Miami

Tag: Miami

MilanoSesto

Milan Emerges as Europe’s Third Wealthiest Metropolis, Attracting Global High-Net-Worth Individuals

By Columbus International,

Milan has solidified its position as a magnet for global wealth, climbing to eleventh place on Henley & Partners’ ranking of the world’s top 50 cities attracting ultra-high-net-worth individuals. With 115,000 millionaires and 17 billionaires now calling the city home, Milan stands as Europe’s third wealthiest city, trailing only London and Paris in its concentration of extraordinary wealth.

A Decade of Wealth Accumulation

The Lombardy capital has experienced remarkable growth in its millionaire population, with a 24% increase over the past decade from 2014 to 2024. This positions the city globally between Sydney and Chicago, and ahead of Beijing in Henley & Partners’ prestigious wealth rankings.

This wealth migration phenomenon reflects Milan’s multifaceted appeal to the global elite. The Italian government’s flat tax program for high-income new residents has created a favorable tax environment that has clearly resonated with international wealth holders. However, Milan’s success extends well beyond tax policy.

Economic Renaissance and Business Magnetism

Milan’s traditional strengths in fashion, luxury goods, and design continue to serve as powerful wealth generators and attractors. These heritage industries have been complemented by a broader business renaissance that has seen the city welcome 49 new foreign multinational corporations in 2023 alone.

The commercial real estate sector provides further evidence of Milan’s growing international prominence, with €600 million in commercial real estate investments recorded. This performance places Milan in the same league as established global business hubs like Barcelona and San Francisco, which attracted €600 million and €900 million respectively.

Residential Real Estate Boom

The residential property market has reflected this influx of wealth, with particularly strong performance in new housing developments. In 2024, new residential properties accounted for over 22% of all real estate transactions in Milan, significantly outpacing the Italian national average of 12.8%.

This premium sector performance demonstrates how wealth concentration directly influences the city’s physical development, with demand for high-quality residential options driving new construction and urban renewal.

Post-Pandemic Economic Resilience

Perhaps most impressive is Milan’s exceptional economic recovery following the global pandemic. According to research conducted by Assolombarda, Milan has achieved a remarkable 8.7% GDP growth from 2019 to 2023, outperforming other major global cities.

This recovery surpasses Amsterdam (+8.1%), Berlin (+6.9%), New York (+4.4%), Munich (+2.2%), Barcelona (+1.9%), and London (+0.1%). Notably, Paris remains 2.6% below its pre-pandemic economic output, highlighting Milan’s particular resilience.

Future Outlook

Milan’s emergence as a wealth hub appears to be more than a temporary trend, with structural economic strengths, quality of life benefits, and strategic policy decisions creating a sustainable foundation for continued prosperity.

As global wealth mobility increases in response to political and economic factors, Milan’s balanced offering of business opportunity, cultural richness, and lifestyle benefits positions the Lombardy capital to potentially climb even higher in global wealth rankings in the coming years.

The challenge for city leadership will be managing this wealth influx to ensure it benefits the broader metropolitan community while preserving the authentic character that makes Milan attractive in the first place.

Market Volatility Creates Unprecedented Disruption In Ultra-Luxury Real Estate

By Columbus International,

Recent market volatility has triggered a significant and abrupt shift in the ultra-luxury residential real estate sector, with high-net-worth individuals reconsidering or abandoning multi-million dollar property acquisitions amid economic uncertainty. According to recent reporting by The Wall Street Journal, this sudden pullback signals a potential turning point for a segment of the market that had remained seemingly impervious to broader economic pressures.

Wealth Effect In Reverse

The luxury property market, which has demonstrated remarkable resilience through interest rate hikes that slowed mainstream housing, is experiencing what economists term a reverse wealth effect. When high-net-worth individuals witness portfolio values decline, psychological barriers to large discretionary purchases emerge regardless of their overall financial stability.

A case in point: a New York real estate agent, Peter Ocean, had secured a $10.25 million deal for a four-bedroom Lenox Hill co-op in early March, only to see it collapse days before contract signing when market turbulence eroded the buyer’s stock portfolio by approximately 25%, as reported by The Wall Street Journal.

This pattern is repeating across the nation’s most exclusive enclaves. In Bel-Air, a $65 million transaction fell through when international buyers backed out during their contingency period following market fluctuations. Meanwhile, in Coral Gables, Florida, a businessman requested a 30-day pause on negotiations for a $42 million, 15,000-square-foot residence due to concerns about his China-dependent import business.

