Robotic Parking Garage Failure At BrickellHouse Has Minor Impact On Rental Prices

Despite the failure of the robotic parking garage system at BrickellHouse, rental prices are holding fairly steady.

MLS records show that 75 units have been rented this year, with an average price well above $3 per square foot. The average price has remained flat since the building’s opening, when problems with the parking garage became apparent.

Sales prices have dropped though. There are 82 active listings in the 374-unit building. Some closings have recently taken place at about $400 per square foot, which is at or above the preconstruction prices, but below what they were worth when the building opened.

A lawsuit by the association against the developer remains ongoing.

 

 

 

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Mark

Potentially a sign that the car-less rental market is doing well and can support more growth.

laz

no thats not it

Marc305

We have rented 5 units in this building, most of the feedback has been mixed with the robotic garage being the biggest source of complaints. The location of the building will keep the rentals stable, after all it is in the heart of Brickell.

aceraroja

It’s in the heart of an extremely walkable, bikeable, transit-rich neighborhood that is so packed full of amenities people barely need to leave anyhow. In other words, parking doesn’t matter and new construction of garages over time can be phased out completely in the urban areas of Miami. It will happen.

Anonymous

These failing robotic car garages are going to have me afford these units or others with them. Excellent.

Anonymous

Can TheNextMiami post my instagram also? I need more followers!!!!

Anonymous

Hahaha they disabled the comments on that post about Gil Dezer. He must have bought the post.

Anonymous

This building has the best amenities in the area, two pools, theater, large health club, view of the bay and best location in Brickell. So far, the valet is working just fine. Once the present robotic system is replaced with the german built one, the building will be close to perfect. Wish other buildings in the city were as classy and elegant as Brickellhouse.

Broker @ Plaza Brickell

I disagree. You have to take into consideration the time on the market which is how long it takes now to rent a unit at Brickell House. I work at the Plaza Brickell and I had several tenants moving out of Brickell House because of the parking situation.

mondocondo

Rental statistics are distorted by the relatively small size of the units here, so rental $/SF is inflated. cheers

Ilovearchytecture

those renters don’t have ( or need) a car or don’t have a brain!!!

When you have a robotic car condo in the heart of Brickell it takes the same time to get in the core of down town, like the time it takes to come from Kendall , so why pay 3$ sqft for rent?

3$ sqft means 3,000$/ month for 1,000 sqft apartment ( assuming is a 2/2) that’s a big mortgage we got there!!!!

Milleniuns don’t mind the inconvenience as long as is robotic , welcome to the 21 century

Driving on a mule take you faster from Brickell House to the financial district than a Porsche

Marc305

Your comment makes it seem as if people who chose to live in Brickell have to stay in the confinement set by how far they can walk or by the public transportation available to them, and that is simply nor right. A good percentage of them need to go to other areas that requires driving a car. People who can afford $3 a square foot expect and deserve the ability to do so. Brickell House needs to fix this problem, period.

Anonymous

Brickellhouse has valet service and a big parking garage next door that offers monthly parking. The robotic garage will be replaced by a different system soon. It is by far the most luxurious building in the area. Once the garage is fixed, it will be a jewel of a building in the heart of Brickell.

marc

Keep selling, anonymous. Good job

R U serious?

More luxurious than Jade? More luxurious than Four Seasons? Brickell House is not even the most luxurious building on the block. To say that Brickell House is “by far the most luxurious building in the area” is quite the exaggeration.