Blue Condominium 2 Bedroom Sells For $190K
January 7, 2010 by Lucas Lechuga
A 2 bedroom foreclosure condo at Blue Condominium closed earlier this afternoon for $190,000. This marks the lowest that a 2 bedroom in the building has ever sold. Unit 1207 has 1,158 square feet of interior space and a view of Biscayne Bay. It originally went under contract on August 10, 2009 but the closing was delayed for months due to problems that needed to be corrected with the deed. Currently, there are twenty 2 bedroom short sales at Blue Condominium, two of which are listed for less than $190K. Hopefully this recent sale will give banks the kick in the butt to start approving some of the short sales in the building.
Hope the purchaser likes counting cars and the “rattle and hum” of a major road-way.
scriv
we start with the new year with good news, but until the unemployment drops at leat 3 o 4 points I dont see 20 units @ 190k a realistic budget for any family.
scrivener,
I looked at a few units there and I agree, what a poorly designed building. It not only sits directly over 195, but the building is turned so that the majority of the units are literally ontop of it. Why didn’t they build it facing the other way? Even from the high floors you still have a ridiculous amount of road noise.
not impressed
“I looked at a few units there and I agree, what a poorly designed building.” – – DJ
BRILLIANT!! I could not agree more. I nominate this building as the poster-child for the Miami “Dumb Development Survey” (competitive bids welcome in this nomination process – – and ok, if someone wants to improve on the name of the survey, pony up!). Who’s with me? Who’s with me?
I guess the best news for the owners on the North side of the building is that owners of units on the South have similar noise issues – – so they are equally hosed. Better yet, those on the east and west sides – – have full Dolby surround sound road noise….BONUS!
I think that this development illustrates a problem common to an unfortunate number of of the new developments: they were built not because someone thought someone would want to live there but, rather, because a developer got financing to build “something” – — and thus, this is all Miami got: “something.”
Am I correct in observing that the unit is unfinished (no floor)? So this is yet another “investor” property? Even better.
And wow! Look at all the short sales available: http://www.miamicondoinvestments.com/for-sale/Arts-District/Blue-Condominium/
WOW! Is this a record?
scriv
I seen one listed in the building for $175 the other day.