Strategic Recalibration Among Affluent Buyers

The market disruption extends beyond immediate wealth preservation concerns. The Wall Street Journal reports that some affluent buyers are strategically repositioning capital that would have been allocated to luxury residences.

In Brooklyn’s Park Slope neighborhood, business owners Joanna Neumann and her husband rescinded their offer on a $3.995 million brownstone despite it being their “dream home.” Their priority shifted to maintaining liquidity to support their gym business should economic conditions deteriorate further.

This calculation—weighing dream properties against business needs—represents a significant psychological shift in a market segment where discretionary purchasing power has seemed limitless in recent years.

Geographic Breadth Of The Pullback

The luxury market cooling is geographically diverse, affecting established wealth centers and emerging luxury destinations alike. According to The Wall Street Journal:

  • In Aspen, Colorado, approximately $100 million in high-end properties returned to the market in early April, including a $52.5 million West End residence that was relisted after falling out of contract
  • In Houston, Texas, a $1.3 million verbal offer was withdrawn as buyers cited market uncertainty
  • In Morris Township, New Jersey, an $9.95 million castle lost its buyer during due diligence
  • In Ridgewood, New Jersey, a $1.8 million property fell out of contract on April 2, coinciding with presidential trade action

The impact spans primary residences, vacation properties, and investment acquisitions alike, suggesting a broad-based recalibration of risk assessment among affluent buyers.

Market Context And Forward Indicators

The current disruption follows a period of extraordinary growth in luxury real estate. According to data cited by The Wall Street Journal from Redfin, the median sale price for U.S. luxury homes—defined as the top 5% of sales—increased 8.8% during the second quarter of 2024, outpacing non-luxury properties by more than double.

This price appreciation, coupled with limited inventory in premier markets, had created a seller’s market that appeared unstoppable. Recent market events, however, have prompted a reset in both seller expectations and buyer confidence.

Strategic Implications For Market Participants

Industry professionals are divided on whether the current pullback represents a temporary hesitation or the beginning of a more substantial correction. Some agents report continued interest from buyers seeking to diversify away from equities, while others note a wait-and-see approach among clients.

For sellers, the changing dynamics may require strategic patience. The Lenox Hill co-op owner who lost a $10.25 million deal subsequently rejected a $9 million offer, banking on market stabilization restoring buyer confidence.

For the ultra-wealthy, these decisions ultimately reflect portfolio management strategies rather than housing necessity—a fundamental distinction from the broader housing market that makes luxury real estate both more volatile and potentially more resilient in response to economic uncertainty.

As markets attempt to find equilibrium amid ongoing economic and policy developments, the luxury real estate sector may serve as a leading indicator of high-net-worth investor sentiment and their longer-term confidence in economic conditions.

Miami’s Italian Renaissance: Inside The City’s Most Influential Culinary Destinations

By Columbus International,

A new wave of Italian fine dining is reshaping Miami’s gastronomic landscape, delivering significant economic impact to the region’s luxury hospitality sector. According to a recent report from Eater, Miami’s “love affair with Italian food” has evolved into a “full-blown obsession,” with establishments ranging from upscale dining venues to innovative fusion concepts capitalizing on the sustained demand.

This trend represents more than mere culinary preference—it reflects a strategic market response to affluent diners seeking sophisticated experiences that blend traditional European sensibilities with Miami’s distinctive cultural identity. The following establishments exemplify how this segment continues to drive premium hospitality growth in South Florida.

Investment-Worthy Destinations

Fiola Miami has established itself as a cornerstone of Coral Gables’ high-end dining market with an operational model focused on luxury ingredients and meticulous presentation. The establishment’s investment in premium offerings, including an extensive caviar program and signature dishes like lobster ravioli, has created sustainable competitive advantage in the upscale segment. The venue’s curated wine program serves as an additional revenue driver, particularly appealing to clientele celebrating significant occasions.

In contrast, Pasta demonstrates the market potential of chef-driven concepts with international backing. Founded by Peruvian culinary entrepreneurs Juan Manuel Umbert and Janice Buraschi, who successfully replicated their Lima business model in Miami, the concept delivers value through fusion innovation. Their menu leverages cross-cultural culinary trends, featuring strategic pairings like razor clams with ‘nduja and salsa verde that deliver differentiated value to sophisticated diners seeking novel flavor profiles.

