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Cervera Real Estate Sells Out All 525 Condominium Residences at 900 Biscayne Bay
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Written by Muriel J. Gibson   
Tuesday, 20 December 2011
Terra Group’s 900 Biscayne Bay luxury residences are now completely sold, which marks the highly-anticipated sellout of the property that played such an iconic role in the revitalization of the area comprised of American Airlines Arena, Bicentennial Park and the Adrienne Arsht Center. Cervera Real Estate served as the exclusive broker for the project since the project’s inception, and maintained sales totaling more than $320 million. The complete sellout adds to a record of more than 40 continuous years of success.

The 63-story tower offers views of Biscayne Bay, the Port of Miami cruise ships, South Beach and the Atlantic Ocean. Properties range from “one bedroom plus den" apartments of 1,000 square feet up to the 4 bedroom, 4 ? bath penthouses featuring 3800 square feet, a den, and balconies.

“I’m proud to once again lead the successful sellout of a distinctive South Florida luxury condominium project,” said Alicia Cervera, founder and chairman of Cervera Real Estate. “Working closely together as a team with Terra Group, we were able to complete closings three months before the anticipated target date and achieve a price of more than $400 per square foot.”

Alicia Cervera added that the sellout at 900 Biscayne Bay is an important benchmark because it shows the renewed local prosperity coming as a result of increased interest in South Florida as a destination for luxury living. Cervera, always in the forefront in representing the best locations, is currently working with local clients to consider new projects.

Historically, Cervera Real Estate has the proven expertise and reputation to price projects and sell them at the strategically appropriate velocity. Cervera is proud to note that all the projects the firm has represented were closed by the original developer without construction loan defaults. Terra Group brought Cervera in for its creative forces and aggressive marketing of 900 Biscayne to prospective international buyers. Moreover, Cervera also worked extensively with the developers directly on factors such as pricing, floor plan layouts and amenities to successfully establish a brisk, sustained sales pace.

With its stunning views and central location, 900 Biscayne Bay offers concierge services for residents, 24-hour valet and security services, a spa, pool deck lounge, and custom interior design packages.

“We’re believers in the long-term promise and the allure of the Miami market,” said David Martin, chief operating officer of Terra Group, the developers of the upscale residences. “People are looking to the downtown/Bayside area for exceptional residential offerings, and with the final sale we see confirmation that this Terra Group project absolutely delivers.”

The final condominium property sold was a 4 bedroom, 3990 square foot residence, which sold for $2 million to a young family from Brazil.
Last Updated ( Tuesday, 20 December 2011 )