Cipriani Residences Miami — Weekly Intelligence Brief

1 — Executive Summary 🟡

🚨

HEADLINE THREAT — Mercedes-Benz Places Foreclosure Filed April 6, 2026

Cottonwood Group filed foreclosure against JDS Development (Michael Stern) days after acquiring the $85M bridge loan. ~$100M owed; interest accruing $53,621/day. Construction site confirmed stalled per Reddit r/Miami. JDS claims "routine loan maturity" with $750M package assembling. Note: JDS also developed 888 Brickell D&G — one distressed developer, two major Brickell products.

Cipriani stands at 304 firm contracts out of 398 total units (76.4% firm sold), with 94 not-yet-firm units and $463.6M in cumulative risk. The pace of 5 contracts/month (2026) versus 284 in 2022 represents a 97.6% velocity collapse that demands structural intervention, not incremental adjustment.

The competitive landscape shifted materially this week. Mercedes-Benz Places — 791 units at lower PSF ($1,800–$3,000 vs. Cipriani $1,600–$4,491) targeting the same buyer pool — faces court-ordered foreclosure. Construction is dark. This is a direct conversion opportunity: every MB Places buyer now carries counterparty risk and should receive targeted Cipriani outreach within 72 hours.

Three structural vulnerabilities demand board-level attention: (1) 35 ghost reservations with no buyer on file (~$146M phantom pipeline); (2) $42.2M in overdue deposits across 186 milestones — creating financing and legal exposure at TCO; (3) 2 zombie contracts aged 1,248 and 624 days with no documented resolution path.

The digital marketing program is structurally broken. StrategyMedia reports 170 leads/month but delivers 5 contracts/month — a 97% evaporation rate. Facebook/Instagram: 2 contracts ALL-TIME. Website mobile PageSpeed 27/100, LCP 41.7s — invisible to international mobile buyers. Events produce 3–50× ROI vs. digital. São Paulo (87 registrants) outperformed all social combined (25 leads). Budget must follow the data.

Time pressure: T3 (40 unfirm units / $290M) closes January 2028 — 21 months away. At 5 contracts/month, Cipriani generates ~105 new contracts by then. T3 alone requires all 40 unfirm units to go firm. Velocity must triple, or T3 closings become a distressed event.

2 — Scoreboard 🟢

THIS WEEK

0 new contracts (last 7d)

|

Last 30d: 4 contracts

|

Prior 30d: 6 (-2 MoM)

|

1 active rescission: Unit 5204 ($3.45M)

396

Total Units

→

305

Firm Sold

0%77.0%100%

→

$775M

Active Firm Revenue

$063% of $1.23B$1.23B

91

Unsold Units

$459.8M at current ask

5/mo

Current Pace (2026)

18 months to clear at this pace

46

Ghost Reservations (~$146M)

$42.2M

Overdue Deposits

2

Zombie Contracts

$29.7M

Dev-Held (6 units)

Note: "91 unsold" = inventory units without sold status. "94 not-yet-firm" from prior analysis included units with active offers/reservations counted differently. The brief uses 91 (live Spark inventory status) as the authoritative count. The 35 ghost reservations figure originates from a prior Spark contact analysis and could not be reproduced from current API data — flagged as Data Gap G2.

Tranche Delivery & Unfirm Exposure

Tranche 1 — Sept 202725 unfirm units

T1 Firm

25 UNFIRM

Tranche 2 — Oct–Nov 202728 unfirm units

T2 Firm

28 UNFIRM

Tranche 3 — Jan 2028 · $290M40 unfirm = $290M at risk

T3 Firm

40 UNFIRM · $290M

507

Days to T1 TCO

Sept 2027 · 25 unfirm

568

Days to T2 TCO

Oct–Nov 2027 · 28 unfirm

630

Days to T3 TCO

Jan 2028 · 40 unfirm · $290M

3 — Developer Intelligence 🟡 · Mast Capital Investor Update (March 24, 2026)

Project Team

Mast Capital

Developer · Camilo Miguel Jr., CEO

Arquitectonica

Architect

1508 London

Interior Design

Thornton Tomasetti

Structural Engineer

Moss & Associates

General Contractor

MSD + CanAm

Financing · Rockpoint (multifamily equity)

Construction Progress

Source: Mast Capital YE 2025 & 1Q 2026 Investor Update · March 24, 2026 · 🟡 MANUAL

ON BUDGET · 7 MO AHEAD

82

Stories

70s

Current Floor Range

9 mo

Superstructure Ahead

Sum 2026

Top-Off Expected

Active Construction Zones

Upper Floors (70s)

Concrete structure · slab pours · formwork continuing upward

Mid & Lower Floors

Interior: drywall, MEP rough-ins, painting, tile work underway

Exterior Envelope

Window installation, stucco, balcony finishes, guardrail installation progressing

Schedule Status

On budget · 7 months ahead overall · superstructure 9 months ahead

Average Selling PSF Trajectory

$1,325

Mid-2024

$1,350

YE 2024

$1,360

Mid-2025

$1,400

Now

$1,550+

Projected

77% of units sold · steady upward trend · +5.7% in 18 months

Loan Curtailment

$75M+

Deposit inflows replacing construction debt with zero-cost equity. Unique loan structure allows buyer deposits to curtail draws — reducing interest expense as the project advances.

Projected Blended Sellout

$1,550+ PSF

Based on current pricing of unsold inventory. Represents +11% upside from current ~$1,400 average, with further curtailment expected post-top-off.

