Across from beautiful Biscayne Bay, in the heart of downtown Miami, a magnificent building called MarinaBlue is located at the center of the growing Miami cultural and arts scene. The 60-story tower is located at 888 Biscayne Boulevard and has lofts, 1,2, 3, and a few 4 bedrooms residences that allow owners very flexible rental options. The tower has enjoyed significant increases in prices over the past several months. MarinaBlue is not only a great building, but is a much sought after investment option for Landlords looking to maximize their rental returns and options. A brief survey of closed sales from the Miami Realtor Association reveals home prices continue to improve.
Each “line” of the building offers water views of Biscayne Bay and many have city views of the downtown Miami skyline. Based on recent sales the “01” line has recently been selling near $444 per square foot. The “08” line the center corner and most sought after line in the building recently had sales near $535 per square foot. The “12” line offers spectacular bay and sunset views recently has been selling around $382 per square foot.
The building offers a private beach club 14 stories above Biscayne Boulevard, overlooking Miami and the bay. Beautiful pools, sand volleyball court, cabanas, an indoor-outdoor party lounge, gym and yoga studios are there for the select residents of the building.
Not every apartment’s value can be defined by a square foot price alone and it is important to understand the multitude of variables that can impact an apartment’s value.
Currently, in the month of April, 2014 there are thirty-seven apartments for purchase from $5,900,000 to $375,000, easily offering a floor level and view to match any investor’s criteria.
These sales do not reflect distressed sales in Marinablue by either a Bank REO or a bank approved short sale. Those statistics are available by contacting me directly.
Now is certainly a great time to sell an apartment in MarinaBlue as prices continue to improve and lenders offer low rate mortgages for the near future.
If you would like additional information regarding your home’s value in or around the Biscayne corridor market click the Free Home Value Button.
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