search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loan
South Florida

Ugo Colombo buys Brickell Flatiron Park for $21M

Ugo Colombo and Brickell Flatiron Park at 1100 Southeast First Avenue (Credit: Crespogram Report)
Ugo Colombo and Brickell Flatiron Park at 1100 Southeast First Avenue (Credit: Crespogram Report)

Condo developer Ugo Colombo now owns Miami’s Brickell Flatiron Park, paying $21 million to fellow developer Mallory Kauderer.

Sign Up for the undefined Newsletter

Colombo’s CMC Group financed the buy with a $12.6 million mortgage from Suntrust Bank; the sale might be just for the northern half of the property, at 1100 Southeast First Avenue, that the city had said can be developed. When the Raymond Jungles-designed park opened a year ago, Kauderer struck a deal with Miami officials to make the temporary park  permanent in exchange for extra land that would give him ownership of the entire block. Kauderer’s goal was to develop the northern part of the park.

Before the downturn, architect Enrique Norten began the design on a 70-story tower; the project was eventually scrapped. [ExMiami] — Mark Maurer

Tags
BrickellUgo Colombo