Walk to Lincoln Road

Walk to the Beach

Mingle with young professionals and students

10 minutes to Brickell

Feng Shui design

Incredible sunsets over the bay with the Miami skyline as your background:  Simply breathtaking

Great amenities including: heated pool, hot tub, beach volley ball, access to the bay for kayaking, tennis court, convenience store, ATM machine, community room with pool table and wet bar, 24 hour security and Feng Shui garden, Onsite management

Ok that’s more than five reasons.  The bottom line is that the Waverly South Beach is a great place to live.  It is convenient to work and play activities.  Best of all, it is still reasonably priced with for sale units starting in the 200s and rentals starting at less than $2000/month.

While many Miami and Miami Beach condominiums continue to struggle with maintenance delinquencies, the Waverly gains health. The magic number for Fannie Mae is a 15% delinquency rate. Many buildings approach double that figure and cannot receive institutional financing. The last reported rate at the Waverly was 18%. There are currently 31 units out of 399 total units available for sale, an incredible 7.8%. There are 13 pending sales, almost all of which are foreclosures, REO or short sales properties. These units typically have owners that are not paying the monthly maintenance fees. The delinquent maintenance fees must be settled at closing. So the good news is that the delinquency rate will fall below the 15% Fannie Mae guideline and this will allow institutional lending to return to the Waverly Condos. Additionally, the Waverly collects over $39,000 in reserves each month and maintains a 20% bad debt fund. This is really good news for the typically buyer looking to purchase a primary or second home on Miami Beach. We could see a rise in the number of closings as financing returns. There were 12 closed sales in the last 90 days ranging from 204K to 545K. Robert Fournier and George Thomas at Live Realty, Inc. Live Realty , located in the lobby of the Waverly Condominium continue to lead sales and rentals at the Waverly of South Beach.