Construction is well underway at The Related Group's Mybrickell luxury condominium, which already has over 90 percent of its units sold.
Miami-based developer The Related Group is building great success with their new downtown Miami development Mybrickell, as the group is set to reward over $3.2 million in commission checks to its brokers, according to an issued press release.
Brokers have already sold over 90 percent of the units in the 27-story luxury condominium, located along Brickell Avenue.
Carlos Rosso, president of the condominium development division for The Related Group, explained that around 80 to 90 brokers will be awarded at a private event, and that they’ve already sold 180 out of 192 units since selling started.
Rosso attributes this success to the value and deals that he says his group is offering, which he explained was the biggest incentive for buyers. The starting price for a unit at Mybrickell, according to Rosso, stands at $149,000. He further explained that a lot of the buyers are Latin and European, and are attracted to Mybrickell’s features like a finished kitchen, which he says isn’t available at condos located in similar locales like Buenos Aires and Sao Paolo.
Mybrickell’s prime location has also become another incentive for buyers, especially for those that work close by at Brickell World Plaza, explained Rosso.
An official groundbreaking event for Mybrickell occurred on June 14, while an expected move-in date for buyers is scheduled for November of next year. Construction crews have already poured the unit’s ground floor, and have already erected the first few columns, according to Rosso.
The Related Group has seen quite a momentum in sales, as their Apogee Beach condominium in Hollywood, Fla. has also received a warm response from buyers. Rosso reports that 46 out of 49 units have already sold since selling started last May, and that the group recently issued over $2 million in commission checks to its brokers.
Rosso attributes the success of Apogee Beach to the condo’s privacy. “There’s few units [and] there’s no building neighboring the south,” he said.
Apogee beach is slated to open its doors in August 2013.
As The Related Group continues to build upon the success of Mybrickell and Apogee Beach, Rosso explains that their buyers remain their number one priority.
“We are always trying to design and develop with the buyers in mind,” he said. “[It’s] not our vision, but what the market really wants.”