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Monthly Archives: January 2013

Tenants need to reach out to their wallets !

CaptureThe rental market is flourishing in Miami, especially in the Brickell and Downtown area. Lately you must have noticed that vacant units are rented very quickly and prices per sqft are increasing. Indeed, usually rental listings are gone within one week. In Downtown, residential rentals rates per sqft increased 10% in 9 months whereas in Brickell the prices increase goes up 12%. The Downtown development Authority states that more than 95% of rental units are occupied in the greater downtown Miami.

This strong demand is simply due to the fact that Downtown attractiveness is growing. Personally I remember never crossing the bridge to go out at night. Now, with new restaurants and all kind of entertainments the area is now urbanized and attracts dynamic professionals. Read the rest of this entry »

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Posted by on January 17, 2013 in News

 

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Midtown Miami: the new Soho!

4 MidtownSam Tawik, a well-known New York developer, just invested $12 million in the area of Midtown Miami. Indeed he bought 27 apartments in the fabulous condominium 4 Midtown (see picture). If he is investing such an amount there, he must be pretty sure that Midtown Miami will become soon the new Soho.

In the early 60’s artists bought lofts there for at most $50,000 and these properties are now worth $3 million. Tawik values the short term appreciation in Midtown and thinks that the prices of the area will follow the Soho trend. Tawik’s strategy is simple: he is buying units which have highest end user demand and which appreciate in value the quickest. No wonder why he can hope a 35% of return on his investment within 3 years! Read the rest of this entry »

 
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Posted by on January 8, 2013 in News

 

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