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Ten Museum Park - Pricing & Availability
2007-06-09 00:17:45
I met with a sales rep today who works for Ten Museum Park to go over pricing and availability for a few out-of-state clients who are interested in buying a condo unit there. I took in a lot of good information during my 30 minute meeting and want to share it with everyone. Ten Museum Park has received its TCO (temporary certificate of occupancy) and closings for units on the first 35 floors will begin shortly. I learned that the developer will grant one extension to people scheduled to close. Then, a letter will be sent out notifying the contract holder of a firm closing date. They will be charged for each day that they are unable to close at an 18 percent APR. There are a lot of great deals currently available at Ten Museum Park. People holding contracts for condo units in the building were required to put down a total of 20% in deposit money. The first 10% was payable in January 2004. The second 10% was due in December 2004 when the building broke ground. Many of those pe
Read more: Pricing , Availability

Icon Brickell - 2 Bedroom+Den/2 Bath Becomes Available
2007-06-08 17:19:34
Word came to me today that an early contract holder at Icon Brickell has passed away and his contract is up for grabs. The contract has passed from his estate to the developer and The Related Group has it back on the market at the initial price offered when it was purchased in mid-2005. Icon Brickell sold out relatively fast in 2005 and availability is now limited to the condo-hotel units in the Viceroy tower. The Related Group is the most successful developer in Florida and has the reputation of selling out their buildings within the first week. They are known to price their units very well and to leave profit on the table for purchasers rather than squeeze every last penny out of a project. They price their units slightly below market, sell out and then move onto the next project. Great business plan, and it has worked quite well for them. The condo unit that just came back on the market is unit 2703, located in tower one of the Icon Brickell development. It is floor plan B,
Read more: Bedroom

Kevin Tomlinson - Project Glogger
2007-06-08 01:27:54
I just became aware that local boy, Kevin Tomlinson, is part of the Inman Bloggers Connect competition. I am rooting for him, and I hope that you all root for him as well. For those of you unfamiliar, Bloggers Connect is a pretty big deal amongst real estate bloggers. I’ve met Kevin Tomlinson and his blog is as real as it comes. I don’t think I’ve come across a blog that personifies the image of the blogger as well as Kevin Tomlinson’s. Many might be wondering why I’m endorsing a fellow blogger and Realtor. To me, I’m just endorsing a fellow innovator. The industry is heading in this direction and I’m happy that KT and I are pioneers. His thoughts, as well as my own, are not innovative thoughts, they are more just “street-level” thoughts of a real estate agent that offer transparency to this flustered real estate market. He provides fantastic insight into the South Beach real estate market while I provide unequivocal informa
Read more: Project

Mortgage Rates Continue to Head North
2007-06-07 19:42:40
Existing home inventories are up, foreclosure rates are rising and mortgage rates continue their ascent - talk about bad medicine for the current lackluster real estate market! CNN.com reports that 30-year fixed rates have jumped to 6.53%, their highest level in 10 months. While rates, a year ago, were slightly less than they are now, the state of the real estate market was in much better condition 12 months ago. An increase in rates now only amplifies the problems that exist. The Mortgage Bankers Association (MBA) expects 30-year rates to hit 7 percent by year’s end. The Mortgage Bankers Association (MBA) and the National Association of Realtor don’t foresee a recovery until the beginning of 2008. This foreseen recovery has been pushed back a number of times, and at one point early this year a slight increase in home prices for 2007 was predicted. In real estate markets, such as Miami, I expect this recovery timetable to continue to be pushed back until early 2009.
Read more: Rates , Continue , North , Mortgage Rates

Uptown Lofts Pre-Foreclosure - Under $275 Per Square Foot with Great Bay View!
2007-06-07 00:12:30
Today, I discovered a 3 bedroom pre-foreclosure at Uptown Lofts . Built in 2005, Uptown Lofts is a relatively new building. The building has a concierge, swimming pool, gated parking, club room, sauna and fitness center. It is located on the corner of Biscayne Boulevard and NE 23 Street, in the Arts District of Miami. Uptown Lofts has a total of 66 units. I went over and checked out the 3 bedroom pre-foreclosure an hour after I found out about it. I’ve seen other units at Uptown Lofts in the past, but I wasn’t aware that some of the Penthouse units have 20-foot ceilings. That is, until today. The 3 bedroom/2 bathroom pre-foreclosure has 1,950 square feet of living space, 20-foot ceilings, stainless steel appliances, a huge wrap-around balcony, spiral staircase, stackable washer/dryer and a fantastic view of Biscayne Bay. This spacious corner unit has exposures to the east and north. It is considered a 3 bedroom unit but only one of the bedrooms is closed off. Bec
Read more: Foreclosure , Square , Great

