There are five buildings in the Brickell area that have become great buying opportunities for the serious investor. These include the Club at Brickell Bay, Mark on Brickell, Skyline on Brickell, Solaris and the Vue at Brickell. These buildings are struggling, they have a very large percentage of their units for sale (see chart below). They have many short sale offerings which will become bank owned foreclosures and they are probably not collecting all the maintenance fees which are due monthly. These buildings are very risky!
If you are an investor, with cash and a long time horizon for holding, now is the time to start buying. The banks are selling at record low prices and they will have more and more inventory as the short sales foreclose.
This tables shows just five buildings. To visit our pages for each building just click on the building name.
| Building Name | Total Units |
Units For Sale |
Percent | Short Sales |
Closed Sales |
Avg Sold $ per SqFt |
|---|---|---|---|---|---|---|
| Solaris | 138 | 33 | 24% | 14 | Zero | TBD |
| Vue at Brickell | 342 | 81 | 23% | 42 | 19 | $185.00 |
| Club at Brickell Bay | 643 | 109 | 17% | 51 | 27 | $221.00 |
| Mark on Brickell | 361 | 55 | 15% | 20 | 7 | $295.00 |
| Skyline on Brickell | 360 | 49 | 14% | 15 | 8 | $307.00 |
As you can see from the chart below the months of inventory has been dropping for the last several month in these buildings. This is because investors have been buying.
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Brickell Condos Months of Inventory