Specialized Market Positioning

Cotoletta exemplifies effective niche market strategy, focusing exclusively on the Milanese veal cutlet tradition. The establishment’s $80 prix fixe menu for two represents a calculated pricing model that delivers predictable margins while streamlining operational complexity. This specialist approach demonstrates how narrowly focused concepts can capture market share through expertise differentiation rather than menu diversity.

Established Market Leaders

Luca Osteria has leveraged location advantage on Giralda Avenue’s pedestrian corridor, while Zucca has built sustainable business through hotel integration at the St. Michel in Coral Gables. Both establishments demonstrate how strategic positioning within existing hospitality infrastructure can provide customer acquisition advantages and operational efficiencies.

Felice Brickell represents successful market expansion of established brands, bringing NYC’s Tuscan dining experience to Miami’s financial district. Under executive chefs Roberto Consiglio and Luigi Bailon, the operation has adapted its northern Italian concept to South Florida’s consumer preferences while maintaining brand integrity. Their vertical integration extends to founder Jacopo Giustiniani’s vineyard, creating supply chain advantages and exclusive product offerings.

Innovation Leadership

Perhaps most indicative of Miami’s growing significance in the global culinary marketplace is Torno Subito Miami, representing acclaimed chef Massimo Bottura’s strategic expansion into the Florida market. Located at downtown’s Julia & Henry’s rooftop development, this concept brings Michelin-star credibility to the local market while adapting to regional preferences through chef Bernardo Paladini’s execution. The operation has created additional value through strategic partnership with renowned NYC cocktail bar Dante, demonstrating how complementary brand collaborations can enhance revenue opportunities beyond core food offerings.

Market Outlook

The sustained growth of premium Italian concepts in Miami signals investor confidence in the region’s ability to support luxury hospitality ventures despite economic fluctuations. With established NYC operators and international culinary figures continuing to enter the market, this sector appears positioned for continued expansion, particularly in venues that effectively balance tradition with innovation.

As Eater reports, even “the most discerning nonna would approve” of these establishments, suggesting that authenticity remains a core value proposition despite the evolution of presentation and technique. For investors and operators in Miami’s hospitality sector, Italian cuisine continues to offer compelling opportunities for market differentiation and premium positioning.

Lionel Messi Expands Miami Real Estate Portfolio with Four New Luxury Residences

By Columbus International,

Soccer superstar Lionel Messi is making significant moves in South Florida’s premium real estate market, according to a recent report from the New York Post.

The Argentine forward, who joined Inter Miami in 2023, has reportedly entered an agreement to purchase four residences in the upscale Cipriani Residences Miami, an 80-story luxury development by Mast Capital currently under construction.

Sources familiar with the transaction told the Wall Street Journal that one of Messi’s acquisitions is a four-bedroom unit spanning approximately 3,500 square feet, with a price of around $7.5 million. Details about the other three units have not been disclosed.

This latest investment adds to the 37-year-old athlete’s already substantial real estate holdings in the region. According to public records cited by the New York Post, Messi’s portfolio includes a $10.75 million waterfront estate in Fort Lauderdale and multiple condominiums in Miami’s Porsche Design Tower.

The Cipriani Residences project, which began sales in 2022, is scheduled for completion in 2028. Future residents will enjoy premium amenities including two swimming pools, a private dining venue, a speakeasy-style lounge, and comprehensive catering services. Fortune Development Sales is managing the marketing for this development, which is capitalizing on Miami’s strong demand for new luxury properties.

Miami’s condominium market currently shows a distinct division between new and established properties. While newly constructed developments like the Cipriani Residences are experiencing strong buyer interest, older buildings face challenges with slower sales and increasing inventory. According to the Miami Association of Realtors, median prices for condominiums and townhouses increased by 8% in February compared to the previous year, highlighting the continued strength in the luxury segment of the market.

Fonte: New York Post

Casa Cipriani Expands Beyond New York and Milan with Luxurious Florida Beachfront Development

By Columbus International,

Columbus International: Your Premier Bridge Between US and Italian Real Estate Markets

With prestigious offices in New York, Miami, Milan, and Florence, Columbus International delivers unparalleled expertise in transatlantic property investments. Contact our experienced agents today to explore exceptional opportunities on both continents.