4 — Building Inventory 🟢 · Floor-by-Floor Status

Firm (305)

Available (42)

Reserved (35)

Active Offer (7)

Hold (7)

TRANCHE 3 · JAN 2028

80

PH3

PH4

79

PH1

PH2

78

7801

7802

7803

7804

77

7701

7702

7703

7704

76

7601

7602

7603

7604

75

7501

7502

7503

7504

74

7401

7402

7403

7404

73

7301

7302

7303

7304

72

7201

7202

7203

7204

71

7101

7102

7103

7104

70

7001

7002

7003

7004

69

6901

6902

6903

6904

68

6801

6802

6803

6804

67

6701

6702

6703

6704

66

6601

6602

6603

6604

65

6501

6502

6503

6504

64

6401

6402

6403

6404

63

6301

6302

6303

6304

TRANCHE 2 · OCT–NOV 2027

62

6201

6202

6203

6204

61

6101

6102

6103

6104

6105

6106

60

6001

6002

6003

6004

6005

6006

59

5901

5902

5903

5904

5905

5906

58

5801

5802

5803

5804

5805

5806

57

5701

5702

5703

5704

5705

5706

56

5601

5602

5603

5604

5605

5606

55

5501

5502

5503

5504

5505

5506

54

5401

5402

5403

5404

5405

5406

53

5301

5302

5303

5304

5305

5306

52

5201

5202

5203

5204

5205

5206

51

5101

5102

5103

5104

5105

5106

50

5001

5002

5003

5004

5005

5006

49

4901

4902

4903

4904

4905

4906

48

4801

4802

4803

4804

4805

4806

47

4701

4702

4703

4704

4705

4706

46

4601

4602

4603

4604

4605

4606

45

4501

4502

4503

4504

4505

4506

TRANCHE 1 · SEPT 2027

44

4401

4402

4403

4404

4405

4406

43

4301

4302

4303

4304

4305

4306

42

4201

4202

4203

4204

4205

4206

41

4101

4102

4103

4104

4105

4106

40

4001

4002

4003

4004

4005

4006

39

3901

3902

3903

3904

3905

3906

38

3801

3802

3803

3804

3805

3806

37

3701

3702

36

3601

3602

3603

3604

3605

3606

35

3501

3502

3503

3504

3505

3506

34

3401

3402

3403

3404

3405

3406

33

3301

3302

3303

3304

3305

3306

32

3201

3202

3203

3204

3205

3206

31

3101

3102

3103

3104

3105

3106

30

3001

3002

3003

3004

3005

3006

29

2901

2902

2903

2904

2905

2906

28

2801

2802

2803

2804

2805

2806

27

2701

2702

2703

2704

2705

2706

26

2601

2602

2603

2604

2605

2606

25

2501

2502

2503

2504

2505

2506

24

2401

2402

2403

2404

2405

2406

23

2301

2302

2303

2304

2305

2306

22

2201

2202

2203

2204

2205

2206

21

2101

2102

2103

2104

2105

2106

20

2001

2002

2003

2004

2005

2006

19

1901

1902

1903

1904

1905

1906

18

1801

1802

1803

1804

1805

1806

1807

17

1701

1702

1703

1704

1705

1706

1707

16

1601

1602

1603

1604

1605

1606

1607

15

1501

1502

1503

1504

1505

1506

1507

14

1400

1401

1402

1403

1404

1405

1406

1407

12

1201

1202

1203

1204

1205

1206

1207

11

1101

1102

1103

1104

1105

1106

1107

10

1001

1002

1003

1004

1005

1006

1007

9

901

902

903

904

905

906

907

8

801

802

803

804

805

806

5 — Floor Plans 🟢 · 6 Residence Lines × 3 Tiers

Click any image to view full resolution. Lower (Fl 9-18) → Mid (Fl 19-61) → Tradizionale (Fl 62-78). Tradizionale units merge adjacent lines into ~3,464 sf 4BR layouts.

Res 01

3 Bedrooms · 3 Bath + Powder · Biscayne Bay

01

Lower

Fl 9-18

1,952 sf int

656 sf ter

Mid

Fl 19-61

2,056 sf int

656 sf ter

Tradiz.

Fl 62-78

3,464 sf int

1,112 sf ter

Res 02

1 Bed + Den · 2 Bathrooms · Biscayne Bay

02

Lower

Fl 9-18

1,454 sf int

172 sf ter

Mid

Fl 19-61

2,093 sf int

281 sf ter

Tradiz.

Fl 62-78

2,018 sf int

280 sf ter

Res 03

1 Bed + Den · 2 Bathrooms · Simpson Park

03

Lower

Fl 9-18

1,453 sf int

216 sf ter

Mid

Fl 19-61

2,171 sf int

280 sf ter

Tradiz.

Fl 62-78

2,018 sf int

280 sf ter

Res 04

1 Bed + Den · 2 Bathrooms · Simpson Park

04

Lower

Fl 9-18

1,454 sf int

177 sf ter

Mid

Fl 19-61

1,848 sf int

514 sf ter

Tradiz.

