A penthouse in Brickell Flatiron sold for $11.2M, despite the pandemic
Even in the age of COVID-19, multi-million dollar sales continue. This time, the purchase was in downtown, where an unnamed buyer dropped $11.2 million for a penthouse in Brickell Flatiron.
A buyer, registered under Flatiron 6202 LLC, bought one of the five upper penthouses at 1000 Brickell Plaza. The transaction closed last Wednesday. The three-story penthouse on the 62nd floor spans 5,453 square feet and includes four bedrooms, six bathrooms and a half bath, according to source familiar with the sale.
The 64-story building has a total of 527 units; according to developer Ugo Colombo of CMC Group, 98% of the units are sold. Colombo declined to comment on details of the penthouse sale.
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The sale is a positive sign for the luxury market, said Jon Mann, a Realtor with the Jills Zeder Group at Coldwell Banker Realty. “It is an indicator that the ultra-wealthy still consider Miami real estate a good place to spend their money,” he wrote via email.
But coronavirus could change that, Mann wrote. “Pre-Covid 19, brand new trophy properties were highly sought after. Post-Covid 19, there may be a pull back in luxury condo purchases, especially from places like New York City, as people prioritize social distancing and realize that they desire more space. When we get back to showing homes, we anticipate a shift in demand to luxury single-family homes.”
The unit sold for $2,054 per square foot, more than the most recent comparable sale. A 9,910-square foot penthouse in the Zaha Hadid-designed building One Thousand Museum recently sold for $13.8 million, or $1,393 per square foot.
Brickell Flatiron’s amenities including a spa, pool and gym — with Pilates, yoga and aerobics studios — on the rooftop. The building also has a movie theater, cigar room and wine cellar. All are now closed because of social distancing rules.
This story was originally published April 17, 2020 at 7:00 AM.
