For every 37 depressing things I hear about the Miami condo glut, I hear one positive item. This one is a press release, which means it's full of lies, but still has some interesting data about the beautiful, dynamic 50 Biscayne and the predictable, affordable Loft 2.
RCRS closes over 500 units in Downtown Miami since Oct.
Miami-based RCRS, having sold hundreds of residential units and seeing them through to closing, is the catalyst for a vibrant new downtown. More than 550 of those units have closed in the last two months alone. Residents are steadily moving into 50 Biscayne and Loft 2, two luxury condominium projects by The Related Group, for which RCRS was the exclusive sales agent. ...
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Closings at 50 Biscayne began Oct. 1 with the law office of Greenberg Traurig and Chicago Title leading the charge. To date, RCRS touts $95 million of real estate closed at the 521-unit high-rise located directly in front of Bayfront Park.
Loft 2 closings began Oct. 9 under the guidance of Sheldon & Pollack. To date, total volume closed is in excess of $68 million. The second in The Related Group’s “Loft” series of affordable urban high rises, Loft 2 is located at 133 N.E. 2nd Ave., a few blocks from 50 Biscayne.
“Downtown is fast becoming a great place to live—with culture, entertainment, and enhanced services at the doorstep of the condominiums located in this new pedestrian-friendly urban environment,” said Alicia Cervera Lamadrid, president of RCRS. “The number of closings in the last two months signifies that Miami is at a turning point. People are taking advantage of the city by choosing to live in the heart of it.”
RCRS, a prominent sales and marketing firm with a client roster consisting of the top names in the real estate and hospitality industry from W Hotels to St. Regis Resort & Residences, has been focusing on the revitalization of downtown Miami with several project commissions that have yielded a resident populated central business district as new buildings continue to be completed.
For more information on RCRS, visit www.rcrs.net.
True or false? Is this just spin? Hard to say yet, but I have high (and biased) hopes for the revitalization of the Central Business District.
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