"Approximately 70% of the units have never been occupied so buyers get the advantage of an untouched building with well-appointed residences at pre-construction prices," says Louis Birdman, SunVest principal. "Rather than wait for another Brickell-area condo that will take years in the construction process, buyers can move in the Vue at Brickell now and finance at today's low interest rates."
Condo prices in the 36-story, 323-unit tower range from the low $200,000s to $700,000s for a selection of 15 different one-, two-, three-bedroom and penthouse layouts in sizes from 737 sf to 1,551 sf. Most have 9-foot ceilings, and some rise to 11 and 14 feet. All have tile flooring in kitchens and baths and full-size washers and dryers. SunVest estimates sellout at $120 million. Andres Asion of Cervera Real Estate is director of sales.
Vue at Brickell amenities include a sundeck and rooftop pool, fitness center with massage service, business center, billiards area, 24-hour valet and concierge services. The property is located on 1.2 acres and contains 16,000 sf of retail. The new owner looks to rent to restaurateurs, beauty salons, gourmet markets and high-end shops.
Wachovia Securities North Carolina provided $80 million in financing for the acquisition and Wachovia's Dan Martinson facilitated the loan. The seller, Coral Way LLC, is an affiliate of Charlotte, NC-based Summit Properties, which developed the building in partnership with locally based BAP Development. The latter is a subsidiary of the building's architectural firm, Bermello Ajamil & Partners, also based here.
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