The Latest Trend in the Brickell Condo Market in 2021: A High Demand for 3 Bedroom Units

 Large 3 Bedroom Brickell Condo Units are in Demand with Relocation Buyers

The Latest Trend in the Brickell Condo Market in 2021: A High Demand for 3 Bedroom Units

The Latest Trend in the Brickell Condo Market in 2021: A High Demand for 3 Bedroom Units. The David Siddons Group recently sold this 4 bedroom condo at Asia Brickell.

A High Demand for 3 Bedroom Units Spearheaded by Relocation Buyers

Much has been published about individuals relocating to Miami “en masse”, particularly from the Northeast and New York city. We at the David Siddons Group have in fact been flooded with requests across all of South Florida. In Brickell in particular, we receive 2-5 daily buyer requests from established and serious buyers.

Our 2021 Brickell pipeline and client portfolio includes professionals and Executives in Investment Banking, Private equity, Biotech, Management Consultants and Doctors with established practices to just name a few. Interestingly only a small subset of them are relocating because their company is asking them to physically move. While we have company relocation cases in industries like Hedge funds and Pharmaceuticals, most of the buyers have decided to buy a second home or make Work-from-home a long term decision choosing Miami as their desired home.

That may explain why many of the Brickell and Downtown relocation buyers are looking for 3-bedroom units to accommodate small families in need of in-home remote offices and accommodation for the occasional visitor. This is a different profile to what we’ve traditionally seen in Brickell where most buyers and developers have focused primarily on one- or two-bedroom units. A trend that had been strengthened as properties get more expensive and developers have to focus on smaller floor plans to offer units to buyers at attractive price points.

This is where buying gets tricky as the 3-bedroom offer is quite limited in Brickell, even if you can be upwardly flexible with your million-dollar budget. Things get even trickier if you -as most buyers- seek a brand-new building with ocean views -as promoted in social media and the collective ideal of living in Miami.

The fact is the list of new construction buildings (2016+) where you can find multiple options in the 3-bedroom category is limited to 1010 Brickell, SLS, SLS LUX and Brickell City Centre’s Reach & Rise; with options being drastically limited if you’d like to keep you budget under $1M.

The Latest Trend in the Brickell Condo Market in 2021: A High Demand for 3 Bedroom Units

The SLS Lux Condo in Brickell is one of the few new construction buildings (2016+) where you can find multiple options in the 3-bedroom category.

Of course there are additional units at 1080 Brickell (The Bond), Flatiron and Brickell Heights East and West where the bulk of the units are 1 and 2 bedroom and thus the 3 bedroom offer is limited.

The Latest Trend in the Brickell Condo Market in 2021: A High Demand for 3 Bedroom Units

Brickell Flatiron

Most buyers come to Miami with a vision of water views from their home, and rightly so! The challenge for 3 bedroom and even smaller units is that most of the newer buildings are a couple blocks from the ocean and thus it is unlikely you’ll get great views unless you’re willing to pay a premium.

So what should buyers do? First, if you are lucky enough to get a 3 bedroom in a new building with views for under a million, grab it, they won’t last long as demand is booming and new construction in the foreseeable future is not likely to address it. For example, recently we were able to get SLS Brickell #2705 for one of our NYC clients who got it at a great price. But this is an exception.

The David Siddons Group just put this 3 bedroom unit with water views in the SLS Brickell condo under contract for a buyer.  The unit is priced below $1M

What else for buyers? Increasing budget will help, but not a lot. What might help is getting into tradeoff territory and sacrificing views or, our recommendation, exploring older but quality buildings like Tequesta and Carbonell on Brickell KeyJade on Brickell or even going a little north to a quality building with great views and awesome finishes such as 900 Biscayne. For larger budgets there is always Asia, Santa Maria, Bristol or pre-construction condo Una.

The Brickell Condo Market in 2021: Selling your Brickell Condo Unit

So, what if you are a seller or thinking about options for the 3-bedroom condo you own in Brickell? You are in luck and you should talk to us as soon as possible. Your unit is desired and we will have buyers for it! Contact David or Adriana for more information.

The Latest Trend in the Brickell Condo Market in 2021: A High Demand for 3 Bedroom Units

Contact the David Siddons Group if you are looking to buy or sell a Brickell Condo.

Adriana Montbrun | (786) 277-3480 | Adriana@siddonsgroup.com (Author)
David Siddons | (305) 508-0899 | David@siddonsgroup.c0m 

David Siddons is a top producing Miami realtor with $150M sales in 2020! David is known as a market analyst and he is the author of several of Miami’s most influential real estate reports and forecasts. 
Adriana Montbrun is the Brickell expert of the David Siddons Group and the author of this blog.

WHY WORK WITH DAVID? THINGS YOU SHOULD KNOW...

For all our analytics we are agents driving some very unique and advanced tech. We Provide a granular and custom experience that empower our clients with the insight and tools to understand the most complex behaviors of any local markets.

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    Over 100 reports produced to date

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    Over 1800 published articles and counting

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Akbota YerseitAkbota Yerseit
13:29 03 Jun 22
Excellent leaders!
Cathryne HaladnerCathryne Haladner
12:12 18 Sep 21
We have only superlatives to describe how wonderful Cris Buzolin was throughout the process of selling our townhouse in Coral Gables. We were away in the UK while the transaction was taking place and Cris handled everything-from clearing out our house, selling contents when she could, arranging the moving and storage and dealing with some very difficult problems which arose. Always patient and very willing to help in every way, Cris is a consummate professional who really cares about her clients and worked extremely hard to get the price we had asked for and make things for us as easy as she could. Nothing was too much for her to handle.Cris and Marianela (who provided additional very helpful assistance to us during the transaction) are part of the team that David Siddons has assembled.When we decided to sell our property, we contacted David and he established the framework for the transaction and ensured that everything proceeded smoothly and in accordance with our wishes. In sum, David Siddons and his team are extremely competent and professional and we are totally satisfied with the service they provided. To repeat, Cris Buzolin in particular, went way beyond what one would expect from a real estate agent. The David Siddons Group has our highest recommendation!
Jose Eduardo FilhoJose Eduardo Filho
17:17 13 Jul 21
I thank the whole team and especially Cris Buzolin who, in a very professional and competent way, helped me to sell my property safely and in the best market condition.
Idan Singh (Idan)Idan Singh (Idan)
19:53 07 Jun 21
Great Service for British Expats looking to move to the States.
Simone GarrettSimone Garrett
17:20 26 Feb 21
Fantastic group of people to work with!! David and Adriana were responsive and professional throughout the entire process. We weren't familiar with South Florida so David took us under his wing and did a fabulous job giving us a tour of select neighborhoods in South Florida and shared a great deal of information about each. We fell in love with the Botaniko community in Weston and closed the deal with Adriana. If you are buying/selling this is the team you want to work with!! Thank you guys for helping us find our dream home.
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