at: https://ewm.box.com/s/bfuvffffwjtg9vhwzsds

Zeder Team New Listing! Great Value in Older South Miami 3/2

Judy Zeder, P.A. — Tue, 11 Dec 2012 21:01:53 +0000

This great new listing for the Zeder Team needs some updating to be perfect family starter home. Perfectly located in a quiet, South Miami neighborhood just west of US 1 and close to expressways and schools, the home has a generous backyard, oversized pool and 2-car garage –good bones and layout. For more information, call Roque Castro 786.302.9578

Zeder Team Just Sold! 6/5.5 on E-Lake

Judy Zeder, P.A. — Sat, 08 Dec 2012 15:21:20 +0000

Tropical paradise at 9240 SW 142 Street on E-Lake just sold for $1,060,000. “It’s a recreational wonderland with a beach on the lake, tiki hut and BBQ and private dock for jet skis in quiet South Dade neighborhood. And the house is wonderfully maintained,” says Nathan Zeder. “It made my job pretty easy.”

Zeder Team Just Sold! Grand Scale Pinecrest Home

Judy Zeder, P.A. — Thu, 06 Dec 2012 01:48:43 +0000

Grand scale 6 bedroom, 7 full and 2 half bath home and gardens on 1+ acre at 9829 SW 62 Court in Pinecrest just sold for $3,200,000. “A little patience went a long way to getting very close to listing price,” says Nathan Zeder. “And that’s what we always want, happy buyers and happy sellers.”