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Thread: Was This Brickell Condo a Steal or Was it "Under Priced" for a reason?

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    Default Was This Brickell Condo a Steal or Was it "Under Priced" for a reason?

    http://www.trulia.com/homes/Florida/...-33131#photo-4

    Saw this on Trulia. Two Bedroom and Two Bathroom condo at 1200 Brickell Bay Drive. Sold for $385,000 in June 2016. Size: 1,105 square feet in a building built in 2005. Unit was on a high floor with good views of Biscayne Bay.

    I am shocked something can go this cheap. Yeah, I know Miami is not NYC, S.F. or even LA but this just seems really cheap? I assume the HOA is very high and/or could be something wrong with the building?

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    Senior Member Marc Middleton's Avatar
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    Default Re: Was This Brickell Condo a Steal or Was it "Under Priced" for a reason?

    Quote Originally Posted by SoCal View Post
    http://www.trulia.com/homes/Florida/...-33131#photo-4

    Saw this on Trulia. Two Bedroom and Two Bathroom condo at 1200 Brickell Bay Drive. Sold for $385,000 in June 2016. Size: 1,105 square feet in a building built in 2005. Unit was on a high floor with good views of Biscayne Bay.

    I am shocked something can go this cheap. Yeah, I know Miami is not NYC, S.F. or even LA but this just seems really cheap? I assume the HOA is very high and/or could be something wrong with the building?
    Nothing wrong with the building, the HOAs aren't bad for all the nice amenities (about $600/mo which is less than 75 cents/foot = good for a full service building; also it includes your water/sewer/trash/cable which is about $200-$250/mo if you had a house), great location etc.

    There are 3-4 other 2/2s in the $387-$399 range in that building. Heck, there is even a 3 bed for $350k but its an unapproved short sale so the bank might want more than the asking price.
    Jess and Martin F like this.

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    Default Re: Was This Brickell Condo a Steal or Was it "Under Priced" for a reason?

    ^Thanks Marc. Wow, that is cheap. I am ready to move tomorrow! HaHa.

    Agreed, that is a very reasonable HOA.

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