latest real estate project, the Brickell Flatiron, is officially completed.
This building is a 64-story, 527-unit tower, and is a beautiful contributor to
the downtown Miami skyline. This project broke ground in early 2017 and has
since gone through exceptional progression to become the beautiful building you
see today. Ugo’s passion for Miami real estate combined with Luis Revuelta’s
eye for design has created a real estate masterpiece. The interior architect
Massimo Iosa Ghini created a seamless transition from exterior to interior by
introducing the concept of fluid, continuous space.
The CMC Group has received its temporary certification of occupancy which means that closings will begin right away. The Brickell Flatiron is about 95 percent sold, with more than half of that percentage consisting of domestic end-user buyers. The lowering of deposit requirements to 30 percent at the beginning of this year has attracted more U.S. buyers to the building. This project has been a success story and Ugo Colombo already has another project in the works which is sure to be another beautiful contribution to the Miami skyline.
Learn more about Italian-born real estate developer Ugo Colombo, President of CMC Group.
Ugo Colombo has been one of the most important figures in Miami real estate since the 1980’s. Ugo left his home country of Italy to enroll at the University of Miami and immediately saw the potential Miami had for real estate investment opportunity. Ugo Colombo has gone on to become a pioneer in the development of Miami’s bayfront skyline, re-invented the luxury condo market in the city, and acquired one of the most successful luxury vehicle dealerships in the U.S., The Collection, in 1994.
Fast forward to 2019; many new investors are starting to see and capitalize on the potential that Ugo Colombo saw in Miami real estate back in the 80’s. In fact, Miami ranked 3rd on a recent study from realtor.com highlighting the top 10 U.S. markets for real estate flipping. Many investors are purchasing single-family homes with the intention of renting them out or flipping them for a profit. According to the study, 17 percent of all Miami homes purchased are bought by these investors. With average profit at nearly $67,000, Miami certainly will be a real estate investment hot spot for years to come.
In the early 1990s, Ugo Colombo saw the investment opportunity in Miami real estate, and now it is starting to reach its full potential. According to Norada Real Estate Investment, Miami real estate appreciated 57.70% over the last ten years, which is an average annual home appreciation rate of 4.66%, putting Miami in the top 10% nationally for real estate appreciation. Despite the downward motion nationwide in the housing market, Miami real estate appreciation rates are strong and have continued to appreciate in value faster than most places. The real estate market in Miami is doing well and has seen a dramatic increase in office locations.
Offices are Taking Over
Office development in Miami has hit its highest level since 2009, which is partially caused by the relocation of tenants from high-tax states. According to The Real Deal, 1.9 million square feet of office space is expected to be completed in the next two years. As of 2011, only 500,000 square feet of office space was expected to be completed, as opposed to the nearly 2 million square feet that is now expected. On top of the relocation of tenants from high-tax states causing this change, it is thought that corporations wanting to expand their Latin American business could also be another reason for this shift.
If you are
thinking of investing in Miami real estate, especially in office space, it
seems as though the statistics and numbers are on your side. Miami continues to
become a “mini-Manhattan” and is seen as a good investment opportunity for the
Some may think
that the key to success in the real estate development industry is to take on
as many projects as possible and hope for the best. However, expertise,
attention to detail and planning are the true key elements to being successful.
CMC Group Founder, Ugo Colombo, was recently named a Power Leader in Real Estate by the South Florida Business Journal. He is an alumnus of the University of Miami with a degree in business administration. When asked what his key to a successful career is, his answer was simple. He only takes on one or two projects at a time and pays extreme attention to detail to each one.
He added that
planning in the beginning stages of a project is crucial to the project’s
success. It’s very similar to racing, if you aren’t prepared for the turn
seconds before, there may be big consequences to pay. The same goes for real
estate, if enough planning isn’t done before the project breaks ground, the
price will be paid during or at the end of the project.
ago, Miami had a totally different look and feel than it does today. When you
look at Miami now, you will see a beautifully diverse city with unique
buildings and people. This diversity can be explained by the great value that
Miami real estate offers on a global scale. Locals find the pricing of Miami
real estate to be incredibly expensive, but foreigners see low prices for
Ugo Colombo brought his Italian architecture and design to his luxurious buildings in Miami. However, Italy is not the only country that will be seen and felt in Miami’s culture. We may see a number of unique architectural designs that are influenced by a number of different cultures as more foreigners dive into the inexpensive Miami real estate market. Although Miami real estate may seem expensive to locals, according to the Worldwide Cost of Living Report by the Economist, Miami is ranked at number 71 in the list of most expensive cities. Singapore, Paris, and Hong Kong were all tied for first place. These numbers indicate that inexpensive luxury living in Miami will bring in more foreigners who are eager to get into this market while the prices are so low. With more and more foreigners entering the city, Miami will become an even bigger melting pot and will see cultural benefits from all the new and unique backgrounds.
dynamic partnership began in 1988, Ugo Colombo and Luis Revuelta have been unstoppable
in the world of Miami real estate. Their first buildings, the Bristol Tower and
the Santa Maria, were completed in the early 1990s. Since then, they have
helped shape Miami’s skyline and continue on their journey today with their
latest project coming to completion this summer. They focus on the influence of
Italian culture in their buildings, but that does not mean all of their
projects are alike. They adapt to the demands of the market at the time, and
are always inspired by the ability to create a functional space that the
inhabitants love to live in.