Fl 62-78

3,464 sf int

1,112 sf ter

Res 05

3 Bedrooms · 3 Bath + Powder · Simpson Park

05

Lower

Fl 9-18

1,952 sf int

587 sf ter

Mid

Fl 19-61

1,385 sf int

834 sf ter

Res 06

1 Bed + Den · 2 Bathrooms · Brickell Skyline

06

Lower

Fl 9-18

1,181 sf int

757 sf ter

Mid

Fl 19-61

1,177 sf int

456 sf ter

6 — Price Escalation 🟢 by Floor Band · Launch vs. Current Ask

Floor Band	Units	PSF Range	Avg PSF	Median Price	vs. Launch
Low (Fl 8–30)	141	$823–$1,991	$1,340	$2.04M	+23%
Mid (Fl 31–50)	116	$978–$2,121	$1,458	$2.35M	+34%
High (Fl 51–65)	82	$1,100–$2,199	$1,682	$3.33M	+55%
Upper (Fl 66–78)	52	$1,340–$2,374	$2,031	$4.75M	+87%
Penthouse (Fl 79–81)	4	$3,247–$5,510	$4,063	$33.85M	+274%

Launch PSF baseline: $1,086–$1,510. The escalation curve steepens dramatically above floor 65. Upper floors (+87%) and penthouses (+274%) represent the strongest embedded equity gains — and also the highest concentration of unfirm units (T3 exposure). Early buyers below floor 50 hold +23–34% paper gains. This is the retention narrative: "You're already profitable before you take the keys."

7 — Total Carrying Cost 🟡 Analysis · HOA + Tax + Insurance

$1.25/sf

HOA per sqft / month

~2.0%

Property Tax Rate

Non-homesteaded

$3-8K

HO-6 Insurance / yr

$377/mo avg in HOA

6-mo min

Rental Restriction

2x/year max. No STR.

Total Monthly Carrying Cost by Unit Tier (Cash Buyer)

UNIT TYPE	PRICE	HOA	TAX	INSURANCE	TOTAL/MO	ANNUAL
2-Bed (1,500 sf)	$2.2M	$1,875	$3,500	$350	$5,725	$68,700
3-Bed (2,200 sf)	$2.8M	$2,750	$4,500	$500	$7,750	$93,000
4-Bed / PH (4,000+ sf)	$6.7M+	$5,000+	$10,500+	$800+	$16,300+	$195,600+

Add Mortgage (Financed Buyer · 80% LTV @ 7%)

UNIT	DOWN PAYMENT	MONTHLY P&I	+ CARRY COSTS	TOTAL/MO
2-Bed ($2.2M)	$440K	$11,700	$5,725	$17,425
3-Bed ($2.8M)	$560K	$14,900	$7,750	$22,650
4-Bed ($6.7M)	$1.34M	$35,600	$16,300	$51,900

Rental restriction risk: 6-month minimum lease, maximum 2x/year. Buyers cannot offset carry costs with short-term rental income. A financed 2-bed buyer at $17,425/mo with no rental offset needs $209K/year in disposable income just for this property. This self-selects for cash-rich or primary-residence buyers only.

New construction advantage: Insurers are penalizing pre-2001 buildings heavily (SIRS compliance, 40-year recertification). New builds like Cipriani are designed with current wind codes, modern reserves, and favorable insurance positioning. Citizens Property Insurance shed 59% of policies — but new construction gets private market coverage at better rates.

Homestead exemption: Florida primary-residence buyers get $50K+ deduction off assessed value plus Save Our Homes caps on annual assessment increases. On a $3M unit, homestead saves ~$1,000/year in year one — but compounds significantly over time as caps prevent reassessment. This is a selling point for NYC/CA relocators: "Your tax basis locks in year one."

8 — Zombie Contracts 🟢 · 2 Units Frozen in Limbo

Unit 4704

Floor 47 · Active Offer · T2 Tranche

1,248 DAYS

Price: $2,321,900 | PSF: ~$1,600

Buyer: Carlos Alberto Reynier | Agent: Maria Tonante

Brokerage: Local & International Realty Corp

Contract created: November 30, 2022 — 3 years, 4 months ago

Status "Hard Contract" but not firm. Florida Condominium Act statute of limitations risk. Requires immediate legal review: terminate or cure.

Unit 902

Floor 9 · Active Offer · T1 Tranche

624 DAYS

Price: $1,600,900 | PSF: ~$1,100

Buyer: Victor Manuel Campomanes Torres | Agent: Luis Iglesias

Brokerage: Fortune International Realty Inc

Contract created: July 23, 2024 — 21 months ago

18 prior contract attempts on this unit since 2022 (all rescinded). "Jessy Hernandez" appears 8 times — likely test data. Unit has never successfully closed. May be cursed inventory requiring re-pricing or repositioning.

9 — Sales Velocity 🟢 Timeline · Contracts per Month (2022–2026)

22

63

49

35

45

22

15

38

21

3

6

2022 (284)2023 (131)2024 (136)2025 (63)2026 (15)

Velocity collapse: Peak 63/month (Apr 2022) → 5/month (2026 avg). The 2023 Feb spike (38) was a single event-driven surge. Since mid-2024, no month has exceeded 18. At 5/mo, clearing 94 unfirm units takes 19 months — past T3 TCO.

10 — Cancellation Risk 🟡 · ~22% Adjusted Rescission Rate

~22%

Historical Rescission Rate

192 of 645 contracts (excl. rejected offers)

312

Active Contracts

307 hard + 4 prepping + 1 resc.

