Sydney Server Real Estate Blog

Brickell Condos Boast Kid-Friendly Amenities

October 21st, 2013

Brickell Miami is flourishing with at least 39 new condo developments, a wave of restaurant, and billion dollar projects such as the Brickell CityCentre. The target demographic for residential condos include families with children, according to The Real Deal and for developing projects like Echo Brickell and 1010 Brickell.

Many high-end condo projects target international investors and middle to upper class income brackets, however a representative of 1010 Brickell’s sales team stated that these developments aim to take a different approach. Their demographic includes working couples with children, where condos will feature affordable prices and kid-friendly amenities such as a bowling alley, soccer field, fitness centers, a children’s gym, gaming arcade and more. This is in addition to standard luxury amenities such as private elevators, spa and adult fitness centers. Sales will open in November 2013 where prices will start at $300K-$700K.

Craig Studnicky, who is representing Echo Brickell’s sales confirmed that their condo’s target market include both foreign and domestic families, where prices start below $500K.

New buyers in Miami with children may choose between single-family homes in neighboring districts and luxury condos in Brickell Miami. Miami has several attractions that are family friendly including Miami’s Children’s Museum, Seaquarium, Parrot Jungle Island, Everglades, Miami Museum of Science, Beaches and more.

For other kid-friendly real estate in the area, contact Sydney Server at 305-562-7363.

Contact Miami Realtor Sydney Server for more information.

Sources: The Real Deal
Photo Credit: The Real Deal
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

New Brickell Hot Spots for Italian Dining

October 18th, 2013

This lifestyle feature will highlight three hot new dining spots in Miami Brickell, featuring Italian cuisine.

Cipriani is a world-class restaurant offering a classic experience. Cipriani is located right by the waterfront and it has the capacity to accommodate up to 400 guests.

This NEW MIAMI Lifestyle favorite is really for those who like to splurge. Cipriani is located inside Icon Brickell, Tower 1. The Patio Lounge is also scheduled to open by the end of October with panoramic Bay views. The address is 465 Brickell Avenue.

Lippi debuted just two weeks ago by Tunu Puri of Zuma. It has excellent food, decent prices and excellent service. Lippi is chic, sophisticated but also cozy. Its address is 600 Brickell Avenue, across the street from Icon Brickell.

Spaghettino – has the same owners of successful restaurants like Villagio, Bella Luna and Carpaccio. It pays nod to famous Italian classics and is located at 947 Brickell Avenue.

Cipriani and Lippi are Sydney favorites. Brickell is home to a bevy of restaurants to satisfy the differing tastes. Get a preview of other restaurants here.

Contact Miami Realtor Sydney Server for more information.

Sources: Cipriani, Miami Eater, Spaghettino
Photo Credit: Miami Eater
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

 

Bal Harbour Shops to Undergo $200M Expansion

October 18th, 2013

Bal Harbour’s developers are proposing an added 250,000 SF of retail space to the luxury shopping destination. Bal Harbour Shops was ranked as the top shopping center in the world last year, based on sales per SF. The shopping center currently measures 450,000 SF, and expansions would be completed by 2016. In addition, the estimated budget is $200M as per Whitman Family Development.

Currently, there are two redevelopment proposals sent for review to the Village, according to Miami Herald. It would include department stores and over 20 new specialty shops. A team of architects are furthermore collaborating on the master plan. The Neiman Marcus store would be extended and an adjacent Church by the Sea built. One inclusion that won’t be on the agenda are social catering venues due to concerns of traffic congestion by residents.

About Bal Harbour Shops

Bal Harbour Shops have been the epicenter of luxury retail in Miami Beach for decades. It’s located at 9700 Collins Ave, Bal Harbour, FL 33154. Miami is currently undergoing other luxury transformations in the Design District as well as Brickell CitiCentre. According to a statement from the company representative, the aim of Bal Harbour Shop’s expansion would be to ensure it remains as relevant as it did in the last five decades. In addition, the new expansion would be a welcome improvement of space for current and prospective tenants.

For more commercial real estate news, go here.

Contact Miami Realtor Sydney Server for more information.

Sources: The Real Deal, Miami Herald
Photo Credit: YouTube
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

What Are Cash on Cash Returns?

October 16th, 2013

One of the top investor questions is the difference between cash on cash returns and return on investments (ROI). The main distinction with cash on cash returns is the returns on cash invested, or the down payment, compared to return on the total investment (i.e. down payment + loan amount).

Cash on cash returns are calculated by the annual cash flow divided by the cash dollar invested. As an example, if you invested $20,000 in an income property, and the annual cash flow following all expenses were $600 per month, the cash on cash returns would be:

$20000 ÷ $7200 = 36%.

($7200 being $600 * 12 Months)

Other abbreviations for cash on cash returns include COC or CCR. The formula is useful for weighing the first year’s cash flow, as well as making comparisons between one income property and another.

Seasoned Miami investors recommend sticking to properties that give a cash on cash return of more than 20%. Ideally income properties should generate more than the operating costs as part of the monthly rent, including the mortgage, insurance and taxes. Other expenses that investors should plan for include maintenance and occasional vacancies.

As an added suggestion, real estate formulas for aiding new and veteran investors include the CAP rate. More details on this equation can be found here. The article furthermore discusses some of the top ways to evaluate multi-family income properties.

Contact Miami Realtor Sydney Server for more information.

Sources: SydneyServerRealEstate.com, Investopedia
Photo Credit: Bigger Pockets
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty