Tag Archives: Miami Real Estate

27 Sep

How COVID-19 Will Shape the Real Estate Development of the Future

Life as we know it will change in many ways due to the COVID-19 pandemic, but one change that many people are not focused on is how this will affect the future of real estate development. In the matter of months, the wants and needs of real estate buyers have taken a sudden shift. What once seemed important and practical to buyers has now changed to adapt to our new normal.

What Will the Future of Real Estate Development Hold?

According to Forbes, the real estate development buzzwords are quickly morphing into new words like “privacy, virtual, distanced, and mine.” There has been a universal agreement amongst real estate developers that health and wellness will now be at the top of buyers’ wish lists. This may include things like air purification, aromatherapy, cleaning protocols, etc. as a necessity for all buyers instead of those only with compromised immune systems or other special needs.

However, there are others who believe that it may been unwise to overcorrect and completely re-evaluate the real estate market for needs that may only last three to twelve months. It is wise to focus on the trends that are certain and not just those resulting from the coronavirus. If a vaccine is found, the real estate development world could move in an entirely different direction. Ultimately, it is important to always stay up to date on the latest trends in the real estate world and adapt accordingly, but maybe not too quickly.

Learn more about Italian-born real estate developer Ugo Colombo, CMC Group President.

27 Jul

And Then There Was One: The 62nd-floor Penthouse

The future looks bright for the Miami luxury real estate market despite the economic decline in the US due to the COVID-19 pandemic. The Brickell Flatiron, the latest project by luxury real estate developer Ugo Colombo, had $31.62 million in real estate sales since March. In fact, since the opening of this building, 98 percent of the units have been sold. However, there is one beauty that since remains unclaimed at the Brickell Flatiron and it can be found on the 62nd floor.

Penthouse Details

The last remaining penthouse at the Brickell Flatiron is on the market for $9 million. This unit is a two-story, 4,663-square-foot beauty. It comes fully furnished with four bedrooms and five and a half bathrooms. The penthouse features terraces that extended from each exterior room and gorgeous, vast views of Biscayne Bay and downtown Miami. Created by Spanish architect Alexis Cogul Lleonart, this penthouse was beautifully designed to compliment the gorgeous views this unit offers. With vibrant color choices, contrasting materials, and fluid lines, this unique design is sure to capture the attention of all who enter.

Learn more about Italian-born real estate developer Ugo Colombo, CMC Group President.

04 Jun

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.

12 Feb

Abstract Art: The New Seller of Luxury Home Real Estate in Miami

Considering how much money one spends on a home, they may want to design it in a way that makes it stand out. Some might paint their front door a fun color or plant an exquisite garden that captures the attention of anyone who passes by, but there is a new, bold design element that people are starting to use in Miami, and that is abstract art. More and more people are starting to incorporate abstract pieces of art inside and outside of their Miami homes, and we are exploring why this is.

Why Miami?

Miami is home to one of the most distinguished art festivals, Art Basel, that brings in artists from all over the world. This art festival has a dramatic effect on the culture of the city, and it can be seen in the luxury real estate market. The showcased abstract art that is appearing outside of more and more luxury homes gives potential buyers even more reason to purchase real estate in the area. These fantastic pieces not only look amazing outside of the home, they also are a benefit to the real estate owner in that they add so much more value to it. When perspective buyers are touring the homes, they can even see art inside hanging on the walls to get a feel of how to showcase their own art in the home once purchased.

Ugo Colombo, CMC Group President knew of the importance of art in the Miami community when designing the Brickell Flatiron with Luis Revuelta. The curved lines of the interior and exterior of the building create movement that draws your eye across the space. The design choices made by Ugo and Luis have created a sense of warmth and welcoming to those who now reside there.

Art Shows

Another strategy that real estate companies have taken to with much success is holding art shows inside of the homes that are for sale. This turns out to be a much different spin on the traditional open house and it brings in people who may not even be looking for a home as perspective buyers. Having the art in the home makes the visit more memorable and allows them to experience the house on a more enhanced level. Miami is one of the biggest cities in the country for art, and where there is art, there are collectors who need a place to put their art.

09 Jan

Real Estate in Miami: Recipe for Success

Real Estate is an instrumental part of the growth of the economy, especially in Miami. Ugo Colombo foresaw this evolving era when he began investing in Miami real estate in the 1990’s. Since the 1990’s, the population and real estate opportunities in Miami have exploded, and Ugo Colombo continues to take advantage of these opportunities today.

Why the Miami Real Estate Market Has Grown

According to an article written in Forbes, “the sunshine state continues to be a popular place to call home.” Since the housing market is booming, many people are purchasing their forever homes in Miami, Florida. The luxury of owning beachfront homes is driving more and more residents to the Sunshine state, specifically Miami. Since Florida does not have state income taxes and the economy is thriving, many people feel a direct, positive influence on their financial situation after moving there. This international hotspot is home to world-leading events, and to those who crave luxury, the beginning of their best life. The nightlife and gorgeous scenic beaches make for two convincing reasons to invest in real estate properties. In addition to the high-end living conditions in Miami, incredible architectural properties are also on the market for those interested in a historical living space. Miami is the epitome of elegance and extravagant living and that is why investing in properties is key for those looking to achieve a lavish life.

Learn more about Italian-born real estate developer Ugo Colombo, CMC Group President.

02 Jan

The Influx of Miami Residents

Many people compare living in Miami to a dream and they’re not wrong. Miami’s climate, entertainment opportunities, and atmosphere make it a gold mine for residents. Miami also offers no income, inheritance, or estate taxes. On top of these benefits, Miami has several other amenities that are very hard to turn down when looking to invest in real estate.

The Gold Mine of Real Estate

Ugo Colombo saw these instrumental strengths of Miami back in the early 1990’s when he began investing in real estate. According to All American Moves, “most people love Florida and would move to Miami without a second thought.” Often referred to as the “Magic City”, Miami is attractive to all demographics due to its contagious, lavish culture, spectacular beaches, and wide assortment of entertainment and it is arguably one of the best nightlife scenes in the United States. The glitz and the glamour are everything it is made out to be and that is why people hone in on this luxurious Miami lifestyle. In general, Miami is not just seen as a good investment opportunity, but it is seen as a location where people can live a good life, and this may be why there has been a rise in residents. What’s stopping you from sipping freshly squeezed orange juice in the Sunshine state? Your dream home could be waiting for you in Miami.

Learn more about Italian-born real estate developer Ugo Colombo, President of CMC Group.

04 Dec

The Brickell Flatiron is Officially Open

Ugo Colombo’s 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.

Successful Outcomes

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.

20 Nov

Miami Real Estate Investment on the Rise

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.

03 Oct

The Latest Trends of Miami Real Estate

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 future.

20 Aug

The Key to Success in Real Estate Development

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.

Plan, Plan, Plan

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.