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Swire Inks 15 New Contracts In Six Months At Brickell City Centre

Publicly traded Swire Properties released their quarterly earnings late last week.

As of February 9, 2017, the developer had signed contracts to sell 353 units at Reach Brickell City Centre, and 185 units at Rise Brickell City Centre. Prices at Reach average in the mid-$600s, with Rise in the high $600s. Both buildings have 390 units.

On August 16, 2016, the developer reported 349 contracts at Reach, and 174 units in contract at Rise. The net addition over the past six months is 4 units at Reach, and 11 units at Rise, for a combined total of 15 units.

While new sales have been noticeably slow, closings have been moving quickly. The first units at Rise began closing in mid-September 2016, and about 175 have closed as of February 13, according to county records.

At Reach, closings began in April 2016, and about 360 have been closed. Just one unit at Reach has closed since the start of 2017, however.

No update was provided on the second phase of the project, One Brickell City Centre.

 

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5 Comments on "Swire Inks 15 New Contracts In Six Months At Brickell City Centre"

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Yet Another Anonymous
Yet Another Anonymous

I think OBCC will be waiting a while, even though a lot is office, it is mixed-use with residential which is now weak.

Anonymous
Anonymous

They should do just AAA offices and call it a day.

Anonymous
Anonymous

So about 240 condos remain between the two of them. Not the best, but not horrible either.

Luis Herrera
Luis Herrera

15 units in 6 months? thats more than horrible

Urbanist242
Urbanist242

Cant wait for next year when I can get a deal on the oversupply.

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