Flatiron Park in Brickell Sold
“ExMiami reports that Mallory Kauderer has sold BrickellFlatironPark to fellow developer Ugo Columbo for $21 million, and Columbo has already secured a $12.6 million mortgage on the property. The piece, which is (naturally for exMiami because they are anonymous insiders) unsourced, seems to leave open the possibility of the park itself being developed even though it is supposed to be preserved as a park.
Through a land swap deal with the City of Miami, Kauderer had promised to preserve the then-temporary park as a permanent park in exchange for another piece of land that would give him ownership of the entire block and make it easier for him to develop the northern portion of the property. (the park is only on the southern half) Since the park itself is supposedly now protected as a park under the terms of that deal, the presumption is this protection will continue under Columbo’s ownership, and that mortgage is just for the northern developable half. It is also reasonably safe to assume that the park itself is undevelopable now for anything over a few stories because it is just too close to other projects being built in the area (namely 1100 Millecento and The Bond On Brickell) and would spell bloody murder to just about everybody’s sight lines. There is no word yet, however, if this is actually the case. CouldMiami be losingBrickellFlatironPark?”
Given the prime bayfront location, and the ever-growing collection of preconstruction projects, it’s safe to say that whatever happens with this pristine piece of land, it will be big. As the web’s leading source on Brickell Real Estate, we at Brickell.com will certainly be keep you up to speed with any new developments. .
It goes without saying that Brickell is entering an unprecedented golden age. There will be many more high-end residential properties arriving that will redefine luxury living like never before. For more real estate updates, or information on how you can acquire property in this world-class community, call us at 305-379-0203.