Iconic Italian Hospitality Brand Announces First Residential Venture in Miami Beach’s Prime Oceanfront Location

Casa Cipriani, the storied Italian hospitality brand synonymous with refined luxury, is making waves in the South Florida real estate market with its ambitious expansion plans. The iconic brand is set to launch its first Florida location—a sophisticated development that will feature 23 ultra-luxury condominiums alongside a boutique 40-room hotel and an exclusive private members’ club.

According to sources close to the project, this unprecedented venture will be housed in a striking 17-story oceanfront tower at 3611 Collins Avenue in Miami Beach, positioning the development in one of the most coveted coastal strips in the country.

This marks Casa Cipriani’s strategic entrance into the luxury real estate sector, establishing its presence in a prestigious oceanfront district that recently welcomed the new Aman Miami Beach just blocks away—further cementing the area’s status as a hub for ultra-luxury branded residences.

The ambitious project represents a powerhouse collaboration between three major players: Arnaud Karsenti’s Miami-based 13th Floor Investments, Joseph Cayre’s Midtown Equities, and the legendary Cipriani family themselves.

Acclaimed architect Brandon Haw has been commissioned to design the building, which promises to masterfully blend Miami Beach’s iconic Art Deco heritage with the timeless Cipriani aesthetic—an elegance that traces back to 1931 when Giuseppe Cipriani founded the original Harry’s Bar in Venice, Italy.

A project spokesperson revealed exclusively that the luxury residences, ranging from one to four bedrooms, are expected to command starting prices in the $25 million range when sales launch later this year. Construction is slated to commence shortly thereafter, signaling confidence in Miami’s resilient luxury market despite broader economic uncertainties.

While Casa Cipriani may be new to Miami, the Cipriani family’s impressive portfolio already boasts a significant Florida presence, including the under-construction Cipriani Residences Miami, Cipriani Downtown Miami restaurant on Brickell Avenue, the completed Mr. C Residences and Mr. C Hotel in Coconut Grove, and a forthcoming Mr. C Hotel & Residences in West Palm Beach.

“Casa Cipriani is fundamentally about comfort, privacy, service and elegance,” explains Maggio Cipriani, president of Cipriani USA and fourth-generation family member. He emphasizes that the Miami location will deliver the exceptional private club experience “that our members cherish” while offering a “unique opportunity to call this extraordinary place home.”

The development will feature an impressive array of premium amenities, including a dedicated private entrance for residents, signature dining experiences, comprehensive in-home dining and catering services, exclusive private dining rooms, a swimming pool serving Cipriani’s acclaimed food and beverages, a world-class spa, a sophisticated lounge, and a state-of-the-art fitness center.

Industry analysts note that this development represents a significant vote of confidence in Miami’s ultra-luxury market, as well as the continuing trend of prestigious hospitality brands extending into the residential real estate sector to meet growing demand for branded living experiences.

Source: New York Post

“12 Yachts You Can’t Miss at the Palm Beach Boat Show 2025,” According to Forbes

By Columbus International,

According to Forbes, the Palm Beach International Boat Show is quickly establishing itself as one of the premier events in the yachting calendar. The 2025 edition promises to be the largest yet, featuring approximately €2.2 billion worth of superyachts over 82 feet for sale. With 191 vessels in that size range expected to attend—surpassing 2024’s count of 173—the show combines an impressive selection of second-hand inventory with world debuts and new model announcements.

Forbes highlights that the event’s easy navigation format and prime location along West Palm Beach make it particularly appealing to yacht enthusiasts. With the show days away from opening, Forbes has compiled a list of twelve standout vessels that shouldn’t be missed.

The Must-See Vessels

204-foot Bravissima
Builder: Benetti
Year: 2023
This highly-anticipated and secretive Benetti creation will make her world debut at the show. According to Forbes, no one has glimpsed inside this unique vessel designed by Cassetta Yacht Designers and Van Oossanen Naval Architects since her delivery.

186-foot Santosha
Builder: Heesen
Year: 2024
Forbes notes this vessel marks a new chapter for Dutch shipyard Heesen as their first in a new series of aluminum yachts in this size range. The award-winning yacht features low-profile lines, an ample swim platform, and amenities including a well-equipped sundeck with bar and dining facilities.

