Brickell on the River South Lobby – Video
February 28, 2009 by Lucas Lechuga
Brickell on the River South is a loft building that has one and two bedroom two-story lofts. It is located on the northern end of Brickell at 41 SE 5 Street Miami, FL 33131.
Brickell on the River South sales
Brickell on the River South rentals
This is my avice to Icon who does not know if he should close on his 3bd.apartm and invested more than $200,000. Was it an investment or you planned to live there yourself?
If it was an investment (obviously I do not know your financial situation and if you planned to finance it or pay all cash) the scenario can be differend dependable on your personal situation. Here is what I would do in order not to loose your deposit: I would look for the smallest unit in the building that is in developer’s posession and has great views (I do not know the prices there) and invest may be additional $100,000 -$120,000 and buy it for cash. If you rent it then you will get probably some positive cashflow. this is how you can keep it without any effort for as many years as the market will demand. IT is hard for me say anything for sure since I do not have figures but in general this is what I would do.
Nice Lobby but still only worth $125.00 per square foot and whose the derelict at the check in counter.
The Smart Money, never derelict in our predictions.
lara
positive cash flow? i don’t see how that’s possible. the taxes and hoa alone will be north of 1500 in a year. 1bdrms at icon are about 750 sq ft give or take. who’s gonna pay that price when there is so MUCH inventory available…not only in Icon, but the surrounding neighborhood as well? not to mention, as soon as he closes on this place, it’s going to be worth less than what the developer sold it to him for.
and to add to that,
When Icon officially becomes a huge rental building (its inevitable), the rental program will be super cheap, with hardly any deposit money required for renters to move in.
I guestimate rents for 1 bedrooms at Icon will start at about $1,000 per month with 1 month deposit to move in.
Nice lobby.
A couple of weeks ago, I posted the following:
Talking about “fraud and greed”…
Has anyone learned of meltdown-related civil RICO actions against banks, developers, derivatives spinners, CDO swappers, Ponzi sustainers and/or other meltdown initiators and potential miscreants?
It appears that several plaintiff groups are looking to bring legal action against Madoff and others under the Racketeer Influenced and Corrupt Organizations Act (18 USC 1961 et seq). Apparently, private attorneys general can bring civil actions under RICO and recover treble damages.
RICO has teeth so why stop at Madoff et al?
www4.law.cornell.edu/uscode/18/1961.html
———
Earlier today, while browsing another blog, I saw a link to a press release announcing a lawsuit claiming fraud and civil RICO causes of action against the Related Group, the Donald, and others.
Here’s the link: http://www.prweb.com/releases/2009/02/prweb2190914.htm
IMHO, the allegations in the complaint do not begin to meet civil RICO’s “pattern requirement”. Although this complaint may not go far, it could be the first of many.
OK, time to get some popcorn.
I luv ya Lucas. But,
Worst. Video. Ever.
just make em all welfare and low income housing
well wait aren’t most people in miami low income ?
tea partys in 40 city get out and have a protest