Tuesday, February 2, 2010

Luxury Property Drops Prices 51%

Everyone wants to know what the deals are for South Florida, well, let me tell you, ICON Brickell, one of the most recent Downtown Miami projects has taken a major hit; they are simply tired of empty condos - this luxury space has 1793 condos in three towers and they have finally adjusted their pricing, at least in one of the towers (Tower Two): prices are down 51%! That is a huge drop from the original intent of the developer, Jorge Perez. The new offerings are strictly for cash deals only - yes, prices are slashed 50% but you must come with cash on your mind. ICON is located at the entrance to the hubbub of the Brickell area known as Miami's financial district.

I have visited ICON's Tower One, at least 3-times in the past 15-months, this is a luxury property, designed by Phillipe Stark, now offering "affordable" pricing (okay, I admit, that is certainly a relative term). According to CondoVultures (Miami Herald, 02/02/10) prices have been slashed to a low of $261 a square foot. Now that's doable, of course, if you get the right view.

The ICON complex has 3-towers including the Viceroy Hotel, a fabulous spa, the largest lap pool (300') and largest jacuzzi in the entire state of Florida, fantastic restaurants - okay, what more could one ask for? This is THE place to live if you want to be in the know.

Today I made another trip to ICONBRICKELL as they open Tower II; all in the name of love - as your "urban lifestyle specialist" I love keeping my clients abreast of what's happening in the Miami market. On a side note, downtown Miami over the last 7 years has added at least 22,000 condo units - there are many opportunities here and I am looking forward to helping you find the right spot in the sun.

No comments: