Marina Blue construction progress

[doubleroll]

[theDirector]

Roark speaks truth!!!!!!!!!!!!!!!!

[MiamiBlue]

I am one of the Buyers awaiting a closing date on MarinaBlue. In Los Angeles so I can't drop by for status.

Not hearing much and the Wachovia Webcam is off-line. Anyone else out ther in the same boat?

Which forum is best for news?

[mimo169]

Originally Posted by MiamiBlue

I am one of the Buyers awaiting a closing date on MarinaBlue. In Los Angeles so I can't drop by for status.

Not hearing much and the Wachovia Webcam is off-line. Anyone else out ther in the same boat?

Which forum is best for news?

I drove by there today and it still looks like it needs a lot of work. I hope they don't do the same thing they did at Ten Museum Park.

[MiamiBlue]

Did some shopping - so much panic on the internet, I tried to find a better deal.

There isn't anything in Miami - not even a preconstruction. Nothing with any altitude and a view for under $395/sqft.

Getting excited about those long awaited maragritas on the balcony!

Lots of great photos out there - it looks amazing!!!!!!!!

[VisionMIA]

Originally Posted by MiamiBlue

Did some shopping - so much panic on the internet, I tried to find a better deal.

There isn't anything in Miami - not even a preconstruction. Nothing with any altitude and a view for under $395/sqft.

Getting excited about those long awaited maragritas on the balcony!

Lots of great photos out there - it looks amazing!!!!!!!!

Sweet! and enjoy it well!

[doubleroll]

Originally Posted by MiamiBlue

Did some shopping - so much panic on the internet, I tried to find a better deal.

There isn't anything in Miami - not even a preconstruction. Nothing with any altitude and a view for under $395/sqft.

Getting excited about those long awaited maragritas on the balcony!

Lots of great photos out there - it looks amazing!!!!!!!!

Sweet! What floor you on?

[MiamiBlue]

I have a unit on the 44th floor of the tall tower in MarinaBlue.

My understanding is that I will be in the first round of closing. The first TCO is supposed to be for the 46th floor and below.

Still have no date.

[doubleroll]

Congrats Man! Nice building.

[mileageman]

..

[dave8721]

Originally Posted by mileageman

Marina Blue developers face lawsuits:

http://www.iht.com/articles/2007/12/...iness/real.php

It looks like the lawsuits are about Blue though, not Marina Blue (they STILL haven't built most of the amenities of that building...).

[900Biscayneguy]

Dave, I agree. I toured Blue a year ago. Did not seem horrible to me. It could use some more exciting amenities, but when Blue started sales at the low 200ks...I am not sure what you expect at that price point. What gets me about this article, is that they take some "real estate consultant" who makes predictions and they print it like its carved in stone. Oh well, I guess it is what makes news. I know you can't please everyone and there will always be lawsuits with any project.

[Roark]

Originally Posted by 900Biscayneguy

Dave, I agree. I toured Blue a year ago. Did not seem horrible to me. It could use some more exciting amenities, but when Blue started sales at the low 200ks...I am not sure what you expect at that price point. What gets me about this article, is that they take some "real estate consultant" who makes predictions and they print it like its carved in stone. Oh well, I guess it is what makes news. I know you can't please everyone and there will always be lawsuits with any project.

You got that right! There probably isn't a single development in the last 10 years that didn't have some lawsuit or another.
A few items of note: They quoted that Blue had 26% of the units on the market, that is about 8% less than 6 months ago. That probably means that the units are getting absorbed. 10-15% is healthy.
The other, the infinitely wise Jack McCabe NOW estimates that 25% of the buyers in Marina Blue won't close, when about a year ago, his number was more like 80% of all the condos in downtown.
I've been posting for 3 years that the walk away number is more like the inverse of that 80% speculator number. Nice to see that he is coming around to reality.
Blue has always been a challenged building because of it's location, that location is very inferior to Marina Blue and it is a shame that the journalist compares the two places as if they were comparable.

[900Biscayneguy]

Roark,

Do you think that there is a effort to scare buyers not to close in hopes of some of these "vulture funds" wanting to scoop up these units for dirt cheap and resale them a few years down the road? I had read that some of the vulture funds are mad/disapointed because they have not been able to get dirt cheap units in prime locations for what they had planned on.

[Roark]

Originally Posted by 900Biscayneguy

Roark,Do you think that there is a effort to scare buyers not to close in hopes of some of these "vulture funds" wanting to scoop up these units for dirt cheap and resale them a few years down the road? I had read that some of the vulture funds are mad/disapointed because they have not been able to get dirt cheap units in prime locations for what they had planned on.

I'm not much of a conspiracy theorists...but I do know that the biggest proponent of the "80% speculators in downtown preconstruction" guy is an often quoted analyst with a vulture fund. He has been so dead wrong with the analysis of the CBD/Brickell area, it makes you wonder how/why he sticks to his guns. Although it was not from the horses mouth, someone whom i have a great amount of respect tells me that this same analyst from Deerfield has been buying in the Downtown Miami pre-con market.

[Arkon]

guys, this may be a stupid question or im missing something, but how can anyone or any group scare people into not closing? someone who cannot afford or get financed for something he or she bought is one thing, but...

[Roark]

Originally Posted by Arkon

guys, this may be a stupid question or im missing something, but how can anyone or any group scare people into not closing? someone who cannot afford or get financed for something he or she bought is one thing, but...

...yeah right...so you'd think.
Novices get scared and emotional...even the ones that have enough money to close and carry a property. They may also believe that we are not even close to the bottom. Couple that with a new herd of lawyers that promise to be able to break the contract and get deposits back, and voila more panic and overreaction.
Most residential Realtors will tell you, "Location, location, location". Commercial Real Estate investors and developers will tell you that the three most important elements to a purchase are, "Location, location, timing".
For those that bought Marina Blue at the earlier price lists...have no fear.

[tlack]

Originally Posted by Roark

...yeah right...so you'd think.
Novices get scared and emotional...even the ones that have enough money to close and carry a property. They may also believe that we are not even close to the bottom.

Roark,

I'm curious, how far into the "cycle" do you think we are? I'm a novice, but to me it seems that things will get worse as many of the new buildings begin to come online in the next six months. Do you disagree? I'd love to hear your thinking on this.

- T

[Roark]

Ouch...

Originally Posted by Toucano

What a Piece of shit...
Raising the entrance of MB those 4 feet along with the guardrail will essentially kill any hope of making the street frontage of MB pedestrian friendly. Plain and simple facts from William Whyte's PPS would tell anyone that this is a recipe for disaster, a planning blunder which will further relegate MB into a condo inaccessible to anything but a vehicle...

Ooof...this is harsh too...

Originally Posted by SkyDiveJunkee

^I was thinking the same thing when I viewed these pictures--why on Earth would they "guard" the buildiing from the streetscape? I was hoping these buildings would take advantage of the oversized sidewalks and open restaurant spaces with outdoor seating along Biscayne.

With all due respect to the urban planning from textbook, you fellas just might be jumping the gun on your disdain without looking at the sidewalks, streets, or elevated lobbies that you are deriding.
Thanks to brother Jamesgood, we can see the sidewalks, the elevated entryways (that protect from flooding), the traffic calming parking spaces, the non-"random" shade tree planters, and the beautiful pavers.
For those patient enough not to blow a gasket, these sidewalks will be loaded with pedestrians, tables, and inviting plant life. It will be referred to as the Cafe district. Note: These sidewalks are 7 to 10 times deeper than those in front of every elevated entry on Ocean Drive.
image hosted on flickr

[Hia-leah JDM]

But what the heck is up with Ten Museums park?!!?
By the way I totally agree with ya Roark.