Neo Lofts – 2 Bed/2 Bath Loft *Short Sale* – $245,000

unit-1509_living-area3.jpg

A professionally designed and fully updated functional loft space on the 15th floor of Neo Lofts was just listed for sale.

This flexible and versatile living space features 1,000 SF of living area with an additional 77 SF of open balcony space that offers a desirable southern view of Miami’s oldest natural landmark – the Miami River – and Miami’s evolving city skyline. Stained concrete floors, European kitchen cabinets with stainless steel appliances, 11′ ceilings with exposed ducts and pipes, a custom walk-in closet and designer lighting throughout make this a great deal for the buyer with discerning tastes in search of an urban lifestyle.

Building amenities include an infinity-edge beachfront-entry pool, spa, fully equipped fitness center, sauna, steam room, contemporary lounge with billiards, meditation garden with BBQ area, dog park, 24 hr doorman, business center, on-site property manager and valet parking.

Monthly association dues are currently $735.51 ($0.73/SF). However, the Board of Directors at Neo Lofts is scheduled to meet next week in order to adopt a revised operating budget for 2008. The change in the operating budget is due to the Global Closeout Agreement and Settlement Payment Agreement to the Neo Lofts Condominium Association.

The monthly association dues are due to change to $529.82 ($0.53/SF) effective April 2008. $0.53/SF is in line with association fees in established comparable buildings in the area. ASSOCIATION DUES INCLUDE FULLY FUNDED (100%) RESERVES. Neo Lofts Condominium has a very healthy operating and reserves budget.

This is a SHORT SALE subject to THIRD PARTY APPROVAL. Qualified buyers must close with sellers approved closing agent. Pre-approval letter or proof of funds must be submitted with every offer.

The seller paid $410,000 in September 2005 and spent thousands more in tasteful updates and improvements.

Unit 904 – very similar in size, layout, finishes and views, but located 5 floors below the subject – recently closed for $250,000 on March 19, 2008. Take a look at the MLS listing for unit 904.

Call me at 305-491-7179 if you’d like to see this unit.

Adrian Salgado is a Realtor Associate with RED I Realty in Miami, FL and can be reached at 305-491-7179 or SalgadoA@gmail.com

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6 Comments

Filed under Neo Lofts

6 responses to “Neo Lofts – 2 Bed/2 Bath Loft *Short Sale* – $245,000

  1. squirel master

    How about 40 acres and a mule…..

  2. Raul Estrada

    The current owner has done a terrific job with the decorating, lighting and finishes. This should be a slam dunk for a long term hold.

    A building with 100% reserves!!! I have a feeling some people have no clue what that feels like.

  3. Adrian Salgado

    Definitely.

    It’s unfortunate that a lot of buyer’s agents don’t inquire about this when representing their customers.

    That’s one of the most important pieces of information when buying a condo – the health of the association.

    Too often buyers get caught up in the aesthetics of things and forget to look behind the glitter and gold.

  4. Rob

    It’s a steal! Good move for whoever has the money!

  5. dkzody

    very nice, can you move it to San Francisco for the same price? I’d come right over. :)

  6. Kyle

    Sold! Finally! – Thanks Adrian

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