The Vue at Brickell undergoing renovations

The Vue at Brickell
The Vue at Brickell

The Vue at Brickell is undergoing a much-needed face lift after foreclosures and short sales nearly toppled the building during the last real estate cycle, Miami Condo Investments reported.

During the downturn, the 37-story Vue was “an unfortunate victim of widespread mortgage fraud,” according to the site, leading to mass foreclosures and short sales throughout the building.

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At the height of Miami’s real estate collapse in 2008, some 200 of 323 total units were behind on condo association dues, reducing the building’s budget and upkeep. With one-bedroom units in the building selling for more than $400,000 in 2007, prices plunged in 12 months, and one-bedrooms could be had for less than $100,000, according to the site.

In a sign of Miami’s rebounding real estate market, the Vue at Brickell recently installed a new fitness center and will soon unveil its new pool deck, with a lobby renovation scheduled to begin later this month. One-bedroom units at the building, blocks from Mary Brickell Village and Swire Properties’ future Brickell CityCentre, are now listing from $265,000. [Miami Condo Investments]Emily Schmall