Survival of the fittest

Ugo Colombo
From the April magazine: Completing Brickell Flatiron has become Ugo Colombo’s main mission. The Italian developer, who has been involved in South Florida real estate since 1983, intends to not only sell all 548 residences in his forthcoming 64-story luxury condominium tower, but to sell them without compromise. So if a buyer wants one of Brickell Flatiron’s future residences, Colombo told The Real Deal that he or she will pay full price.
“I have never discounted one penny on one unit,” he insisted.
On March 16, Colombo officially commenced construction on Brickell Flatiron, where residential units are being marketed for between $500,000 and $2 million. Colombo claims the project is already 50 percent sold. However, he began selling residences at Brickell Flatiron two years ago, when the South Florida real estate market was still riding high. [more]

Source: The Real Deal Miami

Behind Jeff Greene’s towering plan to reinvent West Palm Beach

Jeff Greene
From the April magazine: The big short is getting a lot taller. Billionaire real estate mogul Jeff Greene made hundreds of millions of dollars betting against subprime mortgage-backed securities before the last financial crisis hit. He now owns more than 75 acres of prime land in West Palm Beach — a city poised for major growth — with plans to build several new high-rises there.
“People talk about disruption in various industries, like what Amazon is doing in retail,” the 61-year-old investor and developer told The Real Deal from his desk in a former post office on North County Road. “I think it’s very easy to disrupt West Palm Beach.”
Greene is now working to bring thousands of residential units, a hotel, a 30-story office building, a raft of retail space and even a new school to the South Florida city with more than 100,000 residents and plenty of affluence in and around it. [More]

Source: The Real Deal Miami