Brickell Miami: townhome purchase. Thoughts on this deal?

[Faheem Walji]

Hi all,

My wife and I are looking to purchase a property in Miami, FL and wanted your thoughts on some of the things:

1. What are your thoughts about Brickell, Miami? Is this area trending up/down? I know there is a surplus of condos in brickell but townhomes seem to be rare and rarely available on the market. What are your thoughts on the townhome market?

2. My concern is that there is a lack of “like/similar” properties that have sold recently. How would this impact the appraisal?

3. What are your thoughts on the deal? Purchase price is $420k for a 2/2 townhome on brickell ave, 1200 sqft, all work done, corner unit. Will this appraise due to lack of sales comps?

Thanks,

F