The Cipriani Effect at Icon Brickell Miami

May 13th, 2013 Written By

If you are a real estate fanatic, then you’ve no doubt heard about the Whole Foods Effect on a neighborhood and real estate prices. Whether or not Whole Foods has a scientific formula for the way they choose new locations in cities, or it’s just a coincidence that they open right at the inflection point when real estate values are about to go up, is up for debate. One thing that is for sure is that when the upscale retailer opens, it only adds to the desirability of living in the area.

The Cipriani family has chosen Miami and specifically Brickell for its 20th location. According to the fourth generation of the family that now runs the business, their international clientele spend a lot of time in Miami and the Brickell location will serve a lunch and dinner crowd that is much less seasonal than would be true if they decided on Miami Beach.

Cipriani Miami at Icon Brickell has been rumored about for years, and was confirmed just about a year ago. Condo owners and real estate brokers have been touting the restaurant as one of the “benefits” of living at Icon Brickell. I had lunch on opening day with a client who lives at Icon Brickell.  It was wonderful and she and her husband were thrilled that they could dine here without leaving the building.

Will the Cipriani Effect be similar to the Whole Foods Effect and help to drive increases in property values for owners at Icon Brickell? It remains to be seen. You can be sure that we will follow it and let you know. In case it does not pan out, there is no need to worry. Whole Foods is still going to open just a stones throw away, across the Miami River at Metropolitan Miami.

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We know the numbers and track the Brickell real estate market.  If you would like to schedule a buyer or seller consultation, please feel free to contact us at 305-960-5317 or send us a note here. 

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