The Real Deal Miami

ISG takes over marketing and sales at Crimson

The mckafka duo hope to tap ISG's Latin American broker network to sell more units

September 19, 2013 02:13PM

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ISG World principals Philip Spigelman (left) and Craig Studnicky

ISG World principals Philip Spigelman and Craig Studnicky

UPDATED, 7:00 p.m., Sept. 19: The Harvard Business School graduate duo Stephan Gietl and Fernando Levy Hara, who form the mckafka development group, have replaced Baker CVR LLC with ISG World to sell the remaining units in their first project together, the aptly named Crimson.

The 90-unit, LEED silver tower planned for Edgewater is selling one- to three-bedroom units, ranging in size from 780 to 1,600 square feet, and including six penthouses.

The amenities deck, referring to in marketing materials as the C-Club, includes a pool, a landscaped promenade, hot tub, mini-theater, cyber café and zen room.

Mckafka initially hired Condo Vultures consultant Peter Zalewski as an advisor on pricing and tapped Baker CVR LLC, a joint venture between Toronto-based Baker Realty and Condo Vultures Realty, owned and managed by Zalewski’s wife, Jenny Huertas, as the project’s exclusive brokerage.

“We went through every option, every detail, and Peter would tell us how that didn’t work at so-and-so building, and that’s literally how we designed the Crimson,” Levy Hara said during a presentation in June.

Mckafka switched horses to ISG World to improve its targeting of Latin American buyers, according to ISG spokesperson Rachel Levy.

“After [Baker] CVR successfully sold 30 percent of the building, mckafka development group thought it was in their best interest to work with a company with an extensive broker database throughout Latin America as a lot of the buyers in this region are from there,” Levy told The Real Deal in an email.

Barbara Lawlor, the president of Baker Realty, said the joint venture corporation continues to have a relationship with mckafka. “Our record stands for itself,” Lawlor said in an email to TRD. — Emily Schmall

CORRECTION: Mckafka initially tapped Baker CVR LLC, a joint venture corporation created specifically to handle the Crimson listing, and not Condo Vultures Realty, as previously reported.

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