Feedback Forum
2007-06-05 23:48:28
I was pretty amazed by the amount of viewership and feedback received today concerning the various problems occurring at Neo Vertika. While I love receiving the emails, I would love for everyone to share their comments with each other in an open forum. Information is much better received when it is coming from multiple sources rather than one source interpreting the opinions of others. We all benefit from the voice you hold inside. Feel free to leave comments and provide your own unbiased opinions.
Read more: Feedback , Forum

Viceroy South Beach - South of Fifth Just Keeps Getting Better!
2007-06-05 01:38:44
Below you will find a picture slideshow and a video of the Viceroy South Beach sales center. The Viceroy South Beach is currently accepting reservations. This Saturday, June 9, 2007, is the sales launch party which will be held at the Viceroy South Beach sales center and La Piaggia. Prices will increase 5% for any contracts accepted after Saturday. I will have a full write-up with all of the details of this spectacular preconstruction project located in South of Fifth a little later. I just wanted to get the pictures and video up as soon as possible.


Neo Vertika - Living in a War Zone (pictures)
2007-06-05 00:51:39
If the building, Neo Vertika, were a stock, I’d be selling it short all day long! This is a follow-up to a previous entry that I wrote on May 21, 2007 entitled, “Shoddy Construction at Neo Vertika?“. Now, there is no question about it. When I wrote that piece, I had heard about all kinds of problems from residents including three major water leakages, the sprinkler system needing to be replaced in the entire building and each individual unit, and the air conditioning system being unusually loud. I didn’t realize just how bad it was until today. A client of mine, who is renting a Penthouse unit at Neo Vertika, sent me some pictures of the present condition of his condo unit. He began his lease at the very end of April and still has not been able to move his belongings into the unit. It goes without saying that he is looking to break his lease and get his money back. After seeing the following pictures I don’t blame him one bit. Work to replace the
Read more: Living

Coming Soon: Ten Museum Park
2007-06-03 00:28:39
Ten Museum Park is a highly anticipated luxury condo building that will begin closings later this month. Ten Museum Park is located in the recently-dubbed neighborhood of Park West and offers spectacular views of the city, Biscayne Bay and even the ocean and South Beach from high floors. Park West is making way to be the most high-end neighborhood of Miami. Ten Museum Park is walking distance to the American Airlines Arena, Entertainment District of Miami, the newly opened Carnival Center for the Performing Arts and the shops and restaurants at Bayside Marketplace. There are also plans for Bicentennial Park, which will be renamed Museum Park Miami, located across the street in the underutilized parcel of land that you see in the picture above. $13.5M has already been allocated for the new park and the Miami Art Museum and the Museum of Science are collaborating to work on the plans. The pictures below show a model of the design for Museum Park Miami. It will be the premier public
Read more: Coming Soon

Short-Sale @ Courvoisier Courts in Brickell Key
2007-06-02 21:44:49
There’s a 2 bedroom/2 bathroom short-sale opportunity at Courvoiser Courts located in the exclusive neighborhood of Brickell Key. The condo has 1,236 square feet of living space and a 95 square foot balcony. The condo, located on the 24th floor, faces northeast and has partial bay views from the balcony. It is the best priced 2 bedroom in the building at a list price of $450,000, or $364 per square foot. There’s a 2/2 currently available at Courvoisier Courts in the same line as the short-sale unit that is listed at $499,000. It is located 7 floors lower. There’s another available condo located 14 floors lower that is listed at $529,000. Courvoisier Courts was converted from apartments to condominiums at the beginning of 2006. The building was originally built in 1997. Courvoisier Courts offers fantastic amenities which includes: full-service concierge, 24-hour security, fully equipped business center, bi-level fitness center, racquetball/squash courts, bay
Read more: Short

