Miami Luxury Real Estate Stays Hot During a Pandemic
COVID-19 has made many things uncertain, but one thing that remains clear is the increasing demand for luxury real estate in Miami. Even amidst a pandemic, the Brickell Flatiron (Ugo Colombo’s latest project), closed on a whopping $31.62 million in sales since March. As the US economy continues to drop, Miami’s luxury real estate continues to rise, and the Brickell Flatiron sales are proof of this fact.
Details on the Brickell Flatiron Sales
The Brickell Flatiron project first broke ground in early 2017 and finally opened late 2019. Since its opening the 64-story, 527-unit has sold 98 percent of its units which is equivalent to 516 units. In the last three months, four of the five penthouse units were sold and four more have gone under contract. The four units that have gone under contract since March have all gone to contract at asking price. The smallest unit of the four units under contract is a 900 square-foot one-bedroom, one-bathroom that went for $450,000. The largest is a 2,200 square-foot three-bedroom, three-and-a-half-bathroom condo that went for $1.88 million. There is one penthouse that remains available at the Brickell Flatiron and the asking price is $9 million. If the past three months are any indicator of what the future holds for Miami luxury real estate sales, that penthouse won’t be available for long!
Learn more about Italian-born real estate developer Ugo Colombo, President of CMC Group.