Brickell Flatiron cuts ties with Cervera, in talks with Fortune: sources

64-story, 549-unit condo tower is about 70% sold

Miami /
Aug.August 28, 2017 06:00 PM

Cervera Real Estate is out at Ugo Colombo’s Brickell Flatiron, The Real Deal has learned.

Cervera is no longer handling the exclusive sales and marketing of the 64-story, 549-unit condo tower at 1001 South Miami Avenue, which is about 70 percent sold, a spokesperson for the developer confirmed. Fortune International Group is in talks with the developer to take over sales, sources told TRD.

Colombo’s CMC Group would not comment on Cervera’s replacement, and Cervera CEO Veronica Cervera Goeseke could not immediately be reached for comment.

The move marks Cervera’s second lost development marketing contract this year. In March, developer OKO Group replaced Cervera with Fortune as its exclusive sales and marketing firm for Missoni Baia in Edgewater. Cervera recently wrapped up sales of the Bond on Brickell, which sold out in April for a combined $183 million. The firm was also hired earlier this year to handles sales of the Aston Martin Residences in downtown Miami.

Fortune’s portfolio of new development sales in Brickell includes SLS Lux and Brickell Heights, the latter of which was delivered earlier this year and sold out for about $500 million. Edgardo Defortuna, president and CEO of the company, could not be reached for comment.

Brickell Flatiron, which was designed by architect Luis Revuelta, will be delivered in June 2019. Construction is on the 16th floor, the CMC spokesperson said. In March, the developer closed on $236 million in construction financing, including $138.3 million from Bank of the Ozarks, and has sold 10 percent of its units since then.

Prices at Brickell Flatiron range from about $500,000 to $2.5 million, and up to $15.5 million for penthouses. Units will range from one to five bedrooms and will go up to 6,246 square feet.

At 736 feet, the building will be among the tallest towers in Miami, behind Panorama Tower, which will be 830 feet tall when it opens later this year. Brickell Flatiron’s amenities include a rooftop spa, pool and gym, a theater, billiard and cigar room, a wine cellar and a 24-hour concierge and parking valet.

The condo tower will also feature interiors by Massimo Iosa Ghini of Italy’s Iosa Ghini Associati.


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