Marine industry exec drops anchor at Brickell Flatiron

Jake Vogel and the upper penthouse 6201 at Brickell Flatiron (Credit: Facebook)

Jake Vogel and the upper penthouse 6201 at Brickell Flatiron (Credit: Facebook)

A Chicago marine executive closed on his $13.3 million penthouse in Brickell.

Jake Vogel, president of Polaris Boats, bought upper penthouse 6201 at Brickell Flatiron. The 64-story, 527-unit condo tower at 1000 Brickell Plaza was completed late last year. Ugo Colombo’s CMC Group developed the skyscraper.

Vogel plans to use the Miami condo as his second home, according to Cervera Real Estate. Karen Elmir of Cervera’s The Elmir Group represented Vogel along with Brett Firestone of Florida Capital Realty. Adriana Brito of Fortune Development Sales represented the developer.

The deal sets a record for condo sales in Brickell since 2007, the developer said. The all-time record is held by the $13.9 million sale of a five-bedroom unit at The Bristol Tower, another CMC project in Brickell.

The six-bedroom, 7,850-square-foot penthouse has six-and-a-half bathrooms, a den, family room, office and a rooftop deck with a pool, summer kitchen and changing rooms. The unit has ceilings of more than 20 feet tall and elevator access to all three levels.

The price breaks down to $1,694 per square foot.

In December, CMC Group paid off its $236 million construction loan for Brickell Flatiron. Colombo’s next project is likely Onda, an eight-story condo development he’s planning to build in Bay Harbor Islands with Valerio Morabito.

Architect Luis Revuelta designed the Brickell tower, and Massimo Iosa Ghini designed the interiors. The building features a 64th-floor amenities rooftop with a spa, pool and gym, a lap pool and children’s pool on the 18th floor, movie theater, billiards and cigar room, wine cellar, and electric car charging stations.

A London-based Japanese restaurant concept is expected to open in the ground-floor retail space. CMC sold 24,800 square feet of the ground floor and mezzanine level space to Avi Dishi and Haim Yehezkel for $22.5 million. The buyers, who closed on the space last year, are still pursuing a lawsuit against CMC that alleges the developer changed the design of the commercial space.

Baptist Health buys Collection Residences site in Coral Gables for $37M

Baptist Health buys Collection Residences site in Coral Gables for $37M

Property was the center of a contentious lawsuit between Ugo Colombo and Masoud Shojaee

Brian Keeley, CEO of Baptist Health South Florida, and the Collection Residences

Baptist Health South Florida just closed on a site in Coral Gables for $37 million that was at the center of a contentious lawsuit between developers Masoud Shojaee and Ugo Colombo.

Shojaee, a homebuilder, and Colombo, a developer and owner of the Collection luxury car dealership, had previously planned to jointly develop the Collection Residences on the 2.8-acre property at 250 Bird Road. They planned to build 128 condos along with retail space on the site until their partnership ended nearly three years ago and litigation pursued.

The Real Deal first reported in July that Baptist Health was under contract to buy the property, next to Colombo’s dealership and near the Shops at Merrick Park.

Avison Young’s Michael Fay, John Crotty, David Duckworth and Brian de la Fé brokered the deal.

Avison Young declined to comment on the sale and Baptist Health said it has not finalized its plans for the site.

In 2016, Shojaee’s Shoma Coral Gables filed suit against Ugo Colombo and his companies, alleging breach of contract and other charges. The suit sought between $4 million and $5 million in damages. The lawsuit alleged that Colombo sabotaged the project, “causing substantial damages to Shoma.” Colombo denied the charges. After more than two years, a Miami-Dade County judge dismissed most of the charges in August 2018.

Earlier this month, Safe Harbor Equity filed a $16.2 million foreclosure lawsuit against the joint venture that owned the Collection Residences over nonpayments. A judge recently dismissed the suit with prejudice, according to Ralph Serrano, managing director of the Miami-based lender. Now that the sale has closed, Safe Harbor Equity will get paid back the $16.2 million.

Records show Colombo and Shojaee’s joint venture paid $27 million for the property in 2013.

Baptist has been expanding throughout South Florida. It recently opened a four-story, 60,000-square-foot outpatient facility at Crescent Heights’ mixed-use development at 709 Alton Road in Miami Beach. Earlier this month, Baptist acquired a former Toys “R” Us in Royal Palm Beach for $15.8 million.

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