Over 90% Of Condos At Brickell Heights Closed In Less Than 3 Months

Related Group is likely realizing big profits at Brickell Heights, after buyers completed closings on the majority of condo units there.

There are 690 residential condo units in two towers. Since closing started in June, a total of 632 deeds, or over 90 percent, have been recorded in county records:

June – 207

July – 247

August to date – 178

At least two of those deeds are for commercial spaces. The ground floor retail space will include a Rosetta Bakery and a Capital One Bank. Another commercial space includes Equinox and SoulCycle. Both have been sold.

Between the two towers, about 80 units are listed as flips for resale on the MLS.

There are also about 230 units that are either listed, pending, or closed as rentals (some are double listed for rent and for sale). Rentals that have been completed have gone for about $2.70 per square foot.

 

 

 

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Anonymous

Fantastic for Brickell and Brickell Citycenter.
More pedestrians everywhere.
Great Equinox addition to Brickell.
Kuddos to Related!

Anonymous

More crowded narrow sidewalks.

Anonymous

Yeah, you can see in the picture all those people pushing and shoving and bumping into each other. Plus, look at all those bumper to bumper cars in the streets.

Anonymous

Great addition!!!. Please use part of the extra property taxes from these massive projects to build some decent Public Schools. We urgently need good Public Schools in the area.

Anonymous

The people in those condos aren’t sending their kids to Dade Public schools. Maybe the areas with the worse schools should use their own tax money to make their schools better.

Anonymous

Exactly! Theyre always looking for handouts from every person that’s working hard to pay their bills! I’m tired of paying for other’s children, and pay for Medicaid for people that arrive here pregnant & illegal!

Anonymous

And they down voted my comment for telling the truth.

Anonymous

Agree completely. Build a new elementary school and middle/high for downtown / Brickell.

To the poster below, plenty of people in Dade County with means send their children to public schools.

marc

Looks good to me.

Mathew

Feel sorry for the buyers. All of them overpaid by at least 15-20%. Ask buyers of Milleccento Brickell how they feel about their purchase 3 yesrs later. They loose money if they want to sell today.
Where is the deal in buying pre-construction? They just financed the construction of the building saving the developer a lot of money and risks.
Don’t be fool. The developers make a lot of money out of these projects. They should lower the prices so buyers can make a good deal from the beginning. But no, they just want big profits instead.
Sad this is the way it works.

Anonymous

The majority of the people who are buying pre-construction are trying to stash their money in a hurry anyway.

Fredric

Don’t feel too sorry for the buyers. Nearly all of them are worth tens of millions of $$ or more. If they wanted to invest their money in a Brickell Heights condo, I suspect they did not do so frivolously. More than likely, most of the buyers will just rent out their units, as is the normal pattern in downtown and Brickell so they’ll just sit back and collect rent checks while waiting for the resale market to improve in the long term. Meanwhile, this all will mean more people on the sidewalks of Brickell, more restaurants and retail traffic, more business activity overall, thus more demand for office space, more tax dollars and income for the city and a continually rising image for Miami on the world stage.

Anonymous

I’m not sure if any of you have actually be in BH towers, but I’ve seen about 5 units that have been completed, and I am shocked at how bad the finishing quality is. Off brand appliances, broken and missing hardware, kitchen handles that are thinner than your cell phone, a full height fridge that somehow has no space, a 2nd bath vanity that is wal-mart worthy, the list goes on. Do yourselves a favor and steer far away from this building.

Anonymous

are you surprised? luxury in name only.

Anonymous

What a surprise, nothing is built to last, and hasn’t for a long time. The last buildings with skilled workmanship here were those 1920s central courtyard apartments you see in Little Havana and used to Brickell.

Anonymous

Totally agree. I have seen 6 units and was pretty disappointed at the finishes. Would never recommend anyone buy there at current prices. Reach and Rise over at BBC are leaps and bounds more superior in finish and quality.

Anonymous

Yes, not surprised at all. This is the standard Related method…entice with a cool-ish 9if even) exterior design wrapped around crappy interiors and cheap construction. You can essentially apply this to any of their buildings from 2007 to present.

Anonymous

Nice.. time to clean up the avenue..

Anonymous

What a waste of money, like all the Related buildings. The rooms are super small, noisy AC units, small living room and kitchen space, and super over priced!

Related is the worst developer we have in Miami. Never buy any pre-construction with them. You have been warned!

Anonymous

I love the towers, but the base “art” looks like it was done with Lego. Looking at it gives me a headache. Please let it change to something more consistent and pleasing in the future.

Anonymous

How about windows with humans behind?

BOA

the ‘murals’ make the buildings look so 80’s…i don’t know what they were thinking

Anonymous

Even the 80s with all its cheesiness had class today’s degeneracy can’t ever hold a candle to.

Anonymous

3 identical towers of crappy materials and finishes. lovely !

Anonymous

+1

Anonymous

Yup

Anonymous

WOW, Look how ugly the base is in that picture!

123fgh

I like it