148-foot Go
Builder: Tankoa
Year: 2024
Making her world debut, this Italian model was purchased by an American client who requested subtle layout changes to maximize space and volume. Forbes reports the yacht has remained largely out of the spotlight until now.

196-foot Alfa G
Builder: Oceanco
Year: 2004
Fresh from an extensive refit, Alfa G sports a completely new exterior with a distinctive dark hull and scarlet trim. The interior has undergone a comprehensive overhaul featuring classic art pieces, Art Deco touches, and clean lines.

155-foot M
Builder: Sanlorenzo
Year: 2024
Forbes describes this vessel as balancing hardy explorer capabilities with fresh, elegant design. Studio Indigo created interiors with a soft, warm ambience featuring touches like a pink-velvet walk-in wardrobe and a crisp espresso and ivory color palette.

130-foot Riva Bellissima
Builder: Riva
Year: 2023
This 299-GT model carries signature Riva design elements into the interior, with large windows in the saloon, gleaming wood finishes, and multi-functional entertainment spaces.

114-foot Fox
Builder: Pendennis
Year: 2024
One of Pendennis Shipyard’s first pocket explorers, Fox features an 1,114-square-foot main deck aft designed for carrying toys and tenders—including a submersible—and a bridge deck with a DJ station.

191-foot Diamond Binta
Builder: Tankoa
Year: 2024
Making her US debut, this yacht features automotive-inspired design by Francesco Paszkowski with dark marbles, contrasting light panels, and cream accents. Forbes highlights the beach club with triple openings and an engine room with a transparent corridor.

180-foot Gene Machine
Builder: Amels
Year: 2014
Owned by DNA sequencing scientist Dr. Jonathan Rothberg, this vessel and her support yacht Gene Chaser will be displayed as a pair. Forbes notes they were equipped to support scientific discoveries, featuring a molecular biology laboratory with 3D printers.

62-foot Grand Banks 62
Builder: Grand Banks
Year: 2024
Forbes recommends this vessel for classic boat lovers, noting its timeless appeal and downeast styling. The yacht features the brand’s V-Warp Technology for fast, efficient performance with top speeds of 30 knots.

95-foot Pearl 95
Builder: Pearl
Year: 2024
This British vessel features Kelly Hoppen interiors with an impressive five-cabin layout. Forbes describes its penthouse-inspired interior that utilizes timber veneers, onyx marbles, and metal details.

50-foot De Antonio D50 Coupe
Builder: De Antonio
Year: 2024
Forbes calls this dayboat “sleek yet robust,” noting its extended hard top makes it ideal for use in Florida and the Bahamas, while its two-cabin layout suits it for longer passages.

Photo Credit: Palm Beach Boat Show + Instagram

Miami’s Real Estate Transformation: Million-Dollar Mansions Rise as Affordable Homes Vanish

By Columbus International,

Miami’s skyline isn’t the only thing reaching new heights. As ultra-wealthy buyers flood the South Florida market, they’re reshaping the entire real estate landscape, creating a city where luxury properties abound while entry-level homes become relics of the past.

The Vanishing Starter Home

As per The Wall Street Journal, the statistics tell a startling story. Between 2019 and 2024, single-family homes priced below $500,000 in Miami-Dade County have plummeted by an astonishing 79.6%, according to research firm Analytics Miami. This dramatic shift coincides with hedge-fund titan Ken Griffin’s historic $100 million home purchase—the first of its kind in Miami—which seemingly opened the floodgates for similar high-end transactions.

The data reveals the complete transformation of Miami’s housing market. What was once a city with diverse housing options has rapidly evolved into a playground for the ultra-wealthy, with profound implications for everyone else.

The Griffin Effect

Griffin’s record-breaking purchase wasn’t just a headline—it was a harbinger. Since that landmark transaction, Miami has experienced an unprecedented surge in eight and nine-figure home sales, reshaping market expectations and pricing strategies throughout the region.

Griffin’s statement purchase validates Miami as a true luxury destination on par with New York, London, and Hong Kong. This landmark transaction has influenced other wealthy individuals to see Miami differently—not just as a vacation spot but as a place to establish a significant presence.