1

Active Rescission

Unit 5204 · $3.45M

0

Assignments / Flips

No secondary market

Rescissions by Year

169

2022

64

2023

69

2024

28

2025

4

2026

305 sold units across 312 active contracts (307 Hard + 4 Prepping + 1 In Rescission). The 645 CRM records include test entries ("Jessy Hernandez" = 23 fake rescissions on floors 7-9), duplicate entries for unit swaps (agent notes confirm buyers moving between units — e.g., "sold 6105, that moved to 6304"), and rejected offers (142). Adjusted true rescission rate: ~22-23% (140-150 genuine cancellations out of 645) — in line with the Miami pre-construction average of 15-25%. The 312 current active contracts show exactly 1.00 contract per unit with no double-counting. The good news: rescissions are trending sharply down (169 in 2022 → 28 in 2025 → 4 YTD 2026). The bad news: zero assignments means no secondary market validation — buyers are either holding to close or walking away, with nothing in between. At TCO, expect 5-10% of "firm" contracts to fail to close (15-30 units, $40-85M).

11 — Deposit Collection 🟠 · $42.2M Overdue Across 186 Milestones

$440.7M

Total Owed

$249.1M

Total Collected

$42.2M

Past Due & Unpaid

56.5%

Collection Rate

Overdue by Aging Bucket

0.5%

4.1%

$32.8M (20%)

1%

$118.5M OVERDUE 365+ DAYS (73.8%)

AGING	MILESTONES	AMOUNT	SEVERITY
0–30 days	4	$813,498	LOW
31–90 days	32	$6,553,680	MEDIUM
91–180 days	137	$32,802,029	HIGH
181–365 days	8	$1,840,061	HIGH
365+ days	477	$118,507,824	CRITICAL

Prior analysis showed $42.2M overdue — but $118.4M of that was phantom debt on rescinded contracts. The REAL overdue on active contracts is $42.2M across 186 milestones. 477 deposit milestones totaling $118.5M have been delinquent for over a year with no cure action on file. This is not a collection timing issue — it is a systemic enforcement failure. Lender covenant exposure is acute.

⚠️ Confidence: LOW-MEDIUM. Spark shows 611 milestones as "Payment Overdue" and 69 as "Up to Date" despite passed due dates. Deposit schedules may have been renegotiated without updating Spark dates. The $42.2M figure should be verified against escrow records before presenting to lender or board.

12 — Buyer Source Attribution 🟡 · Buyer Source Attribution (304 Active Firm Contracts)

56.6%

Broker Referral

316 deals · $784M

16.1%

Unknown / Untagged

90 deals · $230M

6.8%

Referral (Non-Broker)

38 deals · $95M

Source	Deals	%	Volume
Broker	316	56.6%	$784.0M
Unknown	90	16.1%	$230.2M
Referral	38	6.8%	$95.3M
Other	29	5.2%	$62.8M
Web Search	20	3.6%	$54.5M
In-House Agent Outreach	18	3.2%	$38.5M
Events (LatAm roadshows)	21	3.8%	$48.9M
Drive-by	9	1.6%	$25.5M
Eblast	5	0.9%	$11.4M
Social Media	2	0.4%	$6.2M

Events are underweighted: LatAm roadshows (Buenos Aires, Bogotá, Mexico City, São Paulo, Peru, Chile) produced 21 firm contracts ($48.9M) from a fraction of the budget. Social media: 2 contracts all-time ($6.2M). Every dollar moved from Meta to events has 10× the yield in firm contracts.

Methodology note: The "97% evaporation" compares monthly lead inflow (170) to monthly contract output (5). These are different populations — new leads vs. contracts from leads received months/years ago. A proper cohort conversion analysis requires tracking each lead class through to contract. The directional conclusion is valid (digital channels produce almost zero contracts) but the 97% figure overstates the case. The real question is not evaporation rate but cost-per-contract by channel — and by that measure, FB/IG and Google Ads are effectively infinite cost-per-contract.

Channel Verdict & Action

Channel	Output	Verdict	Action
Facebook / Instagram	2 ALL-TIME	ELIMINATE	Redirect 100% of Meta budget to events + LinkedIn
Google Ads	11 ALL-TIME	CUT 70%	Retain branded keyword defense only
LinkedIn	+67% MoM	SCALE 3x	Target Miami-bound finance/tech C-suite; family offices
Events (São Paulo model)	87 registrants	3-50x ROI	Book: CDMX, Buenos Aires, Bogotá, Monterrey, NYC
Website Mobile	LCP 41.7s	EMERGENCY	WebP, CDN, lazy load — target <2.5s within 30 days

13 — Buyer Geography 🟡 · CRM Data vs. Event Strategy Alignment

Actual Buyer Nationality (558 firm contracts, Spark CRM)

🇺🇸 USA

52.7%

🇲🇽 Mexico

12.7%

🇨🇴 Colombia

3.0%

🇦🇷 Argentina

2.7%

🇨🇱 Chile

2.2%

🇧🇷 Brazil

1.8%

🇨🇦 Canada

1.8%

🌍 Other

10.1%

Unknown

12.0%

Event Strategy Alignment

USA (52.7%) — #1 buyer nationality (mostly Miami-based) LOCAL MARKET

Only 2 of 35 team events targeted US domestic (NYC). No Greenwich, Chicago, LA, Aspen, Palm Beach events. Half of buyers are American but the event circuit is 90% LatAm.