Design with Luxury in Mind
Ugo Colombo starts from the inside when planning a
building. His main goal is to create a space that is enjoyable. His attention
to detail and hands-on management produce a space that ensures functionality.
Luis Revuelta likes to see movement in the design to create a “kinetic feel.”
Unlike the stable, concrete structure on the exterior, his interior design
creates flow and motion from one space to the next. With both of these
masterminds working together, Miami has become a beautiful destination that
locals and tourists love spending time in.
is known for being fun, vibrant, and full of life. However, nearly 30 years
ago, downtown Miami was not the youthful and luxurious place we now know and
love. It all started with a vision by real estate developer Ugo Colombo to
invest in this “blank canvas” when he began the process of creating an entirely
new environment. Today, we see more than 150 skyscrapers in downtown Miami and
the city’s growth continues.
The Brickell Flatiron
Ugo Colombo and
designer Luis Revuelta plan to have the new Brickell Flatiron building
completed this summer.Great time
and effort have been put into every detail of this luxurious building and they
are not about to rush perfection. It is located at the heart of the city so
that those who live in the building can step out their door and right into the
action of the city. It will have first-class amenities, beautiful imported
finishes, and functional living areas.
Beautiful Imported Finishes
Ugo Colombo personally hand-picked all the finishes
in the Brickell Flatiron. These finishes include Italian marble, Venetian
stucco, and the highest quality glass that exists on the market. When you walk into
the Brickell Flatiron, you will feel the luxury and elegance of Italy without
County real estate market continues to grow at a rapid pace. Billions of
dollars are being put towards the development of residential communities and
commercial buildings that are outline the Miami skyline. In fact, Miami-Dade
County is considered one of the hottest markets in the country right now and the
demand for quality developers is high.
Exciting Real Estate Projects
projects are coming to completion and new developers are breaking ground every
day. Urban planning has been a driving force in many of Miami’s latest buildings.
Sitting high on the list is the push towards the improvement of public
transportation to help reduce the amount of congestion caused by vehicles. Exciting
projects include the Miami River Walk, Pier 19 Residences & Marina, and the
CMC Group’s Contribution
A significant contribution to Miami comes from developer Ugo Colombo’s premier luxury real estate company, CMC Group. Their latest project, Brickell Flatiron, stands to be one of the tallest luxury condominium towers south of the Big Apple and is projected to be completed this summer. Giving residents of Miami-Dade County the option to walk out of their condo to shops, restaurants, parks and even work without stepping inside their car is a goal that fuels Colombo’s projects, along with luxury living.
become a cultural hub and has what it takes to attract both domestic and
foreign buyers. The lifestyle in Miami is often compared to that of New York
City, but anyone who lives there can attest to its unique environment and
lifestyle. If one thing is for sure, the future of Miami-Dade County is
promising for both developers and residents.
Miami is one of
the best cities to live, work and play in. The city offers promising tax
advantages, a lifestyle like no other, beautiful weather, beaches and so much
more. For developers, the market is promising. Location is key to a successful
project and Miami offers just that.
Miami Real Estate
generations are influencing the urbanization of cities like Miami, L.A., and
New York. Living downtown is perfect for millennials who do not have vehicles
and prefer using rideshare apps or walking to their destination. For those
moving to Miami, they get the best of both worlds between the Miami lifestyle
and the convenience of living in a city. Residencies are filling up in downtown
projects quicker than they can build new ones.
Ugo on Luxury Living
According to Ugo Colombo, luxury is subjective and doesn’t necessarily have to translate to expensive. Luxury should bring comfort to a person and that can mean many different things in terms of style and design. His dream home is located in Miami, his favorite part about it is the view. It’s the original Carl Fisher estate and when making it his own, he kept it simple. He worked with an Italian architect to preserve the colonial style, but also modernize it.
Ugo Colombo is the developer behind Miami’s latest luxury condominium project, Brickell Flatiron. The 64-story luxury condominium tower is one of the tallest south of the Big Apple.
Ugo Colombo has been busy advancing his real estate development efforts throughout Miami. Recently, Ugo Colombo’s CMC Group, along with Valerio Morabito, bought the Bay Harbor Continental site. Though a decision has not been announced on what development to this coastal site will entail, it was previously approved for a seven-story upscale condominium tower by its former owner. Prior to this project, Ugo Colombo and Valerio Morabito worked to develop a building known as Beach House 8 in Mid-Beach. This condominium tower stands ten floors tall and was completed in 2014.
An exciting update on one of the CMC Group’s other projects is at the Miami’s Brickell Flatiron Residential Tower. The grandeur of this building is stunning, with 64 floors of elegance that will be one of the United States’ tallest residential towers. The collection of penthouses on floors 50 through 64 will provide residents a top-tier experience, from exquisite furniture, to lofty ceilings and unreal views–and there are still units available.
In addition to spectacular real estate development, Ugo Colombo owns The Collection, Miami’s premier luxury car dealership. It was recently announced that The Collection would be expanding their product offerings to include Land Rover, located nearby the original location in a deal negotiated by Ugo Colombo and the CMC Group. Ugo Colombo remains a prominent figure in Miami through his impact on the Miami skyline over the years. With no end in sight, residents of Miami and Coral Gables look forward to seeing more of the luxurious side Ugo Colombo has been able to bring out of Miami.