Deutsche Bank Leading the Way in South Florida Foreclosures
2007-06-11 19:58:40
Daily Business Review published a very interesting article today entitled “Special Report: Condo Lending“. It provides a list of the top five banks who have filed the most foreclosure actions from January 1, 2007 to May 4, 2007 in South Florida . Below is that list: The most revealing part is that these banks have no reason to be overly concerned. In most cases, the loans were repackaged as mortgage-backed securities and sold to Wall Street investors. Public records may reveal the banks as the possessor of these loans, because their names are still associated with the notes, but it is the investors who will bear the monetary loss due to the risky underwriting practices of these banks. In fact, the banks actually make additional money by charging fees to the investors by acting as custodians in managing the foreclosure proceedings for them. Helluva a gig! They’re making money on the front-end and back-end!
Read more: Deutsche , Leading , Foreclosures , South Florida

An Analytical Analysis of Analyzing Condominiums
2007-06-15 01:13:23
People often ask me why I chose to focus on condominiums rather than single family homes when I began my career in real estate. I guess the answer is mainly attributable to my formal education and the work experience I gained after graduating college. As mentioned in the About Me section of this site, I graduated from the University of Illinois at Champaign-Urbana with a Bachelor of Science Degree in Finance with a specialization in Investments. After graduation, I worked as an equity options trader on the floor of the Chicago Board of Options Exchange for four years. It became second nature for me to begin to analogize most aspects of my life in investment terms. Condominiums to me had similar homogeneous characteristics as that of a financial security than single family homes. In my opinion, it is much easier to analyze the true market value of a condominium than it is for a single family home. A price per square foot analysis of condo units in a building, and even a neighborho
Read more: Analytical , Analysis , Analyzing

Foreclosure Listings at Vue at Brickell Doubles in Three Weeks
2007-06-14 21:29:24
On May 24, 2007 I posted an entry entitled, “Vue at Brickell - Overpriced or Insanely Overpriced?“, in which I questioned the average price per square foot of the condo units at a building called Vue at Brickell. I surmised that mortgage fraud may have been partly at fault for prices at Vue at Brickell reaching such irrational levels. At that time there were three listed foreclosure units in the building. Now, there are a total of six. In three weeks the number of the listed units that are currently in the foreclosure process have doubled. Those are just the ones that are listed. I’m sure there are others. Below you will see those six listings, as well as relevant property information. (FL#=floor number, #BEDS=number of bedrooms, #FB=number of full baths, #HB=number of half baths, LA=living area square footage, LP$=list price, LP$/SqFt=average price per square foot, #GAR=number of parking spaces, WTRFR=waterfront?) I find it humorous that two of the listings c
Read more: Foreclosure , Doubles , Three , Weeks , Three Weeks

Cosmopolitan 2 Bedroom Foreclosure Now Under Contract
2007-06-13 21:10:26
As many of you know, there’s a 2 bedroom condo foreclosure at The Cosmopolitan in South Beach that I’ve been tracking since the middle of May. I wrote about it and posted pictures of the unit on May 22, 2007 and wrote a follow-up post on June 1, 2007 to let everyone know of a price reduction. About a week later I went with a client to take a look at the place in person. I shot a bunch of pictures which you can view in the picture slideshow below: I’m happy to announce that the unit is now under contract. I won’t reveal the price until it becomes public information, but let’s just say that my client got a very good deal!!! For more details regarding this 2 bedroom foreclosure at The Cosmopolitan in South Beach do a search for “The Cosmopolitan” in the search box to the right to view the other posts covering this condo foreclosure unit.
Read more: Foreclosure , Bedroom

Site Updates - Real Estate Videos Section Added
2007-06-13 01:23:29
You may have noticed that the site has undergone some cosmetic changes in the past couple of days. I would like to make everyone aware of a few other changes that may not be so apparent. The most significant change that I have made is the addition of the “Real Estate Videos” link to the header of the homepage. As you might guess, the link directs you to a page which displays various real estate videos, with the most recently posted video displayed first. These videos are searchable in a few different ways. The best way to search for a video is using the catalog pull-down menu along the right-hand side of the page. There you can search for property videos by zip code, neighborhood, and type of property (condo, single family, etc). The ability to search by number of bedrooms, price and more shall be added in the coming days. This type of search is made possible through the use of tags. I will utilize tags to make searching as efficient and effortless as possible. Th
Read more: Section , Site Updates , Real Estate

