Miami's tallest new tower is getting closer to being sold as it releases a wealth of fuel
Mast Capital CEO and founder Camilo Miguel Jr. talks exclusively with Fox News Digital about how Miami's longest-running real estate offering is being sold to buyers from more than 30 countries.
INTERMEDIATE: Next summer, the Miami skyline will be shaped by a new architectural landmark, bringing a new wave of corporate and international dignitaries to the heart of South Florida.
As Cipriani Residences Miami officially completes its nearly 950-foot construction project — the tallest residential tower in the city — the 85-story tower stands as a reminder of the Magic City's evolution from a sun-drenched vacation spot to an enduring capital of international wealth.
Cipriani revealed to Fox News Digital that his first residential development in North America is more than 80% sold, and will welcome buyers from more than 30 countries who now call Miami their primary home.
“Residential living is a natural extension of hospitality, but it was important for us to do it right,” Giuseppe Cipriani told Fox Digital exclusively. “With Cipriani Residences Miami, we found the right city, location and great partner… Our family was closely involved in shaping the design and the overall experience to reflect the same traditions we've lived with for generations. For us, it's not just about putting Cipriani's name on a building. It's about creating a home where the way you live is the way we could live.”
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Every time I drive, my emotional reaction is, 'Wow.' I feel humbled that we are building something of this scale, because when I started my business, although I always wanted to get here, I didn't know when it would happen – and it has happened,” said Mast Capital founder and CEO Camilo Miguel Jr., the developer behind the building. “One of the biggest challenges was actually part of the pre-planning, because when you build a 950-meter building … the engineering that goes into that is very different than building something 20 stories.”
Cipriani Residences Miami recently unveiled a 950-foot project, making it the tallest offering in the Brickell skyline. (Image credit: Inflight / FOXBusiness)
The top international markets for consumers, in order, are from Mexico, Italy, Colombia, Brazil, Venezuela, Argentina, Canada, France, Spain and the United Kingdom. Domestic buyers continue to flood in from high-tax states like New York and California, too.
“There are countries that have their own economic challenges and political challenges and emergencies, and … And people don't just shop in Miami. [an] investment, but people actually shop in Miami to live. And people were looking at Cipriani and saying, 'This is going to be home,'” Miguel said.
“We have buyers who have bought their whole family and intend to move everyone into the building,” he added.
The luxury condo building is set to be the tallest in Miami at nearly 1,000 feet tall. | Getty Images
“Each city has its own character, but what people appreciate about Cipriani is remarkably consistent: warmth, understanding, good service and a sense of familiarity,” Cipriani said. “Miami is a very international city, and that has always felt natural to us. People come here from all over the world, just like they do in Venice or New York. The lifestyle is naturally associated with the beautiful climate, its connection to the water, its seamless relationship between indoor and outdoor spaces. Cipriani Residences Miami brings that lifestyle to our world.”
“People are increasingly choosing Miami not as a place to visit, but as a place to live,” Cipriani continued. “They want privacy, comfort, good service and a quality of life that feels simple.”
Earlier this month, the New York Post reported that soccer star Lionel Messi bought four units in the building, followed by a wave of other Argentine players. Buyers allegedly include executives from Citadel and Amazon from New York and California.
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“We don't change who we depend on. That has never been our philosophy,” said Cipriani. “For almost a hundred years, our family has welcomed people from many different countries and cultures[s]generations and ways of life. Royals, nobles, powerful businessmen but also writers, intellectuals and all sorts[s] interesting people have been coming to our places – as people.”
“That sense of warmth and understated beauty that comes from our Italian heritage, and is always at the heart of everything we do, fortunately appealed to many of them,” said the grandson of the Cipriani family.
“One of the main reasons why people choose Miami over New York City right now is the pro-business attitude. I mean, you live in a business-friendly city and a business-friendly environment, and the growth and global nature of our city,” explained Miguel. “And you quickly realize that like a hedge fund or a financial institution, you no longer need to be in New York City to operate and be successful.”
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“These are big companies that move here, sign leases, take over, and move their top managers to Miami, who earn high incomes. And these people buy homes and condos across Miami,” said Miguel.
The development is on track to be the only new residential tower in the Brickell area to deliver completed homes by 2027.
“We are very proud of what was built, and where the company is today, 95 years after the opening of that small bar in Venice. To see the tower reach its full height makes us even more excited to bring that spirit to the lives of the residents who will call it home,” Cipriani admitted in a nod to his grandfather's establishment of Harry's Bar in 1931 where Bermlinith and simline care was born” became Cipriani's trademark.
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“The principles have never changed,” he said. “Whether it's a restaurant, a club, a hotel or now a place to stay, the idea is the same: people should feel comfortable, relaxed and at home. The world changes, but our standards of hospitality don't.”
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“This is about heritage, about people, about family,” admits Miguel, recalling his first time at Cipriani's restaurant. “What I really liked about that subtle beauty you get when you walk in, and the fact that everyone who works there is smiling, everyone there is welcoming and everyone there is very focused on making sure you have a good experience.”
“I never dreamed Miami would be what it is today,” Miguel said, “and I think the sky's the limit.”
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