ZOM Florida and Invesco Real Estate Break Ground on Maizon at Brickell

ZOM Florida and Invesco Real Estate has broken ground on Maizon at Brickell after receiving a $52 million construction loan. Maizon at Brickell will be a Class A luxury high-rise which will feature 262 units. The project is walking distance fromMary Brickell Village, Brickell City Centre, Miami Avenue and Brickell Avenue.

“We are excited to partner with Invesco Real Estate on our first ever development venture together. Our project site has excellent pedestrian access to the numerous retail, entertainment, and employment locations available in Brickell, and is also convenient to downtown Miami via the multi-modal public transportation nearby. Maizon will bring a new level of quality, unit features and amenities to the burgeoning West Brickell neighborhood,” said Kyle Clayton, ZOM Florida’s Development Vice President. 

“We are very enthusiastic about the future of the Brickell neighborhood and the Miami market as a whole. Invesco Real Estate looks forward to working with ZOM to deliver a high quality product that will be distinctive in the market. We’re hopeful that the new relationship with ZOM will bring opportunities for future high quality investments benefiting our institutional clients,” said Evan Roth, Acquisitions Director at Invesco Real Estate.

The project will include an 8-story mid-rise and a 19-story high-rise connected at the parking structure. Units are expected to be delivered in Q1 of 2019. The developers originally purchased the property for $16 million. Maizon at Brickell will be designed by MSA Architects, Inc. and Moss is the general contractor on record. 

Brickell Financial Centre Gains Approval for Brickell World Plaza

The Brickell Financial Centre has come to an agreement with the Miami-Dade Water and Sewer to supply utilities their new Brickell World Plaza initiative. The project calls for a new 12-story project, followed by a second, 904' tower. The initial, 12-story project will include 7,340 SF of restaurant space, 7,809 SF of office space. The development is expected to expand the pedestrian activity generated by Brickell City Centre and Brickell Mary Village. 

Construction Update: Brickell Flatiron Passes 6th Level, On Track for Top-Off in Late 2018

The 64-story Brickell Flatiron from Ugo Colombo's CMC Group is starting to take form as downtown Brickell continues to evolve into a modern, waterfront metropolis. Construction on Brickell Flatiron is being headed up by Moss & Associates who have reached passed the building's 6th floor and expect to reach the 17th floor by the end of 2017. The 736 foot building is expected to top-off in late 2018 and features a distinct, iconic Flatiron shape that was designed by architect Luis Revuelta and interior architect Massimo Iosa Ghini of Italy’s Iosa Ghini Associati.

Brickell Flatiron features 549-unit luxury condominiums with units ranging from 1 to 5 bedrooms starting at $500,000 and ranging up to $15.5 million for penthouses. All units will be adorned with the finest finishes, including Italian-made custom cabinets, stainless steel appliances, Italian marble floors, high ceilings with recessed lighting, custom Italian doors, energy-efficient windows, and glass balcony railings. Brickell Flatiron's amenities include an 18th floor amenity deck with a resort style pool, 24-hour concierge, billiard and cigar room, wine cellar, valet, electric car charging stations and a 64th-floor rooftop that will feature a Sky Spa, Sky Pool and Sky Gym along with stunning 360 views of Biscayne Bay, Brickell, Downtown Miami, Coral Gables, etc. Read about CMC Group closing on their a $236 million construction loan for Brickell Flatiron in April. 

Ugo Colombo's CMC Group Closes $236 Million Construction Loan for Brickell Flatiron

Last Friday, Ugo Colombo’s CMC Group closed on a $236 million construction loan for Brickell Flatiron. The 64-story, 549-unit condo tower is currently under construction in Miami's Brickell Financial District and is scheduled to be completed in 2019. Brickell Flatiron is over 60% sold and are under hard contract, bringing the total sales volume to over $300 million. This follows large construction loans recently closed on by major developers such as the $225 million loan for the Zaha Hadid designed One Thousand Museum and $285 million loan for PARAMOUNT Miami Worldcenter. 

"CMC Group’s construction financing for Brickell Flatiron is a reflection of rising demand for well-located properties in Miami’s urban core, and Ugo Colombo's long track record of building the most sought-after condos in Miami – dating back to Bristol Tower, Santa Maria, Grovenor House and Epic Residences. Now more than ever before, today’s lenders are putting added emphasis on properties benefitting from a well-capitalized sponsor, and CMC Group has proven its ability to deliver many of Miami’s most valuable, landmark towers over the past 25 years,” said Jim Shindell, co-chair of the real estate group at Bilzin Sumberg and the attorney who represented CMC Group in securing the construction loan.

