That, according to the Miami Herald's Matthew Haggman, who recently interviewed Jorge Perez, Related Group CEO and developer of over 5,500 new construction high-rise units in downtown Miami. Of those 5,500, none is more over-the-top or potentially problematic as the 1,640-unit ICON Brickell. Haggman says ICON is "a sumptuous $1 billion glass-and-concrete city within a city that includes three soaring towers, a pool the size of a football field, 1,640 condos, a boutique hotel and five restaurants. It is Florida's most spectacular condo, Pérez's masterpiece, his legacy. And, now, it may be his undoing." Pérez uses the front-page Herald ink to promote ICON, where only 30 of the first 400 people who contracted to buy have actually closed on their units, and to appeal for help from his lenders. According to Haggman, "Pérez is seeking relief not only for ICON, which alone accounts for $700 million of his debt, but for Trump Towers in Sunny Isles Beach, Oasis in Fort Myers, City Place South Tower in West Palm Beach, 500 Brickell in Miami, and the under-construction Trump Hollywood in Hollywood."
Monday, March 2, 2009
Brickell Mega-Condo Now Major Headache
That, according to the Miami Herald's Matthew Haggman, who recently interviewed Jorge Perez, Related Group CEO and developer of over 5,500 new construction high-rise units in downtown Miami. Of those 5,500, none is more over-the-top or potentially problematic as the 1,640-unit ICON Brickell. Haggman says ICON is "a sumptuous $1 billion glass-and-concrete city within a city that includes three soaring towers, a pool the size of a football field, 1,640 condos, a boutique hotel and five restaurants. It is Florida's most spectacular condo, Pérez's masterpiece, his legacy. And, now, it may be his undoing." Pérez uses the front-page Herald ink to promote ICON, where only 30 of the first 400 people who contracted to buy have actually closed on their units, and to appeal for help from his lenders. According to Haggman, "Pérez is seeking relief not only for ICON, which alone accounts for $700 million of his debt, but for Trump Towers in Sunny Isles Beach, Oasis in Fort Myers, City Place South Tower in West Palm Beach, 500 Brickell in Miami, and the under-construction Trump Hollywood in Hollywood."
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment