Survival of the fittest
SoFla’s natural selection may kill off several more development projects this cycle
April 07, 2016 11:15AMBy Erik Bojnansky
From the April magazine: Completing Brickell Flatiron has become Ugo Colombo’s main mission. The Italian developer, who has been involved in South Florida real estate since 1983, intends to not only sell all 548 residences in his forthcoming 64-story luxury condominium tower, but to sell them without compromise. So if a buyer wants one of Brickell Flatiron’s future residences, Colombo told The Real Deal that he or she will pay full price.
“I have never discounted one penny on one unit,” he insisted.
On March 16, Colombo officially commenced construction on Brickell Flatiron, where residential units are being marketed for between $500,000 and $2 million. Colombo claims the project is already 50 percent sold. However, he began selling residences at Brickell Flatiron two years ago, when the South Florida real estate market was still riding high. [more]
Source: The Real Deal