ExMiami reports that Mallory Kauderer has sold Brickell Flatiron Park 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. Could Miami be losing Brickell Flatiron Park?
UPDATE: DBR reports the same story, but gives no mention of Brickell Flatiron Park, instead focusing on just how doomed Baru, the restaurant on the north portion of the property, (the portion that is supposed to be developed) is. This is a good sign for Brickell Flatiron Park.
· Ugo Columbo buys Brickell Flatiron site for $21 million [exMiami]
· Brickell Flatiron Park coverage [Curbed Miami]