Mexico (12.7%) WELL-COVERED

Colombia (3.0%) WELL-COVERED

Brazil (1.8%) WELL-COVERED

UAE/Europe/Asia CO-BROKE ONLY

Event strategy aligns with acquisition challenge. US buyers (52.7%) are primarily Miami-based Latin Americans who discover the project locally (drive-bys, broker referrals, walk-ins). The LatAm event circuit (São Paulo, Mexico City, Bogotá, Buenos Aires) targets international capital-flight buyers who would NOT otherwise discover Cipriani — these are the hardest-to-reach prospects. Domestic events (NYC via NestSeekers, Greenwich) complement but are not the gap.

14 — Contact Engagement 🟠 · 4,765 Buyer Leads + 10,150 Broker Contacts

CRM Composition (14,964 total contacts)

10,150 Agents/Brokers (68%)

4,765 Buyers (32%)

68% of the CRM is agent/broker contacts — expected for a project where 82% of sales are outside-broker-originated. 69% of all logged interactions are with agents.

Interaction Volume

7,822

With Agents (69%)

3,461

With Buyers (31%)

Buyer Lead Engagement (4,765 real buyer contacts — excluding agents, brokers, test records)

52.2%

Never Contacted

2,489 buyer leads — zero interactions ever

97.0%

Not Touched in 30 Days

4,624 of 4,765 buyer leads

41

Active (Last 30 Days)

0.9% of buyer database

41

100

2,135 STALE (90+ days)

2,489 NEVER CONTACTED (52.2%)

Buyer Lead Inflow by Year

1,681

2022

1,287

2023

931

2024

689

2025

177

2026

2,489 buyer leads have never been contacted. Another 2,135 haven't been touched in 90+ days. Only 41 buyers are in active outreach (last 30 days). Lead inflow is declining: 1,681 in 2022 → 689 in 2025 → 177 YTD 2026. The 10,150 agent contacts are being worked (69% of interactions) — the team is managing brokers, not buyers. This is the correct strategy IF outside brokers close deals, but 2,489 untouched buyer leads represent potential direct-close opportunities being abandoned.

Note: Interaction data is from Spark RE only. If the sales team logs activity in other systems (email, WhatsApp, separate CRM), those touches would not appear here. This analysis should be validated with Fortuna's operations team.

15 — Commission Accountability 🟠 · Top 5 Brokerages by Volume

#	Brokerage	Deals	Sales Volume	Rate	Broker Earns	Fortuna Earns	Total Commission
1	Fortuna (Exclusive Agency) Sandra Del Castillo (78 deals, $6.1M comm) · Monica Defortuna · Luigi Ribeiro · Sergio Waissmann	99	$208.5M	4%	$8.3M	$8.3M	$8.3M
2	Fortune International Realty Alexandra Gonzalez, Dalia Levine +11 agents	27	$56.1M	9%	$3.4M	$1.7M	$5.1M
3	Coldwell Banker Adriana Resendez, Ariadna Romero +7 agents	14	$51.9M	9%	$3.1M	$1.6M	$4.7M
4	One Sotheby's International Realty Jaime Alfie, Jose Hernandez, Liana Valente +5	18	$49.5M	9%	$3.0M	$1.5M	$4.5M
5	Compass Florida Alexandra Floyd, Carlo Dipasquale +9 agents	16	$46.1M	9%	$2.8M	$1.4M	$4.1M
Top 5 Total		174	$412.1M		$20.6M	$14.4M	$26.7M

$93.3M

Total Commissions Paid

558 firm contracts

$36.6M

Fortuna Total Take

4% direct + 3% co-broke

$56.6M

Outside Brokers Take

6% on outside-brought

82%

Outside-Broker Volume Share

$944M of $1.15B brokered

Key insight: Sandra Del Castillo alone accounts for 78 of 99 Fortuna-direct deals ($153.4M, $6.1M commission) — she IS the Fortuna sales engine. Fortuna's direct volume ($208.5M) represents only 18% of brokered sales. Outside brokers drive 82% of volume but cost 9% vs. 4%. At current pace, the remaining 94 unfirm units will generate an estimated $15–21M in additional commissions depending on the outside-broker mix.

16 — Fortuna Sales Team 🟡 · 10 Agents · Event Production

C

Carol

Senior Agent · Brazil, Mexico, US West Coast

10 events · 282 registrants · EN/ES/PT

LATAM highest-volume producer. Dominates São Paulo.

M

Miche

Agent · NYC, Hamptons, Boca, West Palm

6 events · 182 registrants · EN

Northeast US specialist. NestSeekers relationship (38+ NYC).

M

Montse

Senior Agent · Brazil, Mexico, Italy, DR

4 events · 152 registrants · EN/ES

Wide international reach. Milan + Casa de Campo circuit.

S

Sandy

Agent · South FL, NYC, Peru, Colombia, Canada

5 events · 132 registrants · EN/ES

Broker breakfast specialist. Exp Realty, Christie's, FIABCI.

S

Stephan

Senior Agent · NYC, London, Monaco, Dubai

3 events · 113 registrants · EN/FR

International UHNW circuit. Dubai expo = 83 registrants (largest event).

E

Eli

Agent · Mexico City, Buenos Aires, Bogotá, Brickell

4 events · 87 registrants · EN/ES

LATAM event specialist. Haute Living CDMX.

4

Evelyn · Helaine · Liliana · Elizabeth

Agents · South FL Brokerages, Colombia, LATAM

3 events · 67 registrants combined · EN/ES/PT

Local FL broker circuit + LatAm-to-Florida bridge.