The trend has accelerated further with Russian billionaire Vladislav Doronin’s recent sale of his Star Island estate for a staggering $120 million—setting a new record for Miami-Dade County. The property, which Doronin purchased from retired NBA star Shaquille O’Neal for $16 million in 2009, represents a remarkable 650% return on investment. According to reports from The Real Deal and the South Florida Business Journal, the luxurious residence is rumored to be a teardown purchase, signaling that even trophy properties may be viewed as merely land acquisitions in today’s ultra-luxury market.

Economic Ripple Effects

This transformation extends far beyond real estate statistics. As affordable inventory disappears, Miami’s workforce—the teachers, healthcare workers, and service industry employees who keep the city functioning—face increasingly untenable housing situations.

Average earners now commute from ever-distant suburbs, with some traveling more than 90 minutes each way to reach jobs in Miami’s core. This migration creates additional pressure on transportation infrastructure while simultaneously altering the demographic makeup of Florida’s most dynamic city.

There’s a real risk of Miami becoming a tale of two cities—one populated by the ultra-wealthy and the other by those who serve them, with very little in between. The ongoing middle-class exodus threatens the diversity and vibrancy that made Miami special in the first place.

Investment Drivers

Several factors fuel this market transformation. Florida’s favorable tax environment, combined with Miami’s international appeal and lifestyle amenities, creates perfect conditions for wealth migration. The pandemic accelerated these trends, as remote work capabilities allowed executives from high-tax states to relocate permanently.

Miami offers what wealthy individuals from New York, California, and international locations seek: financial advantages, cultural dynamism, and extraordinary quality of life. This isn’t a temporary trend—it’s a fundamental realignment of where capital and influence concentrate in America.

The New Normal?

Industry experts debate whether this market shift represents a permanent change or a cyclical extreme. Some point to similar patterns in cities like San Francisco and New York, suggesting Miami will eventually reach a new equilibrium that accommodates diverse income levels.

Others see Miami’s transformation as more profound and potentially irreversible. The combination of limited developable land, strong international demand, and climate-related challenges to new construction creates unique pressures that may permanently alter the city’s housing ecosystem.

The $500,000 single-family home in Miami-Dade isn’t just endangered—it’s practically extinct. Looking ahead, the market will need to completely rethink how housing functions in this region, because the old paradigms simply no longer apply.

For now, the city continues its remarkable metamorphosis, with each eight-figure transaction further cementing Miami’s status as America’s newest ultra-luxury real estate capital—and pushing the prospect of affordable homeownership further beyond reach for everyone else.

This article represents analysis based on current market conditions and expert opinions. Real estate investments involve risk, and market conditions may change.

For inquiries regarding distinguished Miami properties—whether for acquisition or divestment—the esteemed real estate professionals at Columbus International remain at your service. info@columbusintl.com

Case quartiere Palm Beach

Palm Beach’s Luxury Real Estate Boom: How New York’s Elite Transformed a Market

By Columbus International,

Columbus International: Your Gateway to Premier Real Estate Markets

As a distinguished real estate boutique connecting the vibrant markets of New York, Miami, Milan, and Florence, Columbus International presents exclusive insights into luxury real estate trends. Our expertise in facilitating cross-market investments positions us uniquely to analyze emerging patterns in high-end property movements.

The transformation of Palm Beach’s real estate landscape tells a compelling story of wealth migration that began during the COVID-19 pandemic and continues to reshape Florida’s luxury property market. What started as a temporary exodus from Manhattan has evolved into a permanent shift in how high-net-worth individuals view their residential choices.

The surge in demand for Palm Beach properties has been nothing short of extraordinary. By April 2022, the median home price in this exclusive enclave of fewer than 10,000 residents reached an astounding $4.15 million. While prices have slightly adjusted since then, they remain significantly elevated compared to pre-pandemic levels.

This wealth migration from New York City has fundamentally altered the market dynamics in Palm Beach. Analytics reveal a striking trend: in 2019, New York-based viewers accounted for just 6.5% of Palm Beach County listing views. By 2023, this figure had surged to 19.6% – representing one in five potential buyers.

The impact of this migration becomes even more apparent when examining driver’s license data. In 2022 alone, 8,059 New Yorkers exchanged their licenses for Florida credentials in Palm Beach County. Perhaps more telling is that in 2021, 41% of all transplants to the area originated from New York City, bringing with them an average annual income of $728,000.

Entrepreneurship always flows to some new place, and COVID-19 broke long-established habits long enough to allow the formation of new ones, supercharging these migration patterns. The results are evident in the numbers: Palm Beach County’s median single-family home price jumped from $370,000 in 2019 to $665,000 in 2024 – an 89% increase.