Cigar Room @ Brickell Flatrion

Brickell Flatiron is a 64-story, 549-unit luxury condominium tower from famed Miami developer Ugo Colombo and his CMC Group. It will be among the tallest residential towers in the United States when completed, rising 736 feet. The tower was designed by Luis Revuelta with an iconic flatiron shape with interiors by  Massimo Iosa Ghini of Italy’s Iosa Ghini Associati. Units range from 1 to 5 bedrooms starting at $500,000 and ranging up to $15.5 million for penthouses. All units will be adorned with the finest finishes, including Italian-made custom cabinets, stainless steel appliances, Italian marble floors, high ceilings with recessed lighting, custom Italian doors, energy-efficient windows, and glass balcony railings. Brickell Flatiron's amenities include an 18th floor amenity deck with a resort style pool, 24-hour concierge, billiard and cigar room, wine cellar, valet, electric car charging stations and a 64th-floor rooftop that will feature a Sky Spa, Sky Pool and Sky Gym along with stunning 360 views of Biscayne Bay, Brickell, Downtown Miami, Coral Gables, etc. 

Wine Bar @ Brickell Flatiron

Carbonell Penthouse on Brickell Key Sells for Full Asking Price of $2.75 Million

Penthouse 3703 at Carbonell has sold for the full asking price of $2.75 million on Brickell Key. The unit is 3 bedrooms, 3.5 bathrooms over 2,951 SF and another 1,750 SF of outdoor terrace space. It features 24 foot ceilings on the first floor and 12 foot ceilings on the second floor, Swarovski crystal wall paper, indoor/ outdoor surround sound system, 3 terraces, jacuzzi and views of Biscayne Bay and the Atlantic Ocean. David Siddons of EWM Intenational was the listing agent. The unit had las sold for $1.25 million in 2006.  

Construction Update: Panorama Tower Passes Four Seasons Miami, Becomes Tallest Building in Florida

Panorama Tower from Tibor Hollo's Florida East Coast Realty has passed The Four Seasons Miami as the tallest building in both Miami and in the state of Florida. Construction has passed the 85th floor. Top-off will be around 843 feet, 868 with the antenna. The Four Seasons Miami is 789 feet. Construction costs for Panorama Tower are expected to be around $800 million and it will have a total gross floor area around 2,600,000. The building includes 821 residential apartment units, a 208-room Hyatt Centric hotel, resort style pool deck, a pet daycare, wine room, private dining room, three movie theaters, electric car-charging stations, 50,000 square feet of high-end retail space, and 100,000 square feet of office/ medical space. Panorama Tower was designed by Moshe Cosicher and the interior design concept is by Zyscovich Architects.  

Swire Properties Announces One Brickell City Centre, Miami Office Space Market Gaining Steam

Despite all of the new development that Miami is currently experiencing, the rising population and the city's ability to attract new companies has put a strain on the supply of office space according to Guy Bradley, CEO of Swire Properties. Enter the next phase of Swire Properties's Brickell City Centre initiative, One Brickell City Centre, which is slated to break ground in 2018 and take advantage of an office market that is gaining steam. One Brickell City Centre will rise 1,049 ft, covering 80 floors, making it the tallest building in the Southeastern United States. The building is designed by Arquitectonica. Over 50% of the proposed project will be office space. On the same earnings call, Bradley touted the success of Brickell City Centre's retail portion, which is over 91% leased. This comes at a time when Swire Properties has seen condo sales in Brickell City Centre's Rise and Reach buildings come to a grinding halt, with just 4 units going under contract since mid-February. 

Brickell City Centre's Rise & Reach Sales Updates

Swire has announced their quarterly earnings, in them their Brickell City Centre sales update reflecting that 353 contracts have been signed at Brickell City Centre's residential building Reach and another 185 contracts in their other residential building Rise. Of that, 175 of Rise's units have closed. These numbers reflect weaker quarterly sales of just 4 units in Reach and 11 units in Rise during the time period. Both Reach and Rise have 390 units each with units in reach starting slightly cheaper starting at $595K as the lowest currently listed 1 bedroom resale. Closings in Reach began in April 2016 and closings in Rise began in September 2016. Swire did not provide any update on the second phase of the Brickell City Centre project, One Brickell City Centre.

"18" Residential Tower Coming to Brickell in Infamous "Burger King Strip-Mall" Lot

A project that will become known as "18" is coming to Brickell and will replace the strip mall with the Burger King located right next to Brickell Mary Village, Brickell City Centre, Brickell Heights and SLS Lux at 10 SW 8th Street. This last undeveloped lot has become dwarfed by the neighborhood around it and is in need of a desperate redevelopment. City Center Properties, LLC. is the developer on record for the proposed 78-story tower which will rise 950 feet. The first four levels will be 66,618 SF of retail before breaking to 392 residential units on the upper levels. The project will be designed by NBWW as the architect and plans are currently under review by Miami's Urban Development Review Board this month. The tower will bring even more residential units, traffic and retail to an area which has seen immense growth over the past 5 years.

La Centrale, Miami's First Italian Food Hall Coming to Brickell City Centre

La Centrale will be the new Italian Food Hall in Brickell City Centre, the first of its kind in Miami. The eatery will be three-stories tall and 38,000 SF with a "restaurant-forward concept." It will include Italian restaurants, cafes, an enoteca, culinary school and retail space. The first floor with be a "multi-sensory convivial vibe driven by true Italian hospitality." This will include coffee, bakery and homemade pastas. The second floor will feature original restaurants and a gelato shop. The third floor will feature interactive events including wine tastings, food pairings, the culinary school and food programs.