The Real Deal Miami

Ugo Colombo boosts mortgage on North Bay Road estate

22,175 sf home includes 12 bedrooms, 19 bathrooms and three half-baths

August 19, 2015 10:35AM
By Katherine Kallergis

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5020 North Bay Road and Ugo Colombo

Aerial view of 5020 North Bay Road and Ugo Colombo

Ugo Colombo and his wife Sara Colombo boosted their mortgage to $25 million last week, according to Miami-Dade County records. 

The financing covers their 1.57-acre estate on North Bay Road in Miami Beach. Mortgage documents show that Colombo took out $18.5 million last week. The 1927-mansion was redeveloped by Todd Glaser and redesigned by Chad Oppenheim, according to Glaser’s website. The developer paid $16.8 million for the Carl Fisher estate in 2005.

The 22,175-square-foot home includes a whopping 12 bedrooms, 19 bathrooms and three half-baths. It also features a marble patio, pool, dock and elevator, according to Miami-Dade property records.

JP Morgan Chase was the lender. The original mortgage was for $20 million in 2012, with a remaining $6.49 million in financing today, records show.

Colombo’s CMC Group listed the 0.8-acre assemblage at 830 Brickell up for sale earlier this year. CMC had plans for a Brickell Flatiron II on the property.