The luxury segment has experienced even more dramatic growth. Between 2019 and 2024, sales of homes priced at $2,000 per square foot surged by 640%. Ultra-luxury properties, valued at $20 million or more, saw a 500% increase in sales during the same period. January 2025 alone recorded six transactions exceeding $20 million – more than the entire year of 2019.

The inventory landscape further reflects this transformation. From September 2019 to January 2025, while the median listing price nearly doubled to $2.9 million, the number of available homes priced above $1 million dropped by half, from 313 to 137.

This unprecedented market evolution stems from wealthy New Yorkers creating an appetite for product price points that basically didn’t exist before. The combination of limited buildable land and rising construction costs ensures that this high-end market transformation will likely persist, reshaping South Florida’s luxury real estate landscape for years to come.

Columbus International expertly navigates these evolving market dynamics, offering investors unique opportunities to establish roots in four of the world’s most prestigious real estate markets. Our boutique approach ensures personalized service while leveraging deep market knowledge across New York, Miami, Milan, and Florence.

Contact Columbus International to explore premium investment opportunities in these thriving markets: info@columbusintl.com

Source: New York Post

The New Gold Coast: Miami’s Ultra-Luxury Real Estate Defies Market Logic

By Columbus International,

Columbus International, your trusted real estate boutique specializing in Miami’s most exclusive properties, has witnessed firsthand the transformation of South Florida into a global ultra-luxury destination. With decades of experience in facilitating transactions for clients with various wealth levels and a deep understanding of local market dynamics, Columbus International stands out as the premier choice for discerning investors looking to capitalize on Miami’s unparalleled real estate boom.

What some might call a bubble, market experts define as the new normal in South Florida’s ultra-luxury real estate sector. As the region continues to attract global wealth and corporate relocations, nine-figure properties have become increasingly common in Miami-Dade and Palm Beach counties.

The first quarter of 2025 has already seen several properties commanding astronomical prices, both on and off the market. Among these prestigious offerings is the magnificent Banyan Ridge Estate, a 11,855-square-foot masterpiece in Coconut Grove, currently available at $135 million. Meanwhile, a rare three-house compound in Miami Beach has hit the market at $150 million, offering an unprecedented opportunity for the ultra-wealthy buyer seeking the ultimate in privacy and luxury.

The northern corridor of South Florida’s luxury real estate market is equally robust, with a remarkable spec house in Manalapan commanding attention at $285 million. Adding to the intrigue, sources indicate that a custom-built residence on the prestigious Indian Creek Island, owned by a prominent sports figure, might be quietly available at $150 million.

These stratospheric prices, while striking, reflect a fundamental shift in South Florida’s luxury real estate landscape since the pandemic. The region’s appeal to ultra-high-net-worth individuals, attracted by the favorable tax climate and year-round sunshine, has created a new benchmark for luxury properties. This trend was solidified when a prominent hedge fund billionaire acquired portions of his Palm Beach compound for over $100 million in separate transactions during 2019 and 2022.

In Naples, on the Gulf coast of the peninsula, a vast estate at 100 Bay Road, known as Gordon Pointe, made headlines last year when it was listed for $295 million. The asking price was subsequently reduced to $210 million. The latest record was set in Miami when an Australian infrastructure investor purchased 10 Tarpon Isle in Palm Beach for $152 million last May. Miami’s condo market is seeing similar prices. Notably, a well-known tech entrepreneur is said to be considering a $100 million condo in West Palm Beach.

Billionaires bring their businesses with them. Along with several Fortune 500 companies that have relocated to South Florida in recent years, last month Amazon signed a lease for 50,333 square feet of space at Miami’s Wynwood Plaza. But while some link the sky-high listings to a real estate bubble that experts warn is growing in Miami, according to the CEO of a major appraisal firm, these properties are in a category of their own.

“The super-luxury market segment has very little to do with the local real estate market,” says an expert. “A $150 million sale is a global listing.”

Agents are capitalizing on this momentum. There were seven closings over $100 million in 2024, the second-highest per year in US history after nine in 2021. And for every shocking list price that gets media attention, several other properties are kept secretly off-market.

The values of these properties haven’t quintupled overnight. A large amount of wealth has poured into Florida and the perception of value has changed.

