Millecento Closings to Begin Next Month with Built-In Equity

Millecento Condo Residences

Millecento Residences, the third Brickell condo tower to be completed after the market crash, is complete!  Right now, the designers are putting the finishing touches on the common areas and the developer has received Millecento’s Temporary Certificate of Occupancy (TCO) from the 35th floor down.

As far as closings on Millecento condo units, I received an email this week from the developer’s contract administrator stating that the developer will be sending out 10-day closing notices sometime next week, with closings to be scheduled sometime on or before mid-February.  The administrator reiterated that all contracts are “cash contracts” and although the developer will be working with buyers seeking financing, the developer said, “we will not be postponing closings if they [buyers] are not ready by the time they are scheduled to close.”

Buyers of condo units at Millecento must be ecstatic about the skyrocketing values of this project. When originally sold, some early buyers were able to purchase condos at Millecento at approximately $390-$400 per square foot, even though the overall average of the project ended with sales at about $500 per square foot.  Either way, pre-construction condo buyers of Millecento units must be happy that the condos will be valued around $600+ per square foot, according to comparables in the Brickell area.

If you, or someone you know, are interested in selling your condo at Millecento for a premium, please contact Michael Light, your Downtown Miami and Brickell condo specialist.  You may reach me at my office at (305) 350-9842, on my cell phone at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.