Brickell Flatiron’s Recent Topping Off Signals Near End of Project and Area’s Development Boom

MIAMI—The Brickell Flatiron, a 64-story, 527-unit condominium built by Ugo Colombo’s CMC Group topped out earlier this year with 87% of the units sold in a high-rise that will not be delivered until this summer.

The project’s near successful completion also marks the end of sorts for a building boom in the Brickell Financial District that has lasted 25 years, fueled by significant population growth and the area’s growing reputation as a haven for luxury living, premium dining and retail, and international tourism and business.

The boom truly dates back to CMC Group’s construction of its Bristol Tower in 1994 and the Santa Maria Tower two years later. The neighborhood’s residential population has more than doubled since 2000 and grown by 40% since 2010, according to a 2018 demographics study by the Miami Downtown Development Authority.

In the past quarter century, Downtown Brickell has seen more than 150 towers rise from the ground and its population rise to more than 92,000 residents. With the market consistently commanding some of the highest prices in South Florida, the district’s population is expected to increase to more than 100,000 in the next three years.

It seems only fitting that as one of the last cranes standing in Brickell comes down, the topping off of Brickell Flatiron has signaled the near completion of the 736-foot-high tower that will stand as the tallest condominium south of New York City.

“Ever since we delivered Bristol and Santa Maria, and later EPIC, Brickell has been emerging as one of the most desirable residential neighborhoods in the world,” says CMC Group’s Colombo. “Today, Brickell is a cosmopolitan district that embodies Miami’s unique breed of tropical urban living. Our team at CMC Group ushered in that brand 25 years ago, and we’re perfecting it with Brickell Flatiron.”

CMC Group officials note that Brickell Flatiron has attracted a diverse mix of residents since launching in 2015, including a significant percentage of domestic buyers. While the tower has enjoyed steady sales activity among buyers from Mexico, Argentina, Italy, Venezuela and Colombia, US buyers have accounted for more than half of all unit sales to date and that domestic buyer popularity is growing. In the second half of 2018, 70% of the building’s buyers came from US markets, they note.

Brickell Flatiron’s crown jewel is a Sky Spa and pool deck perched 64-stories over downtown Miami that will offer 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—has been a unique selling point that has proven successful at CMC Group’s past developments, most notably Santa Maria Tower.

The tower is designed by architect Luis Revuelta, who was behind many of Miami’s iconic high-rises, including Bristol Tower and Santa Maria Tower. Colombo hired master Italian designer Massimo Iosa Ghini to create spaces throughout the building that are adorned with premium materials ranging from Milldue cabinets and hand-cut Italian marble floors, to custom kitchens by Snaidero and professional-grade Miele appliances.

“We’ve assembled a design dream team to bring our vision for Brickell Flatiron to life,” says Colombo. “Luis and Massimo share our firm’s commitment to timeless elegance, which has always been a guiding force behind our developments. Brickell Flatiron residents will feel at-home from the moment they enter the building, and we’ve taken every possible step to ensure this building is among Miami’s most desirable addresses 10, 20, even 30 years down the road.”

Units range from one-to-five bedrooms, with penthouses and duplexes available. Each unit comes equipped with the finest materials from around the world, soaring ceilings with recessed lighting, energy-efficient windows and elliptical glass balconies.

Amenities at the tower will include a concierge and 24-hour valet service, on-site vehicle washing and detailing, electric charging stations for cars, private storage, a private theater with stadium seating, a billiard and cigar room, a wine cellar, a children’s playroom and an outdoor lap pool and children’s pool. Residents will enjoy access to a host of therapeutic services, including private steam, sauna and locker facilities, and a 6,300-square foot fitness center with Pilates, yoga and aerobics studios.