Cynergi Buyer Wants Out
2007-06-12 05:02:24
A guy named Evan left a comment on this blog and dropped me an email over the weekend. He bought a 1 bedroom/1 bath (D floor plan) with 962 square feet of interior space and a 204 square foot balcony on the eighth floor at Cynergi. He went into contract on his unit in June of 2005 and is looking to find a buyer to take over his contract. The price that he locked into was $380,000 but he is willing to accept $360,000 to get out. The following are the prices that the sales agent working for the Cynergi developer quoted him in March 2007 for other D units in the building: 2nd floor - $425,000 3rd floor - $430,000 6th floor - $450,000 7th floor - $460,000 8th floor - $470,000 My reaction was holy crap! Those are unrealistic prices! I dug through some of the old price lists that I still have for Cynergi to see what those units were listed for a year or two ago. I used to get regular pricing updates emailed to me by a few of the sales agents who worked for Cynergi. I found a price
Read more: Buyer

Buying a Foreclosure Doesn’t Have to Be Difficult or Risky
2007-06-17 21:10:08
A client of mine closed on a foreclosure unit this past Friday. It was the smoothest transaction that I’ve ever had. I wish all of my deals were like that one. Many people believe that buying a foreclosure can be risky. When a bank lists a recently foreclosed property with a traditional real estate agent, this just isn’t true. In most cases, the bank will clear any problems with the title and an inspection period is afforded to the buyer. My client was given 7 days to inspect the property that he had under contract which was more than enough time. We had a property inspector in the unit within two days after having a fully executed contract. A foreclosure that is purchased on the steps of the county courthouse, however, is just the opposite. In many cases the title can be clouded and the buyer is not allowed to conduct a full inspection. My client’s appraisal came in 30% higher than what he paid. As a result he didn’t have any problems obtaining financi
Read more: Buying , Foreclosure

Villa Magna Project Still a Possibility
2007-06-21 01:30:26
Reports surfaced a few weeks ago that the Brickell luxury condominium project known as Villa Magna was canceled. Miami Today News reported earlier today that the project may move forward but with a significant change in the development plan. Villa Magna developer, Tibor Hollo, wants to replace 178,506 square feet of condominiums with hotel suites. The 2.5 acre development site of the $200 million project known as Villa Magna is located at 1201 Brickell Bay Drive. It is the last bayfront parcel in Brickell. The previous plan called for 1,120 total condominium units. The article mentions that local hospitality experts feel that competing with nearby luxury hotel brands such as the Mandarin Oriental and the Four Seasons Hotel would be a bad move by Mr. Hollo. It will be interesting to see what becomes of this valuable parcel of land in the coming months. I will keep you posted as new information becomes available.
Read more: Project

Miami Condo Index - Brickell - June 2007
2007-06-19 17:32:38
Last week I mentioned that I was planning to create a Miami Condo Index to provide pricing insight to homebuyers in various neighborhoods in Miami and Miami Beach. This week I decided to kick things off with Brickell . It was difficult to come up with a final list of buildings that should be included in the Brickell index. For example, is Neo Vertika in Brickell or should it be in a different category like West Brickell? Is One Miami part of downtown or should it be grouped with Brickell buildings? After much thought, I decided to include both. There simply aren’t enough buildings of interest in West Brickell or downtown to necessitate a separate neighborhood index for West Brickell and downtown. Eventually, One Miami will be grouped with downtown buildings as more developments are completed north of the Miami River. Another question remained as to whether buildings in Brickell Key should be grouped with buildings in Brickell to create a Brickell/Brickell Key index or sho


Luxury Homebuyer Trends
2007-06-19 17:22:38
REAL Trends , Inc. recently reported the results of The 2007 Membership Survey of Luxury Housing Market Trends. I found the results to be quite interesting. The largest percentage of luxury homebuyers falls into the 40-50 age group (48%) followed closely by the 50-65 age group (44%). The most common occupation of luxury homebuyers is that of an entrepreneur (51%), followed by large business executive (46%) or medical doctor (24%). The number one service affluent homebuyers are interested in receiving from their luxury home specialist is help in finding a home (86%) followed by help in managing the transaction (56%) and expert counsel during a negotiation (43%). The typical luxury homebuyer makes a large cash investment in his or her home purchase amounting to more than a third of the overall purchase price. In many metro markets this would exceed a quarter of a million dollars. This compares to the median amount financed by all buyers in 2006 of 91 percent of the purchase price. The


