The Condo Boom in Brickell Caused by Area’s Attractions
by Sep Niakan | September 08, 2014
The properties on Brickell Avenue are becoming scarce, and condo developers are moving west. What is causing the boom in Brickell, and how far will developers go before they stop attracting condo buyers?
Peter Zalewski is a consultant with the real estate market, a licensed real estate broker, and a columnist for a real estate journal. Zalewski provided his in-depth answer to this question.
The Brickell Avenue area is the biggest and most active market in South Florida for new condo developments.
The number of new condos that are coming to Brickell is almost 30% of over 35,000 units in all of Miami-Dade, Broward, and Palm Beach counties.
Already, there have been 32 new condo towers, totaling over 10,000 units, announced for the Brickell area. This number is out of 61 towers with over 18,000 units in Greater Downtown Miami.
A few factors feed into the boom of Brickell, including new retail space, restaurants, and nightlife at places like Mary Brickell Village. The billion dollar project, Brickell City Centre, is also contributing to the area, which has many condo buyers excited for the Brickell area.
In 2009, condo re-sales in Brickell sold at an average of $225 per square-foot. During the same time this year, the average jumped 87% to $421 per square-foot.
Photo credit: Brickell City Centre - brickellcitycentre.com
by Sep Niakan | January 12, 2017
According to thenextmiami, a petition involving a 15 by 75 feet alley has sparked speculations that a brand new hotel could be coming to Edgewater. Why? Simply because this alley comes attached to a 7,875 sq. ft. plot located at 348 Northeast 20...
by Sep Niakan | January 09, 2017
Ever tried driving from Brickell to Downtown Miami for lunch? Most Miamians dread the thought of catching the dreaded drawbridge, which opens every hour or half-hour during non-curfew hours to allow river traffic to pass under. So what’s...
by Sep Niakan | January 08, 2017
Last year’s headlines weren’t too kind to Miami with hurricanes, Zika warnings and falling sales painting a dark picture. However, with the elections finally done with, there are plenty of reasons to be optimistic about 2017: 1. ...
by Sep Niakan | December 28, 2016
We all know Wynwood as the friendly, hipster neighborhood splashed with the best street art in the world. It’s where we all go for our art fix, browse far-out finds and linger around for a couple of craft beers. But, how about shopping,...