Category Archives: Real Estate

The Latest Trends of Miami Real Estate

In the early 1990s, Ugo Colombo saw the investment opportunity in Miami real estate, and now it is starting to reach its full potential. According to Norada Real Estate Investment, Miami real estate appreciated 57.70% over the last ten years, which is an average annual home appreciation rate of 4.66%, putting Miami in the top 10% nationally for real estate appreciation. Despite the downward motion nationwide in the housing market, Miami real estate appreciation rates are strong and have continued to appreciate in value faster than most places. The real estate market in Miami is doing well and has seen a dramatic increase in office locations.

Offices are Taking Over

Office development in Miami has hit its highest level since 2009, which is partially caused by the relocation of tenants from high-tax states. According to The Real Deal, 1.9 million square feet of office space is expected to be completed in the next two years. As of 2011, only 500,000 square feet of office space was expected to be completed, as opposed to the nearly 2 million square feet that is now expected. On top of the relocation of tenants from high-tax states causing this change, it is thought that corporations wanting to expand their Latin American business could also be another reason for this shift.

If you are thinking of investing in Miami real estate, especially in office space, it seems as though the statistics and numbers are on your side. Miami continues to become a “mini-Manhattan” and is seen as a good investment opportunity for the future.

The Key to Success in Real Estate Development

Some may think that the key to success in the real estate development industry is to take on as many projects as possible and hope for the best. However, expertise, attention to detail and planning are the true key elements to being successful.

Plan, Plan, Plan

CMC Group Founder, Ugo Colombo, was recently named a Power Leader in Real Estate by the South Florida Business Journal. He is an alumnus of the University of Miami with a degree in business administration. When asked what his key to a successful career is, his answer was simple. He only takes on one or two projects at a time and pays extreme attention to detail to each one.

He added that planning in the beginning stages of a project is crucial to the project’s success. It’s very similar to racing, if you aren’t prepared for the turn seconds before, there may be big consequences to pay. The same goes for real estate, if enough planning isn’t done before the project breaks ground, the price will be paid during or at the end of the project.

International Luxury Living in Miami

Forty years ago, Miami had a totally different look and feel than it does today. When you look at Miami now, you will see a beautifully diverse city with unique buildings and people. This diversity can be explained by the great value that Miami real estate offers on a global scale. Locals find the pricing of Miami real estate to be incredibly expensive, but foreigners see low prices for luxurious living.

Global Influence

Ugo Colombo brought his Italian architecture and design to his luxurious buildings in Miami. However, Italy is not the only country that will be seen and felt in Miami’s culture. We may see a number of unique architectural designs that are influenced by a number of different cultures as more foreigners dive into the inexpensive Miami real estate market. Although Miami real estate may seem expensive to locals, according to the Worldwide Cost of Living Report by the Economist, Miami is ranked at number 71 in the list of most expensive cities. Singapore, Paris, and Hong Kong were all tied for first place. These numbers indicate that inexpensive luxury living in Miami will bring in more foreigners who are eager to get into this market while the prices are so low. With more and more foreigners entering the city, Miami will become an even bigger melting pot and will see cultural benefits from all the new and unique backgrounds.

Sources:

https://www.miamiherald.com/news/business/real-estate-news/article230496564.html

https://www.eiu.com/topic/worldwide-cost-of-living

CMC Group’s Ugo Colombo and Architect Luis Revuelta

Since this dynamic partnership began in 1988, Ugo Colombo and Luis Revuelta have been unstoppable in the world of Miami real estate. Their first buildings, the Bristol Tower and the Santa Maria, were completed in the early 1990s. Since then, they have helped shape Miami’s skyline and continue on their journey today with their latest project coming to completion this summer. They focus on the influence of Italian culture in their buildings, but that does not mean all of their projects are alike. They adapt to the demands of the market at the time, and are always inspired by the ability to create a functional space that the inhabitants love to live in.