Flashback to 1983
2007-06-19 12:42:28
Yesterday I was given the link to an interesting news article that was published in The New York Times on March 21, 1983 entitled, “Auctioneer’s Gavel Finally Moves Luxury Condominiums in Miami“. You can find that story below or by clicking the link above: Three hundred people spent a sunny afternoon today in the shade of a big white tent listening to the patter of an auctioneer hawking luxury condominiums, many of which were sold at discounts of 30 to 45 cents on the dollar. As the market for luxury condominiums remains soft, more developers are taking this route to dispose of their inventory to cut their losses. About 60 units were sold for $125,000 to $190,000 in the first day of a four-day auction at Biscayne Cove, a luxury high-rise complex overlooking blue waters, nestled among other luxury dwellings in North Miami Beach. “We decided to auction off and give the people a bargain,” said Morton Littlemen, a representative of the developers. &ldqu


Miami Condo Index - Brickell Key - June 2007
2007-06-28 01:29:22
This week I decided to compile a condo index for Brickell Key. The data wasn’t quite as shocking as the condo index for Brickell but it did provide a few surprises. Overall, condo units in Brickell Key are listed at an average price per square foot of $519.97, or $16.31 per square foot less than condos in Brickell. The average price per square foot is $513.19 for listed units when using a weighted average. The latter is a bit lower due to a higher percentage of the units in Brickell Key residing in older buildings that have a lower price per square foot. The average price per square foot for condos sold in the past six months in Brickell Key is $433.66, or $430.09 when weight adjusted. This is $33.07 per square foot less than condo units sold in Brickell over the last six months, or $59.73 per square foot less when comparing their weight-adjusted averages. These figures in themselves are a bit shocking because most would think that units sold in Brickell Key would bring hi
Read more: Miami , Condo , Index

2 Bedroom @ Midtown 2 for $299,000
2007-07-02 13:51:05
About 40 minutes ago a 2 bedroom/2 bathroom unit at Midtown 2 came on the market for $299,000, or $301 per square foot. The unit has a 992 square feet of interior space and 1,417 total square feet when including the large wraparound balcony. The unit comes with stainless steel Jenn-Air appliances, custom Italian cabinetry, granite countertops, washer/dryer and an assigned covered parking space. Amenities at Midtown 2 include: free valet, swimming pool, hot tub, 24-hour security/concierge, fitness center and sauna. The next best priced 2 bedroom at Midtown 2 is listed at $399,000, or $353 per square foot. Yesterday I posted an entry about Midtown 2 and opined that prices at Midtown 2 would eventually move down towards the $280-$360 per square foot range. I just didn’t think it would happen this fast. The selling point of the Midtown project has always been the Shops at Midtown Miami. It brings an urban lifestyle to Miami that had been missing. In Miami you need a car to
Read more: Bedroom

To Close or Not to Close? - Tough Decision Ahead for Preconstruction Contract Holders as Closing Dates Approach
2007-07-01 17:59:01
Closing dates are quickly approaching for preconstruction condo holders in several big name developments. Closings continue at Midtown 2 while closings at Latitude on the River and Ten Museum Park began a few weeks ago.  Closings at Opera Tower and Onyx on the Bay should begin later this month. I’m sure a good number of these contract holders have asked themselves whether or not they should close. Most have probably even crunched some numbers to figure out what they should do. With deposit money equal to 20 percent of the total purchase price at stake, it is a very important decision. The question on everyone’s mind is what percentage of these condo units are owned by investors versus those who intend to occupy the unit. An even better question though is of the investor-owned units, what percentage are owned by people who were looking to flip their unit prior to closing versus those intending to hold long term. Those who were looking to flip their condo prior to closin
Read more: Close , Tough , Preconstruction

Fantastic Deal in Brickell Key at Brickell Key One
2007-07-01 13:38:13
Yesterday I came across a fantastic condo deal in Brickell Key in the building known as Brickell Key One. At $318 per square foot it offers the best price per square foot of all currently listed condo units on the entire island of Brickell Key. The next best price per square foot in all of Brickell Key is listed at $355 per square foot. There are a total of four other units that have a list price that is under $400 per square foot in all of Brickell Key. According to my June Miami Condo Index for Brickell Key it was shown that condo units on the island are listed at an average price per square foot of $519.97, or $513.19 when using a weighted-average. Condo units sold at an average price per square foot of $433.66, or $430.09 when weight-adjusted. Units listed at Brickell Key One were listed at an average price per square foot of $393.04 and sold at an average price per square foot of $372.15. Built in 1982, Brickell Key One is the oldest building on Brickell Key and also offers
Read more: Fantastic

