Vue Brickell Miami

 

Vue at Brickell (formerly Summit Brickell View) is located at 1250 Miami Avenue between 12th and 13th Streets in Downtown Miami. It is one of the latest additions to the Brickell

area expansion project.

 

When Summit Brickell View was completed in 2004, it was set to be one of the largest

rental high rises in the Miami area. Standing at 423 feet and consisting of 36 floors, it quickly caught the eye of many investors seeking to turn the property into condominiums.

 

In January of 2005, Sunvest Communities bought the property for $82.5 million and

decided to shut down the building temporarily to allow for all the necessary changes to be made for their exclusive condominium plan.

 

At that time only 30% of the building had ever been leased, so relocating the existing tenants or offering them the opportunity to buy one of the new condominiums was easily accomplished.Re-opening later that year as Vue at Brickell, the conversion of the rental property now allowed for the sale of 336 luxury condominiums.

 

A LUXURY condominium seems to be a severe overstatement when you look at all the new surrounding properties. This has now become a focus in the ongoing mortgage fraud wars of Miami.Vue at Brickell is finding itself smack dab in the middle prodding eyes in the search for mortgage fraud in the new Brickell buildings in the Downtown Miami area. The views expressed by many trusted analysts in Miami have shown that in regards to this particular property; the appraised amount, listing price, and sales price, donít exactly measure up to industry standard.

vue brickell miami

 

In 2007 sales, an average of $120,000 to $150,000 has been added to the listing price of the units that were sold.

This generally throws a red flag up immediately to any mortgage company unless a reasonable explanation for the additional cost can be accounted for (example: high-end appliances, marbled floors, waterfront views, or things of that nature).

 

This is where the explanations regarding Vue at Brickell just donít seem to cut the cake. Most of the originally carpeted floors and hallways are still there, the same basic appliances never changed since their initial installation, plain basic ceramic tiles, and there are very few units that can actually claim they have a bay view.

 

This leaves a large question mark in the eyes of the community as to why the units at Brickell are being sold for far higher prices then what some of the newer and more luxurious units are. Somebody is going to have a lot of explaining to do in the very near future!