Swire Giving 10 Percent Rebate On Condos At Brickell City Centre

New incentives have been put in place to sell off remaining condo units at Brickell City Centre, according to The Real Deal.

Buyers are being given a check for 10 percent cash back on their purchase price, plus two years of condo fees paid for, ISG principal Craig Studnicky said. ISG has been managing sales and marketing of condos at Brickell City Centre since last year.

On a $1 million unit, the incentives could be worth $130,000, including 10 percent cash back and about $15,000 of fees for two years, the website wrote.

In a February 1 report to investors, developer Swire Properties said that a combined 611 of 780 units have been sold at the Reach and Rise towers at Brickell City Centre, or 78 percent.

At Reach, 363 of 390 units were sold at prices in the mid $600s. At Rise, 248 of 390 units were sold at prices in the high $600s.

The report from TRD said that 19 percent of the combined units at Brickell City Centre remain to be sold. There are 150 condos out of 800 still available for sale, the website is reporting.

 

29
Leave a Reply

  Comment Notifications  
newest oldest most voted
Notify of
Anonymous

Give me 50% back and I’ll consider…

Miami Hurricane

When idiots complain.
1. Current owners had first pickings. These are the units people don’t want. They have to sell at a discount or they will remain vacant.
2. Selling at LISTED price with a REBATE allows the current owners to maintain market value with comparable deals. This way if they need to exit short term, they can still sell their unit in the current market at its going rate, not 10% less.

If you are pissed off because you purchased your unit there early, the onus is on you for buyer’s remorse and due diligence.

Anonymous

Do you really think the market prices don’t adjust to that rebate?

Miami Hurricane

Have you ever compiled a plethora of residential comps?

Anonymous

There’s just too much high end luxury condos being built. Even as an investment it’ll be harder to rent out and make a profit compared to buildings next door.

Anonymous

Previous purchasers won’t be too happy…

¯\_(ツ)_/¯

I mean, these new owners get sloppy seconds but I can see how some will still be mad…

Anonymous

Smart people buy in buildings with unobstructed water views like directly on the bay or directly at the ocean that cannot be blocked. There’s way too much of this kind of inland blocked view inventory at high prices. Normal market correction.

Anonymous

I was always under the assumption that “smart people” purchased in areas that are really popular?

Magazine

I guess they won’t be starting their new tower anytime soon.

Anonymous

But, but, Trump said the economy is doing “tremendous.”

Polo

FAKE ECONOMY, FAKE PRESIDENT!!!

Anonymous

But Polo, Fox News thinks Trump is a “GENIUS!”

Anonymous

GREEN NEW DEAL, FREE HOUSING IN BAL HARBOUR!!!

Anonymous

Self-identifies as your president. Stop the bigotry!

Anonymous

This shows that the dollar is too strong against foreign currency. The buyers of these units were mostly non-residents. Now maybe Americans will buy.

Anonymous

buy it, take the 130k, buy a cheap house with the 130k, sell the condo and live like a Miamiam

Anonymous

“Miamiam?”

Anonymous

It’s what we call residents who didn’t come here from a mud hut.

Anonymous

So, what do you call the people who came here from “mud huts?”

Anonymous

Fire sale for those patient….

Anonymous

The mighty Swire limping a bit, can’t deliver long-planned super tall.

Urban Realist

Swire finally decided to join the rest of the developers. You can’t sell without incentives in this market. There is much better product in the market for less.

Anonymous

Great incentive for amazon HQ elites

Anonymous

Brickell CitiCentre and Swire must be soooo desperate!

Anonymous

Time to start new development cycle.

Anonymous

Nothing screams confidence in plunking down hundreds of millions of dollars to build new inventory like having to discount the sunk capital you need back through aggressive discounting and incentives for the current inventory on your books that you’re having troubles unloading now…

Anonymous

Sorry but that’s the nature of a capitalistic system.

Anonymous

You know nothing about real estate!