Brickell Flatiron's Last Penthouse Available as Luxury Condo Sales Tick Up
Miami's high-end condo market is prospering even during shelter-in-place restrictions.
Brickell Flatiron, Miami’s tallest condominium, sold four penthouse units for a combined $31.6 million during the coronavirus shutdown, leaving one last developer-owned penthouse up for grabs.
The 62nd-floor penthouse is on the market for $9 million. It’s a two-story, 4,633-square-foot furnished unit with four bedrooms, terraces extending from each exterior room and expansive views of the city and Biscayne Bay. The sale takes the building to 98% in closed transactions.
The remaining penthouse unit was designed by Spanish architect Alexis Cogul Lleonart, founder and principal of Doo Architecture Inc., which has offices in Miami and Barcelona. The unit has an Italian-made kitchen and travertine tiles.
“The demand to purchase our last remaining developer-owned residence is coming from individuals both international and domestic,” said Vanessa Grout, president of CMC Real Estate.
The sale of the other four penthouses during the pandemic matches an emerging trend of strengthening sales in Miami’s high-end condo market. There’s speculation the demand is coming from wealthy buyers seeking spacious, comfortable refuges in a shelter-in-place era.
Penthouses in the 527-unit Brickell Flatiron cover the 62nd to 64th floors. The luxury homes are one-, two- and three-floor units ranging from 3,600 square feet to 7,900 square feet.
In late February about three weeks before Miami-Dade County imposed widespread restrictions, Chicago marine industry executive Jacob Vogel bought a three-story, 7,856-square-foot penthouse for $13.2 million. The six-bedroom unit purchased by the Boat Holdings CEO comes with a private pool.
On the heels of that purchase, Flatiron 6204 LLC bought a 2,726-square-foot, four-bedroom penthouse for $2.32 million in mid-March. Flatiron 6202 LLC, managed by Arturo Regalado in Coral Gables, bought a three-story, 5,453-square-foot penthouse for $11.2 million in mid-April. The two-story, 3,626-square-foot Unit 6205 with four bedrooms sold for $4.9 million.
Miami pioneer developer Ugo Colombo developed Brickell Flatiron through his CMC Group LLC at 1000 Brickell Plaza. The tower is 736 feet tall, making it the tallest condo south of New York.
Brickell Flatiron obtained its occupancy certificate in November, which is when it started closings.
Other high-profile condo purchases during the coronavirus pandemic include the $19.8 million purchase of a full-floor unit at One Thousand Museum in early April.
In mid-May, the Aston Martin Residences at 300 Biscayne Blvd. put four units under contact for a total of $8.75 million, the Miami Herald reported.
Brickell Flatiron amenities include a rooftop spa, pool and gym offering panoramic views and therapeutic services including a steam room, sauna and 6,300-square-foot gym. The building also has a resort-style lap pool, a children’s pool, private movie theater with stadium seating, concierge services, 24-hour valet, vehicle washing and electric car-charging stations.