Brickell.com founder, Andres Larin, examines Miami’s best real estate deals and highlights ongoing market trends.
Located in the heart of Downtown Miami, 50 Biscayne‘s two-bedroom condo unit #3211 has seen a drastic drop in price–it’s original listing price of $425,000 has been reduced to $399,000. This change puts the unit at almost $15,000 less than the next eleven line in the building (unit #3411 is currently listed at $414,900; unit #4011 is listed at $425,000.)
Credit: Nuurs Ortiz
The condo is a corner unit featuring a massive wrap around balcony, laminate wood flooring, three large walk-in closets, Bosch and Kitchen Aid appliances, and a Nest thermostat. I don’t forsee this unit lasting on the market much longer considering that the last unit in the eleven line, unit #4311, sold for $437,500 on 12/16/16. This makes the asking price 8.8% less than the most recent closing in the eleven line.
Credit: Nuurs Ortiz
While the market is slowing, the sales in 50 Biscayne have remained rather strong. The average price PSF is $450 and there have been 37 sales in the last 12 months; this is up from 36 from the year prior.
Credit: Nuurs Ortiz
If you are interested in learning more information about this featured property, or the Brickell and Downtown Miami real estate market, please email me at andres@brickell.com.
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