You can see it for yourself as you cross the MacArthur Causeway from Downtown Miami to South Beach - heavy construction efforts are beginning in front of the Children’s Museum as the massive $1B project kicks off.
While we can’t guarantee we have hit the absolute bottom signs certainly seem to be pointing that way:
It sure seems like the grim times are passing - we are seeing rents AND sale prices rising in a few select, premium buildings like 900 Biscayne Condo - and here are two great articles from the Miami Herald:
Fueled by Overseas Buyers, South Florida Condo Sales Soar
and
Here is a great New York Times article:
In Miami, Condo Sales Rise as Prices Bottom Out
about the rise in sales here in South Florida in the Downtown Miami, South Beach, and Brickell areas. Specifically mentioned is Icon Brickell and its current sales health.
Thanks David B for sending me this article!
Icon Brickell, I’ve mentioned it before - is now my #1 pick in luxury properties, particularly those looking for a potential rental property or vacation home. Pricing is as low as it is going to get with a high floor one bedroom in the $325,000 and up range sporting views like this:
Sales here are flying - reported to be ~200 units in the last two months since the developer dropped prices 30%. I was there for 3hrs this Friday and 2hrs this Saturday with clients and the amount of action I saw was amazing. If you are on the fence… I would get off it. The building has FHA approval so you don’t have to be an all-cash buyer, mortgages are welcome! There is also the Icon Brickell Viceroy Condo Hotel which I have not yet viewed which brings a slew of additional amenities to the Icon Brickell Condo project, an article on the Viceroy Hotel is forthcoming.
Once again for the 10th year running the ULTRA Music Festival came to Downtown Miami - but this year there was an important difference. What was that? Ticket sales DOUBLED with an approximate box office take of $12 million! This does not account for the additional food & drink, parking, and assorted extras nor the incredible increase in local business.
If you think Miami isn’t still one of the hottest places in the USA, let alone the world, you are mistaken - and sales pricing is beginning to reflect this once again as prices in some of the premium buildings begin to creep back up.
ARMiami has added a new page linking to our advertising gallery on Postlets.
There was a great article in the Miami Herald today, “New Life in Downtown Miami as Condos Fill Up“, talking about the high levels of occupancy in Downtown Miami and Brickell, the increased foot traffic, jump in number of businesses including restaurants and bars, and the decreasing inventory.
ARMiami.com has added a Skype ID so that International callers may contact us without imparting costly cellular fees. Contact via Skype is open to all but for US residents 305-785-4618 or info@armiami.com should be the primary contact method please.
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While preparing to show a high floor 10 line unit at 900 Biscayne Condominium I took this video:
I like the 10 line at 900 Biscayne Condo quite a bit - this is an 1,140sq/ft N/NE facing one bedroom plus den unit. Some of the features I like are the twin balconies (one each off the living space and bedroom), the second full bathroom, and an open kitchen facing the view.
