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Land plot with approved project in West Brickell

Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
Land plot with approved project in West Brickell
$9 700 000
Type:: Cottage
Status:: In development
Country: United States
City: Miami
Address: 1621 SW 2nd Avenue, Miami, FL 33129

Short description

The plot has a strategic location – several blocks from Brickell City Center, SLS Hotel, and Echo Brickell – which makes this offering unique.

Full description

The plot’s strategic location – several blocks from Brickell City Center, SLS Hotel, and Echo Brickell – makes this offering unique, as there are no other land plots left available for construction in Brickell Area.

  • Land plot area: 0.45 acres
  • Zone: T6-8-0
  • Number of apartments: 60
  • Number of floors: 9
  • Apartment sizes: 83 to 148 sq. m. (893 to 1593 sq. ft.)
  • Number of parking spots: 99
  • Designation purpose: residential construction
  • Total construction area: 64,583 sq. ft.
  • Land plot area: 0.45 acre
  • Location: Redline 2nd Ave
  • The number of the block: 29
  • The number of the land plot: 11

Financial information

Asking price: $9,700,000

The project and approvals are included in the price. The facility is ready to be constructed.

Market analysis

Paradise-like climate and living – it’s here. Miami, the most desired city of the southern state of Florida, is a leader in all possible appeal ratings for foreign investments in real estate. After the U.S. financial crisis in 2008, local real estate market recovered the fastest, and it has been growing in terms of house and apartment prices since then.

More than half of foreigners buy accommodation here with further plans to stay. A lot of them believe that real estate in Florida is a secure investment that protects their capital.

The market is very attractive for investors for several reasons. First, it has one of the lowest mortgage rates in the United States. The state of Florida also charges no income tax, and Miami itself is the third most popular American city, which guarantees stable rent income for real estate owners.

Investors from CIS countries are one of the leading groups among real estate buyers in Miami. Local Russian-speaking community is very large, making business or moving to the city less problematic than to other states.