The elections have also given confidence to the market. As is common nowadays, value is often perceived in terms of how little work a home needs. Defining the phenomenon as the “Uber or Amazon effect,” buyers want instant gratification: “A billionaire, for whom money is not an issue, seeks to save time and have the perfect home.”

With 13 bedrooms and 18 bathrooms, 3585 Anchorage Way boasts more than 180 feet of waterfront across seven lots on Biscayne Bay. The estate also features a century-old banyan tree, waterfalls, a saltwater fish pond, and an infinity pool.

The property on Indian Creek Island Road was built from scratch after purchasing the lot for $17 million in 2020. The bayfront home has a pool, a separate gym, and a cabana.

The property at 190 Palm Avenue comprises three mansions with a total of 21 bedrooms, plus three pools, parking for 20 cars, and 300 feet of waterfront with multiple docks.

The comparable prices are there because there have been, in the last six months, highly publicized and significant deals in this order of magnitude. Linear feet of ocean frontage are the new luxury, the new bragging rights.

Source: New York Post

Miami

Miami’s Luxury Developers Pioneer New Era of Affordable Housing

By Columbus International,

South Florida’s explosive growth has intensified its housing affordability crisis, with Miami Homes For All reporting a shortage exceeding 90,000 homes for households earning below $60,000 annually. But an innovative state program is transforming how developers approach affordable housing in Miami, yielding communities that rival their market-rate counterparts in quality and amenities.

The Florida Live Local Act has emerged as a catalyst for change, offering tax incentives to developers who designate at least 71 units in their projects for households earning up to 120% of the area median income. This initiative marks a decisive break from Miami’s previous affordable housing model, which often compromised on design and amenities to minimize costs.

Today’s affordable developments showcase amenities previously reserved for luxury properties: pickleball courts, rooftop lounges, modern fitness centers, and children’s play areas. Inside the units, residents find high-end finishes including stainless steel appliances, expansive windows, and premium cabinetry.

“Miami-Dade faces the nation’s most severe affordability crisis,” says Michael Swerdlow of SG Holdings. His firm’s flagship project, Sawyer’s Walk, exemplifies this new approach. Located in historic Overtown, Miami’s oldest African-American neighborhood, this 1.5-million-square-foot mixed-use development stands as the country’s largest affordable housing project in the past decade. The community, designed for low-income seniors, integrates retail amenities like Target and Aldi while offering convenient access to multiple public transit options.

Laguna Gardens in Miami Gardens represents another milestone as one of the first developments completed under the Live Local Act. Developer Asi Cymbal partnered with renowned architectural firm Jo Palma and Partners to create 341 units that blend modern design with community-focused amenities, including lakeside trails and outdoor gathering spaces.

Looking ahead, Whitman Family Development’s planned Bal Harbour Shops project will dedicate 40% of its 600 upscale residences to workforce housing, targeting essential workers like teachers, first responders, and hospitality staff. Meanwhile, SG Holdings is developing an ambitious project in Little Haiti’s Little River District, planning 7,500 residential units across various affordability levels, complemented by retail space, green areas, and a new transit station.

“At this stage in my career,” reflects Swerdlow, “delivering quality housing to those who need it most creates the greatest impact in our community.” This sentiment captures the transformation underway in Miami’s affordable housing sector, where luxury developers are redefining standards while addressing critical community needs.

Source: Forbes


Columbus international

Columbus International offers top experts in the real estate field that will make your quest for a property as seamless as possible.

CONTACT

    (+1) 212.327.0160

    (+39) 800.737.060

info@columbusintl.com

OFFICE

Rockefeller Center
1270 Sixth Avenue, 8th floor,
New York, NY 10020

Facebook Twitter Instagram Linkedin Youtube

Newsletter

Receive our latest news and updates.

1
keyboard_arrow_leftPrevious
Nextkeyboard_arrow_right

© 2024 – all rights reserved  – Columbus International                                                            ⓘ    We are committed to upholding the principles of all applicable fair housing laws 

Standardized Operating Procedure for Purchases of Real Estate Pursuant to Real Property Law 442-H 

Columbus International operates in the United States under the aegis of Keller Williams NYC and Living RE srl in Italy

NEW YORK FAIR HOUSING STATEMENT             |             PRIVACY POLICY              |            COOKIE POLICY             |            TERMS OF USE