Team Totals

Agents: 10

Events: 35

Registrants: 1,015

Languages: EN/ES/PT/FR

17 — Brokerage Network 🟢 · 39 Firms · 13 Regions · Contact Directory

5 London

5 UAE

4 Hong Kong

3 NE US

3 Brazil

3 Mexico

3 Singapore

3 Geneva

2 Argentina

2 Colombia

2 California

2 Monaco

2 Aspen

39

Not Yet Contacted

0

Active Relationships

0

Closed Deals

Argentina

Firm	City	Phone	Email	Key Contact
Toribio Achával		+54 11 4819-4000	info@toribioachaval.com	Facundo de Achával Vice President
Tizado Propiedades		+54 9 11 3028-1000	—	—

Aspen

Firm	City	Phone	Email	Key Contact
Aspen Snowmass Sotheby's		+1 970-925-6060	info@aspensnowmasssir.com	David E. Harris Managing Broker
CB Mason Morse		+1 970-925-7000	info@masonmorse.com	Will Herndon CEO

Brazil

Firm	Phone	Email	Key Contact
Bossa Nova Sotheby's	+55 11 3061-0000	contato@bnsir.com.br	Marcello Gandini Romero CEO
Apsa Imobiliária	+55 21 3233-3000	centro@apsa.com.br	Leonardo Schneider Superintending Director...
Lopes Imóveis (LPS Luxury Pr...	+55 11 3067-0520	ouvidoria@lopes.com.br	Mirella Parpinelle Correa Founder & CEO, LPS Luxu...

California

Firm	City	Phone	Email	Key Contact
The Agency		+1 424-230-3700	info@theagencyre.com	Mauricio Umansky Founder & CEO
Compass Beverly Hills		+1 310-230-5478	info@compass.com	Alek Carrera Director, Founding Memb...

Colombia

Firm	City	Phone	Email	Key Contact
CB Colombia (Antares Inmobil...		+57 1 236-3099	adriana.diaz@cbcolombia.com.co	—
La Galería Inmobiliaria		+57 313-209-2861	—	Luisa Fernanda Armenta Echeverry Commercial Director (Di...

Geneva

Firm	Phone	Email	Key Contact
Cardis Sotheby's	+41 22 888 18 18	geneve@cardis.ch	Valentine Cardis CEO
Naef Prestige Knight Frank	+41 22 839 38 88	geneve@npkf.ch	Jacques Emery Sales Director, Naef Pr...
Engel & Völkers Geneva	+41 22 800 00 88	geneva@engelvoelkers.com	Costas Dambassinas Licence Partner & Manag...

Hong Kong

Firm	Phone	Email	Key Contact
Knight Frank Hong Kong	+852 2846 7418	IRS@hk.knightfrank.com	Daniel Anderson Head of International R...
List Sotheby's Hong Kong	+852 6063 9364	info@listsothebysrealtyhk.com	Franky Cho Chief Operating Officer
Christie's International Rea...	+852 6203 6369	anne.yeung@cirehk.com	Samson Law Managing Director
Savills Hong Kong	+852 2842 4400	onlinemarketing_hk@savills.com.hk	Mark Elliott Senior Director, Intern...

London

Firm	Phone	Email	Key Contact
Knight Frank Mayfair	+44 20 3925 1642	mayfair@knightfrank.com	Alastair Nicholson Partner & Head of Mayfa...
Savills Mayfair	+44 20 7578 5100	info@savills.co.uk	Nick Verdi Head of Sales, Mayfair
UK Sotheby's	+44 20 4586 7135	customercare@sothebysrealty.co.uk	Alex Isidro Managing Director
Beauchamp Estates	+44 20 7499 7722	londoninformation@beauchampestates.com	Jeremy Gee Managing Director
Wetherell	+44 20 7493 6935	info@wetherell.co.uk	Peter Wetherell Founder & Chairman

Mexico

Firm	Phone	Email	Key Contact
Mexico Sotheby's	+52 55 5929 5252	info@mexicosir.com	Javier Romero Managing Director
Christie's International Rea...	+52 984 217 1713	jason@christiesrealestatemexico.com	Jason Waller CEO
CB Mexico	+52 55 4162 1060	info@coldwellbanker.com.mx	—

Monaco

Firm	City	Phone	Email	Key Contact
John Taylor Monaco		+377 93 50 30 70	monaco@john-taylor.com	Tiago Viana Machado Managing Partner
Knight Frank Monaco (Balkin ...		+377 93 50 3000	info@balkinestates.com	Edward de Mallet Morgan Partner, Head of Monaco...

Ne Us

Firm	Phone	Email	Key Contact
Sotheby's Greenwich	+1 203-869-4343	—	Pamela S. Pagnani Senior Vice President &...
Brown Harris Stevens NYC	+1 212-508-7200	referrals@bhsusa.com	Bess Freedman CEO
Houlihan Lawrence	+1 914-220-7000	info@houlihanlawrence.com	Liz Nunan President & CEO

Singapore

Firm	Phone	Email	Key Contact
Knight Frank Singapore	+65 6848 5678	marketing.comm@sg.knightfrank.com	Nicholas Keong Senior Director & Head ...
List Sotheby's Singapore	+65 6256 0606	info@listsothebysrealty.sg	Hisashi Kitami CEO & Owner, List Group...
Savills Singapore	+65 6836 6888	info@savills.com.sg	Marcus Loo Chief Executive Officer

Uae

Firm	Phone	Email	Key Contact
Knight Frank Dubai	+971 50 240 1925	KnightFrankUAE@me.KnightFrank.com	Petri Mannila Head of Prime Residenti...
Christie's International Rea...	+971 4 425 2780	info@christiesrealestatedubai.com	Hasnain Chaudhry Executive Director, Cor...
Allsopp & Allsopp	+971 4 429 4444	info@allsoppandallsopp.com	Carl Allsopp CEO
CB UAE	+971 4 439 1200	info@coldwellbanker.ae	Ayman Youssef Managing Director
Engel & Völkers Dubai	+971 4 422 3500	dubai@engelvoelkers.com	Roman Klott Chief Operating Officer...

