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 Lofts Furnished Rental – $1,300/month

This functional 1-bedroom loft space in Neo Lofts – a contemporary, riverfront, full-amenity building designed with residents’ privacy in mind – is being offered for rent tastefully furnished.

Unit features wood laminate flooring throughout as well as two large impact-resistant picture windows and one sliding glass door that grace the living areas with plentiful natural light.

Exposed ducts, pipes, and track lighting decorate the 11′ ceilings, while white European (Dellacassa) kitchen cabinets with black granite tops and white energy-efficient Whirlpool appliances compliment the modern and minimalist decor.

Unit also features a stacked washer/dryer inside a laundry closet with additional storage space.

Building amenities include an infinity-edge pool, a fitness center, spa, sauna, steam room, meditation garden with BBQ picnic area, contemporary lounge with billiard table, lighted tennis court, valet parking (for guests) and 24 hr front desk service.

Rental price includes all living room, bedroom and bath furniture (except for television), decorative framed artwork, designer lighting (track and recessed), window treatments, use of a storage locker and one (1) assigned covered parking space.

Neo Lofts is conveniently located at 10 SW South River Drive in the Riverside neighborhood of Miami on the south bank of the Miami River in close proximity to I-95, Downtown Miami, the Brickell Financial District, the Beaches, and Coral Gables.

It was developed in 2004 by Neo Concepts, designed by Beame Architectural Partnership, constructed by Codina Construction and is managed by Miami Management, Inc.

For more information on this unit or any other RENTAL POSSIBILITIES in NEO LOFTS call me at 305.491.7179 or email me at 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