Miami Condos a Steal
Snapped at the recent ground breaking of Le Parc at Brickell: Strategic Properties Group prez Henry Pino, Alta Developers CEO Patricio Ureta, and Alta principal Raimundo Onetto. (Who's giving out gold shovels as presents? Wouldn't people just prefer a gift card?) The 12-story condo building, set to rise just west of Brickell Avenue overlooking Simpson Park, will be done in early '15. Miami, Henry tells us, has evolved into a global city that's attracting buyers from all over the world—with most of Le Parc’s buyers hailing from Venezuela, Argentina, and Brazil. Directly next door to the Le Parc at Brickell site, South American developer Atton Hotels is building a 274-room hotel for completion in 2015.
Despite the condo building boom, and despite rising prices, Miami condos are still considered a value when compared to prices in Latin America or some major US cities (that means you, New York). Henry says Le Parc’s marketing campaign specifically targets Latin America, with its agents in communication with international brokers and attending real estate expos in Colombia, Argentina, Peru, and Venezuela. The building also has a media and social media presence targeting potential buyers in those countries.
