Brickell Flatiron is reporting an increase in sales following groundbreaking this month, and the developer has released new renderings of the interior.
Italian designer Massimo Iosa Ghini, who designed Milan’s Ferrari flagship store, is the interior architect. Art by Julian Schnabel will also be installed in the building’s public spaces once completed.
A CMC source said that the recent sales increase has been especially noticeable in the penthouse units. A press release from the developer declares that Flatiron will be the “last condo to rise in the Brickell neighborhood this real estate cycle.”
Ugo Colombo’s CMC Group Breaks Ground on 64-Story Brickell Flatiron Condominium in Downtown Miami
Construction of the 549-unit tower marks the last condo to rise in the Brickell neighborhood this real estate cycle.
Ugo Colombo’s commitment to timeless style, breathtaking luxury and meticulous detail has been a constant in the sea of change that has come to define Miami real estate over the past 20 years. It was then, in 1993, that the Italian-born developer’s CMC Group began building Bristol Tower, the condo that ignited the luxury residential boom in Miami. Bristol Tower’s success was followed by the launch of Santa Maria in 1996, the 52-story tower whose ‘mansions in the sky’ reshaped the Brickell skyline and put the district on the map as one of the world’s top-tier luxury markets. Since then, Colombo has focused on developing only three condominium developments – Porto Vita in 2004, Grovenor House in 2005 and EPIC Hotel & Residences in 2008.
This is no accident. In a condo market characterized by dramatic boom-and-bust cycles, Colombo has made a habit of developing at his own pace: one building at time, nothing more and nothing less.
Colombo is leaving his mark on the current wave of development with Brickell Flatiron, a 549-unit residential tower situated at 1001 South Miami Avenue in the heart of the Brickell Financial District. Hovering 736-feet above street level, the 64-story Brickell Flatiron tower will be one of the country’s tallest all-residential buildings in the U.S. when it opens. When construction crews broke ground on Brickell Flatiron last week, it marked the start of development on the last condo tower set to rise in the Brickell neighborhood this cycle, according to a new report by the Miami Downtown Development Authority.
“Brickell Flatiron’s height will add another iconic element to Miami’s skyline, but the project also represents a bookend to a 20-year era that dates back to 1996,” said Colombo. “Since we built Santa Maria, Brickell has emerged as one of the most desirable neighborhoods in the world – a cosmopolitan district that embodies the urban Miami lifestyle. Our firm ushered in that brand with Santa Maria and we’re perfecting it with Brickell Flatiron.”
To give his vision life, Colombo is partnering with architect Luis Revuelta, master Italian designer Massimo Iosa Ghini and artist Julian Schnabel to create a one-of-a-kind environment. Schnabel, the famed American painter and filmmaker, is designing exclusive, large-scale artwork to adorn the building’s public spaces, creating a focal point for visitors and residents alike.
The crown jewel of Brickell Flatiron will be a Sky Spa and pool deck perched 64-stories over downtown Miami – offering residents panoramic 360-degree views of the cityscape and Biscayne Bay. Colombo’s decision to dedicate the building’s penthouse to all residents – rather than a private owner – echoes the placement of a penthouse spa and fitness center at Santa Maria.
“We’re opening up Brickell Flatiron’s best views and prime public space to all of our residents. We could have sold our penthouse for top-dollar, but instead we’ve made a design choice that will create added value for buyers over time. Many competing buildings have impressive amenities, but Brickell Flatiron is the only tower with a sky spa. That feature will set our units apart today and in 10 or 20 years,” he continued.
Data shows that amenities like these yield above-market appreciation for buyers. For example, residences at 20-year old Santa Maria tower are selling at an average of $857 per square-foot today, which is more than 20 percent higher than pre-construction prices for units at comparable buildings going up this cycle.
Other features at Brickell Flatiron include a 24-hour concierge and parking valet, on-site vehicle washing and detailing, electric charging stations for cars, private storage, access to the Flatiron Theater with stadium seating, an executive meeting room, a billiard and cigar room, a wine cellar, a children’s playroom and an outdoor lap pool and children’s pool.
When residents venture outside the building, they’ll find themselves in the heart of Miami’s urban core, home to the City’s finest shopping, restaurants, and arts and entertainment venues. AmericanAirlines Arena, the Adrienne Arsht Center for the Performing Arts, Perez Art Museum Miami and Frost Museum of Science will all be minutes away by foot, bike, train or car.
The level of planning that has gone into Brickell Flatiron’s location and amenities is matched only by the detail paid to its design. Each unit will be adorned with the finest materials, including Italian-made custom cabinets, stainless steel appliances, Italian marble floors, high ceilings with recessed lighting, custom Italian doors, energy-efficient windows, and glass balcony railings. The building will also feature leading-edge technologies such as fiber-optic Internet and home entertainment connections, multiple HDTV outlets in each unit, private wireless network access, keyless residential entry and more.
“Miami has evolved into one of the world’s top markets for luxury living, and no developer is more responsible for that rise than Ugo Colombo’s CMC Group,” said Vanessa Grout, president of CMC Real Estate, the sales and marketing arm of CMC Group. “Brickell Flatiron will continue that tradition by offering residents the highest caliber of quality and design, the most central location, and some of the market’s most unique amenities.”
Miami’s premier residential real estate brokerage, Cervera Real Estate, is managing sales for the property, with more than half of the tower’s units having been sold to buyers from more than 10 countries, including the U.S.
Units at Brickell Flatiron range from 1- to 5-bedrooms, with a limited collection of penthouse and duplex residences available, measuring up to 6,220 square feet in size. Preconstruction sales are currently underway, with prices averaging about $750 per square foot. Construction is expected to take 2-3 years to complete.