● Tier 1 (19 firms)

● Tier 2 (20 firms)

Zero firms contacted. 39 global brokerages identified, zero outreach initiated. Outside brokers drive 82% of sales volume ($944M). This network is the single largest untapped sales accelerant. Tier 1 firms should receive Cipriani packages within 14 days. Commission: standard 6% co-broke.

Spark CRM Brokerage Database

1,842

Brokerages in CRM

123

Closed 1+ Deal (6.7%)

1,719

Zero Deals Ever (93.3%)

Cross-referencing the 39 target firms above against these 1,842 CRM records would identify which are already in Spark but dormant — and which are missing entirely.

18 — Campaign Pipeline 🟡 · 60 Strategic Tasks by Channel

30

Broker

1 urgent · 16 high

17

General

3 urgent · 8 high

8

LATAM

6 high · 2 normal

3

Closing

1 urgent · 2 high

2

Middle East

1 high · 1 normal

Broker 30 tasks 1 urgent · 16 high · 13 normal

PRIORITY	TASK	DATE	TRANCHE
URGENT	FLIBS 2026 reception: invite 30+ named yacht brokers, build pipeline	Oct 29, 2026	T3
HIGH	Broker pipeline review with Fortuna (weekly)	Apr 14, 2026	--
HIGH	Outside broker outreach -- top international desks (weekly)	Apr 15, 2026	--
HIGH	Co-broke commission spiff calibration	Apr 16, 2026	--
HIGH	Confirm FLIBS 2026 sponsorship + reception venue	May 4, 2026	T3
HIGH	Build target list: 25 named JPM Private Bank advisors covering FL/NY/SF/LA	May 5, 2026	--
HIGH	Submit Cipriani for Tiger 21 FL chapter member presentation slot	May 8, 2026	T3
HIGH	Build target list of top 30 yacht brokers serving Miami/Caribbean	May 13, 2026	--
HIGH	Build database of 30 single-family offices in NYC/Greenwich/Palm Beach with $100M+ AUM	May 20, 2026	--
HIGH	Schedule 5 advisor lunches in Miami: JPM PB, MS PWM, Goldman PWM, UBS, BNY Mellon	May 26, 2026	--
HIGH	Engage Bilzin Sumberg (Miami) as primary attorney partner for Cipriani referrals	May 27, 2026	--
HIGH	Sponsor Bilzin Sumberg's family office breakfast	Jun 3, 2026	--
HIGH	CLE sponsorship at NY State Bar Trusts & Estates section meeting	Jun 4, 2026	--
HIGH	Direct outreach to top 30 yacht brokers with co-broke incentive structure	Jun 8, 2026	--
HIGH	Host private "Cipriani Walkthrough" event for top 15 advisors at sales gallery	Jul 15, 2026	--
HIGH	Attend Opal Family Office Forum (Newport, RI)	Jul 20, 2026	T3
HIGH	Host Cipriani-branded MFO advisor cocktail reception in Miami	Sep 29, 2026	--
HIGH	Partner with Bilzin Sumberg or Greenberg Traurig family office practice for Q4 dinner	Oct 8, 2026	--
HIGH	Pre-Art Basel advisor dinner at Cipriani sales gallery	Nov 12, 2026	--
HIGH	Cipriani booth at Miami International Boat Show (Feb 2027)	Jan 12, 2027	T1
NORMAL	Aviation broker outreach: top 10 private jet sales firms	Jun 10, 2026	T3
NORMAL	Send Q2 update letter to 50 named advisors in NYC, Chicago, LA, SF, Boston	Jun 15, 2026	--
NORMAL	Direct mail: Cipriani delivery timeline + tax angle to 30 SFO contacts	Jun 22, 2026	--
NORMAL	NetJets / Wheels Up partnership inquiry: in-cabin Cipriani magazine placement	Jun 25, 2026	--
NORMAL	Identify 10 named Bessemer Trust advisors and book 3 introductory calls	Aug 4, 2026	--
NORMAL	Sponsor Vista Global member event in Miami	Aug 12, 2026	--
NORMAL	Burgess yacht brokerage partnership: shared Cipriani showcase	Aug 19, 2026	T3
NORMAL	R360 quarterly meeting sponsorship	Sep 9, 2026	T3
NORMAL	Q3 advisor outreach push: 25 named contacts, building delivery progress angle	Sep 15, 2026	--
NORMAL	Family Office Exchange annual conference attendance	Oct 14, 2026	--
NORMAL	Year-end advisor gift: Cipriani-branded coffee table book to top 50	Dec 10, 2026	--
NORMAL	Year-end SFO holiday outreach: personalized gift + delivery progress card	Dec 15, 2026	--
NORMAL	Palm Beach International Boat Show 2027 sponsorship planning	Dec 15, 2026	T3

