MiamiFlorida.com

I just updated the following; “Jade Residences Market Analysis Report” 

Noticed that from the 71 condos active for sale, 36 are foreclosures and 35 are regular listings.

From the 71 condos active for sale, the average foreclosure listing has been discounted 42.7% vs a 27.4% discount for the average regular listing (listings not in foreclosure).

You would guess that Buyers are snapping foreclosures first because of the attractive discounts. Well guess again! From the 14 condos that have sold so far in 2008, only 6 have been condos in foreclosure. The remaining 8 have been regular sales. In fact the 3 most recent recorded sales have been regular sales.

As far as the Jade Residences is concerned, so far in 2008 we are seen somewhat of a balance in the number of condo sales between those in foreclosure and those not in foreclosure.

If you have any questions or comments, please send me an e-mail to: michael.schnabel@mac.com or call me at 305.450.0036

The Santa Maria on Brickell located on 1643 Brickell Ave., with 174 units, recently recorded the sale of one of its ultra-luxury units.

Unit #2403 sold on May 27th, 2008 for $1,365,000.00 or $626/SqFt. This unit is an original 2 bedroom 2.5 bathroom upgraded to a 3 bedroom 3 bathroom with 2,180 SqFt of living area.

The Schnabel Team from EWM Realtors acted as a transaction broker for both the Seller and the Buyer.

Unit #2403 was listed for sale 3 1/2 months ago for $1,495,000.00 and is one of only six units that have sold during the past 9 months as of the date of this post.

If you have any questions or comments, please send me an e-mail to: michael.schnabel@mac.com or call me at 305.450.0036

The Asia in Brickell Key and the Jade in Brickell share the top spot for the highest priced condos for sale in the Brickell Area as of Sunday April 6th, 2008

The Asia PH#3204 offers 5,405 Sq Ft for $822/Sq Ft. It has 4 bedrooms, 5 bathrooms 1 half bathroom and 2,496 Sq Ft of terrace space.

The Jade PH#4601 offers 6,487 Sq Ft for $640/Sq Ft. It has 6 bedroom, 7 bathrooms and 2 half bathrooms and 3,648 Sq Ft of terrace space.

Although both buildings are in relatively close proximity, Brickell Key traditionally has commanded a premium over the rest of Brickell. Reason why the Jade, with 20% more Sq Ft, more rooms and bathrooms and at a similar price is really 16% less than the Asia on a price per Sq Ft basis.

If you have any questions or comments, please send me an e-mail to: michael.schnabel@mac.com or call me at 305.450.0036

The lowest priced highest floor Condo in the Santa Maria building is selling for $1,495,000 or $686/SqFt. This 2/2/1 recently converted to 3/2/2 offers 2,180 Sqft (202.5 SqMtrs) of living area with an additional 439 SqFt or 40.1 SqMtrs of terraces facing Biscayne Bay.

Read my complete market analysis report at: The Santa Maria market analysis report as of 3rd April 2008

If you have any questions or comments, please send me an e-mail to: michael.schnabel@mac.com or call me at 305.450.0036

The following information is as of Friday 21st March 2008:

The Santa Maria has 174 units in a building with 51 floors.

For 2008 we have:
19 units (10.9%) for sale at an average price of $710 SqFt. The average price reduction for all 19 units is 2.4% and it is calculated from the original listing price.

1 unit has been sold so far in 2008 at a price of $665 SqFt. The price was reduced 12.8% from the original listing price.

3 units are pending sales at an average price of $696 SqFt (final price should be lower). The average price reduction for all 3 units is 10.6% and it is calculated from the original listing price.

For 2007 we had:
11 units sold at an average price per Sq Ft of $631 The average price reduction for all 11 units was 9.0% and it was calculated from the original listing price.

Read my complete market analysis report at:      “The Santa Maria on Brickell Market Analysis Report as of 31 March 2008″

If you have any questions please send me an e-mail to: michael.schnabel@mac.com or call me at 305.450.0036