Downtown Miami Condos

 

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Downtown Miami condos, The Marquis, Ten Museum, 900 Biscayne, Marina Blue, Vizcayne Towers, 50 Biscayne, Met One, One Miami, Epic, The Loft Downtown II, and The Loft Downtown are selling strong.

Coming soon to the area, Miami Worldcenter occupying 10 blocks of retail, residences, convention center, and hotel, extending west of NE 2nd Avenue and Miami Avenue from NE 11th Street through NE 6th Street.  Paramount Miami Worldcenter Residence Tower will consist of Luxury Residences selling at an average of $ 650 per square feet. Units ranging from 1,491 sqft (138 meters), to 2,611 sqft (243m).

Another project that everyone is anxiously waiting to see is One Thousand Museum. This ultra luxurious residential tower will consist of 83 residences between 4,500 sqft to 9,910 sqft with direct bay views as well as city views from all residences. Starting price $ 5,000,000.00, this will be a gem in the sky! Only building with its own heliport, top of the line finishes, and services.

This is all part of the area’s growth. Developments such as The Marquis, 900 Biscayne, Marina Blue and Ten Museum will benefit greatly from these new projects, as well as all the properties in the immediate area.

Units currently with direct bay views are a great investment. Buildings such as The Marquis and 900 Biscayne are selling for an average of $550-600 per sqft. Not bad compared to many other major cities such as New York, Los Angeles, Chicago, and San Francisco. Miami is attractive due to low taxes and for permanent residency one can take advantage of the Florida incentive such as the Homestead Exemption which gives you a tax break on your property taxes.

Miami Real Estate is still affordable, residences with direct waterviews can be purchased for less than $ 1,000,000. These are developments built within the last few years and even pre-construction projects are at an average of $ 650 per sqft.

One difference between resales and pre-construction is in the financing. Many resale purchases are available with financing, mortgages with 25% down are the norm in the area. There is no financing options with pre-construction this means the transaction is all cash. The benefit is that the payments are structured in installments, for instance, 10% at reservation, 10% at contract, 20% at ground breaking etc. Many home buyers prefer it this way so their cash is not held up for two years.

The Downtown Miami rental market is booming as well, with rental pricing up 20% from previous years. All developments are now fully occupied and the units that are available for rent get snatched up quickly. Part of the reason being that many professionals are now being relocated to the area and prefer to live near work than commute for and hour or so in traffic.

With easy access to the Metromover and metrorail, now connected to the Miami International Airport, which makes the area more enticing. Walk or ride the metro to the Adrienne Arsht Center, The American Airlines Arena “home of the Miami Heat”, Bayside Market Place, Miami Dade College, and much more, many are making the transition to city living.

The new PAMM Perez Art Museum Miami is now open to the public, The new Patricia and Phillip Frost Museum of Science will soon take center stage attracting visitors from all over the world. Downtown Miami is no longer what it use to be, it’s a new vibrant area being developed and will be one of the most visited and sought after destination in the City of Miami.

Buy now don’t hesitate and miss your chance to own in this wonderful and growing city, Miami. Everyone wants a piece of the pie, make it yours now!

Call me for more information 305-951-3588 or via email zpc@zmiamiproperties.com, I can find you a great deal in the area that is most sought after, Downtown Miami.

 

 

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