MLS Listings Continue to Grow at Midtown 2
2007-07-01 02:22:46
Midtown 2 began closings for condo units around the middle of May 2007. Since that time, there has been an average of 1 to 2 newly listed condo units per day that have appeared on the MLS. I get notified with an email to my Blackberry whenever a new listing appears in the MLS in any of the newly constructed condo buildings so that I become one of the first to know when a great deal becomes available. In the past two weeks listing activity has really picked up at Midtown 2. The good news is that a good number of people are actually closing on their units. The bad news is that these people are still looking to flip their condos. There’s also a good amount of units listed for rent at Midtown 2. That number will grow as more condo owners finish installing their floors, window treatments, light fixtures, etc. since the units come decorator-ready. Once that occurs, then most will likely place their condos on the market for sale or rent. Prices at Midtown 2 have come down some i
Read more: Continue

Peninsula II - Opportunity to Own Luxury Condo in Aventura at a Great Price
2007-07-05 18:51:54
I received an email today from a gentleman whose father went into contract on a large 4 bedroom + media room/4.5 bath condo at Peninsula II in August of 2005. The unit has 3,530 square feet of interior space and three terraces totaling another 374 square feet for a grand total of 3,904 square feet. Terrace one has 183 square feet, terrace two has 100 square feet and terrace three has 91 square feet. This flow-through unit at Peninsula II is located on the 25th floor and has direct views of the Atlantic Ocean, Biscayne Bay and the intracoastal waters. Take a look at the spectacular floor plan below: His father has the condo at Peninsula II under contract for $1,265,000, or $358 per square foot, and he does not want to close. He was required to deposit 20 percent, so he has a total of $253,000 at stake. He is very motivated to sell and is willing to lose a portion of his deposit. Closings are scheduled to begin at Peninsula II in about a month. At this time the developer has two 0
Read more: Opportunity , Luxury , Condo , Great

Ten Museum Park - Pricing & Availability Update with Pictures & Video
2007-07-04 17:18:25
I revisited Ten Museum Park yesterday with another client. I was able to take a few pictures and shoot a short video but our time was very limited. You can find a picture slideshow at the end of this post along with a short video clip of a unit at Ten Museum Park. I discovered that there have been a total of seven closings so far at Ten Museum Park. I also received an update on which of the units left to close are problematic cases. They are considered problematic because the contract holder either keeps delaying their closing date and/or they have voiced a strong desire not to close. These represent opportunities as they afford the best pricing currently available at Ten Museum Park. Keep in mind that the prices below only represent the list price. They are not firm prices. Contract holders who are truly motivated or those looking to possibly walk from their deposit may be willing to take a significant loss. They were required to deposit 20 percent of the purchase price into
Read more: Pricing , Availability , Update , Pictures

Quantum on the Bay - 2 Bedroom + Den/2.5 Bath
2007-07-10 00:07:59
I was contacted last Friday by a lady who is looking to sell her 2 bedroom + den/2.5 bath in the north tower of the development known as Quantum on the Bay. She got in at original pricing and is looking to sell her unit prior to closing. The condo unit that she has under contract is the L floor plan which, in my opinion, is the best floor plan in the entire north tower. It offers unobstructed views of Biscayne Bay and overlooks the swimming pool. It is a large corner unit with 1,460 square feet of interior space and a 237 square foot wrap-around terrace. The Quantum on the Bay website is a bit confusing when you view the floor plans. For some reason it decided to have the building site plan point east rather than north. Biscayne Bay would be located where the word “residence” is in the picture below. The purchase price of the unit in question was $512,000, or $351 per square foot. She is looking to sell it for $575,000, or $394 per square foot, and do a simultane
Read more: Bedroom

Latitude on the River
2007-07-09 20:36:19
The picture above shows Latitude on the River and Latitude One. Latitude on the River is a residential condominium building comprised of 427 units on 44 floors while Latitude One is a a condo office building made up of 217,000 square feet spread across 22 floors. Latitude on the River is located along the Miami River directly west of Neo Vertika at 615 SW 2 Avenue. Many local Miamians have expressed an interest to me in acquiring a condo at Latitude on the River because the pricing is attractive and because the neighborhood has come a long way since sales initially began. It is difficult not to take notice of Latitude on the River while driving down the southern end of I-95 as it towers over all surrounding buildings. It reminds me of an NFL lineman with broad shoulders and a thick upper body. There are a total of five listings in the MLS right now, two of which are from the developer. The other three listings appeared 2-3 weeks ago signaling that closings had begun, but it h
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