Vaster Funded: Brickell Place Commercial Condo

Brickell Place Condos is a luxury condominium complex in the Brickell neighborhood located in of Miami, Florida. This 24-story complex was built in 1980. It consists of four different buildings for 1019 total units that range from studios to four bedrooms with sizes up to 3,090 square feet. The prices for units in this complex range from $200,000 to $3,00,000, depending on the size and features.

Investment Type: Commercial
Property Description: Commercial condo
Loan Amount: $390,000

Options and Enhancements

Even though Brickell Place Condos aren’t brand new, they still come with tons of amenities. You won’t have to worry about parking here since there’s valet and covered parking. You also don’t have to worry about security since there’s 24-hour security to give you peace of mind.

Brickell Place Condos are ideal for those looking for an active and healthy lifestyle. By living at Brickell Place Condos, you can cancel your gym membership for good. As a resident, you have access to six lighted tennis courts, multiple swimming pools with spas, and an exercise room. After your workouts, you can visit the on-site cafeteria for some fuel.

On the other hand, if you’re looking for a beachy lifestyle, you’re definitely in the right place as Brickell Place Condos has access to boat docks and the marina. Many of these condominium units also come with incredible bay and city views, giving you a perfect view of the sunset every morning.

Living the Life

Brickell Place is located in the heart of Miami’s financial district — making it the perfect place for those involved in the financial industry. Brickell is known for being a chic and cosmopolitan neighborhood located within Downtown Miami. In fact, it is nicknamed “Wall Street South” as it is the second-largest financial hub outside of New York.

Even if you’re not in finance, Brickell is a highly desirable place to live, thanks to new luxury condos, bars, and restaurants in the area. It also has incredible shopping thanks to Brickell City Centre. This four-story, outdoor, 500,000 square-foot “vertical shopping” experience has all the best shops, including an Apple Store, Saks Fifth Avenue, Coach, Lululemon, Rolex, Zara, and more.

Currently, there are 11 Brickell Place units for sale with prices that range from $200,000 for a studio to $3,000,000 for a three-bedroom, three-bathroom unit. A one-bedroom, one-bathroom unit costs about $340,000, and a two-bedroom, two-bathroom unit costs about $560,000.

On the other hand, if you’re looking to rent or rent out a unit, prices for one-bedroom, one-bathroom units go for around $2,500 a month, and prices for two-bedroom, two-bathroom units go for around $3,400 a month.

In the past 12 months, 62 units have been sold out of the total 1,019, which equates to 2% of the building. These units sold for an average of $565,216 with an average price per square foot of $623 after about 93 days on the market.

Finding the Funds

Vaster financed the purchase of a commercial condo unit within Brickell Place Condominiums. The client wanted to take advantage of an amazing investment opportunity, and since the market was hot, he wanted to compete with a cash offer. With Vaster’s help, the client was able to make a competitive cash offer of $390,000 for the unit.

The client was able to use debt in lieu of equity thanks to Vaster Capital’s flexibility and ability to close quickly. In fact, it only took 32 days to close on the condominium. This quick closing allowed the client to start using the unit as their office/headquarters. The client is also opting to rent out the unit to business partners. Located in Miami’s business and financial district, it’s definitely the perfect location for an office/headquarters.

The Capital Choice

Vaster financed the purchase of a Brickell Place condo for our client, and we can finance your real estate purchase too. As one of South Florida’s premier bridge lenders, we fund some of the largest real estate projects in the area, including 1212 Aventura, the Palm Beach Post Repositioning, and the Crystal.

However, we don’t just work with big and fancy investors to finance multi-million dollar projects. As you can see with this case, we also finance smaller purchases for individuals looking to make a smart real estate investment. So no matter the size of your project, whether you need $100,000 or $10,000,000, we are here to help you.

We offer bridge loans that allow you to close quickly on your transaction. Your ability to close quickly also allows you to submit a competitive offer that can help you beat out the competition in such a competitive South Florida real estate market.

Our bridge loans come with favorable interest rates that could end up saving you thousands of dollars in interest compared to the sky-high interest rates that come with hard money loans.

And even if you think you only qualify for a hard money loan due to a low credit score or a lack of financial history—think again. We have flexible qualification requirements and base approvals on the total picture rather than just checking boxes.

So whether you’re a foreign investor without an income tax return or are a new investor with a low credit score, whether you need a commercial loan or a residential home loan, Vaster Capital is willing and ready to help you make your real estate dreams come true.

Smart Buys

This is just one example of our many real estate projects in the South Florida area. So if you’re looking to take advantage of the booming South Florida real estate market that shows little sign of slowing down, then reach out to one of our financial experts today to learn more about our loan products and get personalized financial advice.

Sources:

Brickell Place I, II, III | Brickell.com

Brickell Place Condos | Diener Properties

Brickell - Waterfront Financial District of Downtown Miami | Miami Luxury Homes