Design with Luxury in Mind

Ugo Colombo starts from the inside when planning a building. His main goal is to create a space that is enjoyable. His attention to detail and hands-on management produce a space that ensures functionality. Luis Revuelta likes to see movement in the design to create a “kinetic feel.” Unlike the stable, concrete structure on the exterior, his interior design creates flow and motion from one space to the next. With both of these masterminds working together, Miami has become a beautiful destination that locals and tourists love spending time in.

Italian-Influenced Architecture is Introduced to Miami

Downtown Miami is known for being fun, vibrant, and full of life. However, nearly 30 years ago, downtown Miami was not the youthful and luxurious place we now know and love. It all started with a vision by real estate developer Ugo Colombo to invest in this “blank canvas” when he began the process of creating an entirely new environment. Today, we see more than 150 skyscrapers in downtown Miami and the city’s growth continues.

The Brickell Flatiron

Ugo Colombo and designer Luis Revuelta plan to have the new Brickell Flatiron building completed this summer.Great time and effort have been put into every detail of this luxurious building and they are not about to rush perfection. It is located at the heart of the city so that those who live in the building can step out their door and right into the action of the city. It will have first-class amenities, beautiful imported finishes, and functional living areas.

Beautiful Imported Finishes

Ugo Colombo personally hand-picked all the finishes in the Brickell Flatiron. These finishes include Italian marble, Venetian stucco, and the highest quality glass that exists on the market. When you walk into the Brickell Flatiron, you will feel the luxury and elegance of Italy without leaving Miami.

The Scoop on Miami Real Estate

The Miami-Dade County real estate market continues to grow at a rapid pace. Billions of dollars are being put towards the development of residential communities and commercial buildings that are outline the Miami skyline. In fact, Miami-Dade County is considered one of the hottest markets in the country right now and the demand for quality developers is high.

Exciting Real Estate Projects

Real estate projects are coming to completion and new developers are breaking ground every day. Urban planning has been a driving force in many of Miami’s latest buildings. Sitting high on the list is the push towards the improvement of public transportation to help reduce the amount of congestion caused by vehicles. Exciting projects include the Miami River Walk, Pier 19 Residences & Marina, and the Underline.

CMC Group’s Contribution

A significant contribution to Miami comes from developer Ugo Colombo’s premier luxury real estate company, CMC Group. Their latest project, Brickell Flatiron, stands to be one of the tallest luxury condominium towers south of the Big Apple and is projected to be completed this summer. Giving residents of Miami-Dade County the option to walk out of their condo to shops, restaurants, parks and even work without stepping inside their car is a goal that fuels Colombo’s projects, along with luxury living.

Miami has become a cultural hub and has what it takes to attract both domestic and foreign buyers. The lifestyle in Miami is often compared to that of New York City, but anyone who lives there can attest to its unique environment and lifestyle. If one thing is for sure, the future of Miami-Dade County is promising for both developers and residents.

The Future is Now in Miami Real Estate

Miami is one of the best cities to live, work and play in. The city offers promising tax advantages, a lifestyle like no other, beautiful weather, beaches and so much more. For developers, the market is promising. Location is key to a successful project and Miami offers just that.

Miami Real Estate

The younger generations are influencing the urbanization of cities like Miami, L.A., and New York. Living downtown is perfect for millennials who do not have vehicles and prefer using rideshare apps or walking to their destination. For those moving to Miami, they get the best of both worlds between the Miami lifestyle and the convenience of living in a city. Residencies are filling up in downtown projects quicker than they can build new ones.

Ugo on Luxury Living

According to Ugo Colombo, luxury is subjective and doesn’t necessarily have to translate to expensive. Luxury should bring comfort to a person and that can mean many different things in terms of style and design. His dream home is located in Miami, his favorite part about it is the view. It’s the original Carl Fisher estate and when making it his own, he kept it simple. He worked with an Italian architect to preserve the colonial style, but also modernize it.

Ugo Colombo is the developer behind Miami’s latest luxury condominium project, Brickell Flatiron. The 64-story luxury condominium tower is one of the tallest south of the Big Apple.

