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Blue

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Neighborhood: Midtown-Edgewater

Year Built: 2006

# Units: 330

# Floors: 36

# Parking Levels: 5

ROSS100 Condo Index Ranking +

98

out of 100

COST RATING: +

1.50 out of 5

LIFESTYLE RATING: +

2.67 out of 5

Ross’s Comments – What you Need to Know about Blue

Jim Clark, the entrepreneur and founder of Netscape and Silicon Graphics, developed both Blue and Marina Blue in downtown Miami.

The blue glass tower and curved shape is easily recognizable amongst Miami’s high rises.

The amenities are located on the sixth level of the tower and there are two pools on both the east and south side of the tower, so sunning throughout the day is not an issue.

Unfortunately, due to the fact that Blue is sits between the east and west bypasses of a major interstate, it is difficult to escape the noise from the heavy traffic unless indoors with all the doors and windows closed.

All units face either north and northeast, so skip this tower if you are looking for an open view of the bay or southern exposure.

BUILDING QUALITY +

MANAGEMENT +

LOCATION +

RENT FRIENDLY +

ACCESSIBILITY +

FINANCING +

DESIGN & EFFICIENCY +

AMENITIES +

WALKABILITY +

PET FRIENDLY +

PARKING +

SECURITY +

RECENT PRICE/SQ FT $376

RECENT PRICE/M² $4,047   

MAINTENANCE COST/SQ FT $0.76 – $0.99

2 BEDROOM PRICE RANGE (2014-2015) $331,000 – $510,000

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UNIT SIZES  761 – 2,413 sq. ft (71 – 224 m²)

UNIT TYPES  1 ,2 and 3 bedrooms

# OF UNITS  330

# OF FLOORS  36

# OF PARKING LEVELS 5

ARCHITECT  Arquitectonica

DEVELOPER  Hyperion Development

PET POLICY  Pets allowed subject to restrictions. 

24-Hour Concierge, Valet and Security

Private 6th floor piazza with panoramic Biscayne Bay views

Heated swimming pool and spa

Lap, cold plunge and thermal pools

Furnished sun-deck

Billiards/Game-room

Restaurant

Fully-equipped fitness center, spa and treatment rooms

MIDTOWN / EDGEWATER

The trendy areas of Edgewater, Midtown Miami, Wynwood Arts District and the Miami Design District, have quickly emerged as the next center of cultural, arts, commercial and residential growth just outside of the Downtown Miami district.

Major construction is already underway to further transform the Miami Design District into a destination for fashion, design and culture. In 2014, luxury fashion brands such as Givenchy, Miu Miu, Tom Ford, Fendi, and Dolce & Gabbana among others, will be opening in the Design District. The new development will also include buildings by renowned architects Sou Fujimoto, Aranda/Lasch, Iwamoto Scott and Leong Leong.

In what used to be the manufacturing district of Miami, over the past few years local developers have rehabilitated warehouses and other unused buildings into the Wynwood Arts District. Today, Wynwood consists of numerous art complexes, galleries, performing art spaces, restaurants and cafes.

Due to its strategic location and availability of waterfront property, Edgewater is currently realizing the largest growth of these submarket areas with over 2,600 new residential units under construction. According to a study released by the Miami DDA, this is a 67 percent increase over the current size of the market. This, combined with the development opportunities surrounding the Arsht Center for Performing Arts, present the most potential for long-term growth in the Greater Downtown Miami Market.

Based on the historical absorption of new residential units (since 2001) and the anticipated annual delivery of new units, we expect that there will still be considerable residual pent-up demand for new construction condos in the area over the next four or five years.

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