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.

 

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Anonymous
2 years ago

Give me 50% back and I’ll consider…

Miami Hurricane
2 years ago

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
2 years ago

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

Miami Hurricane
2 years ago

Have you ever compiled a plethora of residential comps?

Anonymous
2 years ago

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
2 years ago

Previous purchasers won’t be too happy…

¯\_(ツ)_/¯
2 years ago

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

Anonymous
2 years ago

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
2 years ago

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

Magazine
2 years ago

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

Anonymous
2 years ago

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

Polo
2 years ago

FAKE ECONOMY, FAKE PRESIDENT!!!

Anonymous
2 years ago

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

Anonymous
2 years ago

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

Anonymous
2 years ago

Self-identifies as your president. Stop the bigotry!

Anonymous
2 years ago

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
2 years ago

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

Anonymous
2 years ago

“Miamiam?”

Anonymous
2 years ago

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

Anonymous
2 years ago

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

Anonymous
2 years ago

Fire sale for those patient….

Anonymous
2 years ago

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

Urban Realist
2 years ago

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
2 years ago

Great incentive for amazon HQ elites

Anonymous
2 years ago

Brickell CitiCentre and Swire must be soooo desperate!

Anonymous
2 years ago

Time to start new development cycle.

Anonymous
2 years ago

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
2 years ago

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

Anonymous
2 years ago

You know nothing about real estate!