Ugo Colombo boosts mortgage on North Bay Road estate

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.

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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.