Foreclosure Opportunities at Neo Lofts

There are currently 2 foreclosure opportunities at Neo Lofts that caught my fancy this morning. They are both bank-owned properties (not to be confused with a “pre-foreclosure” or “short sale”).

The first one, unit 710, is located on the north side of the building and features 703 sf of living area along with 86 sf of open balcony space. Take a look at the MLS listing for unit 710.

The other unit, unit 1702, is located in one of just three lines that have a direct eastern exposure to the Miami River and the Downtown Miami and Brickell skylines. The unit features 867 sf of living area along with 156 sf of private open balcony space. Take a look at the MLS listing for unit 1702.

Interlude: The 02 line in Neo Lofts is one of my personal favorites in the building.

If you’re interested in seeing any of these units, please feel free to contact me at 305-491-7179 or SalgadoA@gmail.com.

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

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

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

Neo Vertika 1/1.5 Split “B” – $260,000 *Short-Sale*

Perfect opportunity for the professional working in the Central Business District, the Brickell Financial District or that person yearning for an urban lifestyle in the heart of the city.

Unobstructed views of an evolving skyline and a meandering Miami River await in this bi-level split unit in the favorable east-facing 04 line of Neo Vertika. Tasteful finishes abound in this functional split B model with 20 ft ceilings and floor-to-ceiling windows that flood the living space with an abundance of natural sunlight.

Unit features oversized white porcelain tile throughout, remodeled full and half baths, white Nolte kitchen cabinets with black granite tops & stainless steel appliances and 2 balconies with pleasant city views.

Building amenities include a lap pool, fully equipped double-height fitness center, the magnificent “V” social room, racquetball court, free valet, and 24 hour security.

Neo Vertika is a 36-story mixed-use (pet-friendly) riverfront building located at 690 SW 1 CT in the Brickell/Downtown area of Miami. The building was developed by Neo Concepts, designed by Revuelta, Vega, and Leon, built by Coastal Construction, and is managed by Miami Management, Inc.

This is a short-sale. ALL offers will be considered subject to 3rd party approval.

The current owner purchased the unit from the developer for $320,000 in July 2006 and spent thousands more remodeling baths, installing floors and lighting, and providing other finishes to make the unit home.

Call me at 305.491.7179 for more information.

Adrian Salgado is a Realtor Associate with RED I Realty in Miami and can be reached at 305.491.7179 or SalgadoA@gmail.com.

Neo Vertika Corner Flat – $225,000

This exquisitely-finished corner flat with an oversized 24 foot balcony that runs the length of the unit and overlooks the signature Neo Vertika pool is available for sale.

Pride of ownership is evident in this meticulously well-kept unit occupied by its original owners. The unit features upgraded Nolte kitchen cabinets with black granite tops and GE Profile stainless steel appliances, 10′ concrete ceilings with exposed pipes, and a utility closet with a stacked washer and dryer. Unique 24″x 12″ Spanish Alcorense porcelain tiles designed in a modern brick pattern grace the functional living area.

A custom wall-to-wall closet (behind the curtains in the photo above), window treatments, and special attention to the most minute detail make this the perfect unit for a single professional or young couple working in the Central Business District or the Brickell Financial District.

Building amenities include a spectacular fully equipped double-height gym, a refreshing lap pool and relaxing spa, the elegant V-room, his and hers saunas, a cigar parlor, an indoor racquetball court, free valet parking for guests & 24-hour front desk security.

This unit is in excellent condition. The conundrum shared by most units in the newer buildings in the area, closet space, has been solved. The living space is very functional. The vibe is very pleasant.

This is not a short sale, pre-foreclosure or REO unit – no bank approval is necessary. This is a good old-fashioned arms-length transaction. Owners are flexible with closing terms.

*Neo Vertika is a pet friendly building with no weight restrictions.

Call me if you have any questions. I can be reached at 305.491.7179. A human voice will answer the phone.