Ugo Colombo’s Miami Real Estate

Ugo Colombo has been busy advancing his real estate development efforts throughout Miami. Recently, Ugo Colombo’s CMC Group, along with Valerio Morabito, bought the Bay Harbor Continental site. Though a decision has not been announced on what development to this coastal site will entail, it was previously approved for a seven-story upscale condominium tower by its former owner. Prior to this project, Ugo Colombo and Valerio Morabito worked to develop a building known as Beach House 8 in Mid-Beach. This condominium tower stands ten floors tall and was completed in 2014.

An exciting update on one of the CMC Group’s other projects is at the Miami’s Brickell Flatiron Residential Tower. The grandeur of this building is stunning, with 64 floors of elegance that will be one of the United States’ tallest residential towers. The collection of penthouses on floors 50 through 64 will provide residents a top-tier experience, from exquisite furniture, to lofty ceilings and unreal views–and there are still units available.

In addition to spectacular real estate development, Ugo Colombo owns The Collection, Miami’s premier luxury car dealership. It was recently announced that The Collection would be expanding their product offerings to include Land Rover, located nearby the original location in a deal negotiated by Ugo Colombo and the CMC Group. Ugo Colombo remains a prominent figure in Miami through his impact on the Miami skyline over the years. With no end in sight, residents of Miami and Coral Gables look forward to seeing more of the luxurious side Ugo Colombo has been able to bring out of Miami.

New Miami Real Estate Study: Where to Invest

The polling firm Bendixen & Amandi International and the Miami Herald conducted a survey in June of 2017 to evaluate the current state of the Miami Real Estate market. The survey was focused on the mid-range market, so luxury real estate agents’ perspectives were less of a focus–an interesting move, being that the luxury market is bustling in Miami.

The survey was based in the idea that the best investments in Miami real estate lie in appreciating property values. They found that the hottest neighborhood in Miami is Miami Beach. Specifically, Miami Beach is the best place to purchase an apartment, and the best neighborhood for young professionals.

If you are in the market for a single-family home, the research suggests that the best investment would be found in the Coral Gables area. Another notable mention is the Brickell area, which a survey respondent (a real estate agent or broker) said was “one of the hottest areas for millennials”.

Interestingly, the most undervalued neighborhood is Homestead, which is known for gated communities, new restaurants and shopping, as well as the Homestead Hospital. They believe the next emerging market, with a good ROI over the next five years, is Little Havana.

Overall, the survey revealed that 36% of respondents believe real estate values in Miami-Dade County will appreciate, and 73% believe that now is the time to own, rather than rent.

Ugo Colombo has helped shape the Miami real estate market as a commercial and residential developer. Starting out in the Brickell community, Ugo also had a huge stake in redefining the market in South beach by rejuvenating the Waldorf and Casa Grande.
To read more about this study, visit The Miami Herald.

Ugo Colombo speaks at the ULI Southeast Florida/Caribbean Miami Condo and Community Development Symposium

In November 2016, Ugo Colombo and other industry veterans took part in a 3-panel event at the Urban Land Institute’s Southeast Florida/Caribbean Miami Condo and Community Development Symposium, held at the Brickell City Centre. Ugo Colombo has been credited with igniting the Brickell area’s condo boom.

According to the ULI, “Most agree that Miami offers a lot of advantages to both developers and buyers alike. A favorable tax climate, a surplus of underdeveloped land and a sexy, high-end image as a global city attracts plenty of luxury consumers to its shores.”

With new condos coming to market soon, it’s important for developers to differentiate their properties from others. Brickell Flatiron, the new development from Ugo Colombo and CMC Group, was designed by Luis Revuelta to be a tower of soaring glass, enhancing the skyline with persuasive curves, while the interior offers a renaissance revival that contrasts the powerful structure.

Inside this sleek high-rise, Italian interior architect Massimo Iosa Ghini combines sleek glass walls and curved lines to create a sense of movement – welcoming residents upon arrival with warmth, light, and precious stone. Exquisite design paired with fine art creates a masterpiece gallery for residents to enjoy.

Learn more about Brickell Flatiron and all of the features and amenities at http://brickellflatiron.com/

Read more about the Miami real estate market at http://urbanland.uli.org/development-business/access-public-spaces-waterfront-locations-driving-healthy-luxury-condo-market-south-florida/