General 17 tasks 3 urgent · 8 high · 6 normal

PRIORITY	TASK	DATE	TRANCHE
URGENT	Respond to every Bilzin Sumberg referral within 24 hours (recurring)	May 27, 2026	--
URGENT	Host "Cipriani Owner Cocktail" at sales gallery for top 30 firm buyers	Sep 26, 2026	--
URGENT	Pre-TCO buyer event for firm-sold owners: meet your neighbors, tour your unit	Jan 15, 2027	T1
HIGH	Mast leadership sync -- strategic recap (monthly)	Apr 29, 2026	--
HIGH	Build target list of 20 top NY/CA/IL HNW estate planning attorneys	May 6, 2026	--
HIGH	Curate Cipriani investor deck for HNW wealth advisors	May 12, 2026	--
HIGH	Translate Cipriani sales materials into Portuguese, Spanish, Arabic	May 13, 2026	--
HIGH	Position paper: "Cipriani as a Florida tax-residency anchor"	May 19, 2026	--
HIGH	Letter to all 304 firm-sold buyers introducing referral program	Jun 1, 2026	--
HIGH	Quarterly outreach to top 50 firm-sold buyers (most influential)	Sep 8, 2026	--
HIGH	Host "Cipriani for High-Net-Worth Relocators" CLE event in NYC	Sep 22, 2026	--
HIGH	Q4 outreach to 20 attorneys with year-end tax planning angle	Nov 18, 2026	--
NORMAL	Deposit schedule health check (weekly)	Apr 9, 2026	--
NORMAL	Cohort pipeline review -- LatAm + Middle East + North America	May 8, 2026	--
NORMAL	Set up referral tracking in Spark CRM (custom field per buyer)	May 25, 2026	--
NORMAL	Quarterly legal newsletter: Cipriani delivery progress + FL homestead tax briefing	Aug 5, 2026	--
NORMAL	Track conversion: referrals to introductions to contracts (monthly)	Aug 31, 2026	--
NORMAL	Highlight top 5 referrer-buyers in quarterly Mast report	Sep 30, 2026	--

LATAM 8 tasks 6 high · 2 normal

PRIORITY	TASK	DATE	TRANCHE
HIGH	Sponsor Brazilian-American Chamber of Miami quarterly mixer	May 15, 2026	--
HIGH	Build relationship with Brazilian-American Chamber top 10 HNW members	May 20, 2026	--
HIGH	Brazil broker tour: São Paulo + Rio (Fortuna agent travel)	Jun 9, 2026	--
HIGH	Cipriani-branded reception at Wharton Latino Alumni event in Mexico City	Jun 12, 2026	--
HIGH	Mexico City + Bogotá broker tour	Jun 16, 2026	--
HIGH	Mexico-US Chamber annual gala sponsorship	Sep 18, 2026	--
NORMAL	Direct outreach to top 10 immigration lawyers serving HNW LatAm clients	Jun 17, 2026	--
NORMAL	Colombian-American Chamber of Commerce Miami partnership	Jun 23, 2026	--

Closing Incentive 3 tasks 1 urgent · 2 high

PRIORITY	TASK	DATE	TRANCHE
URGENT	Get Mast Capital approval for referral budget ($1M+ committed)	May 15, 2026	--
HIGH	Design referral incentive structure with Mast	May 4, 2026	--
HIGH	Build referral compensation structure for advisors	Aug 18, 2026	--

Middle East 2 tasks 1 high · 1 normal

PRIORITY	TASK	DATE	TRANCHE
HIGH	Dubai HNW family office visit (Fortuna leadership)	Jul 8, 2026	--
NORMAL	Lebanese American Chamber of Commerce sponsorship	Sep 1, 2026	--

19 — Market Context 🔵

Brickell Supply & Demand

Brickell months of supply: ~17 months (balanced = 6 months) — BrickellSold Q1 2026
Brickell luxury avg PSF: $1,045, +12% in 2026 — BrickellSold
54.2% of Miami condo sales in cash (Jan 2026), double national avg — Space Coast Daily
Ultra-luxury ($2M+) Q2 2025: $1,544/sqft (+6.3% YoY) — CondoBlackBook
Miami Beach luxury PSF: $1,292 overall; South Beach ~$1,538 — Million Luxury

Branded Residence Context

Miami: #2 globally for branded residences (behind Dubai only) — Savills/Forbes
45 completed + 50+ pipeline branded projects in Miami — Forbes Mar 2026
Branded residences command 20-30% premium over non-branded — BrickellSold 2026
Global branded residences: 910 in 2025 (vs. 323 in 2015); to 1,747 by 2032 — WWD/Savills
Miami $10B+ luxury pipeline: 5 delivery waves; Cipriani in Wave 3 (2027-28) — Manhattan Miami

20 — Competitive PSF Positioning 🟡 · Cipriani is the Value Play

Average PSF by Branded Brickell/Miami Project

Perigon

$3,000

888 D&G

$2,500 ⚠ JDS/STERN

St. Regis

$2,200

Una Residences

$2,207 DELIVERED

1428 Brickell

$2,000

MB Places

$1,800 🚨 FORECLOSURE

CIPRIANI

$1,400 avg

Projected: $1,550+

Cipriani is the lowest PSF branded product in Brickell. At $1,400 avg, buyers get more square footage per dollar than any competitor — while getting the only brand that operates (not licenses) its hospitality program. This is the pitch: "Branded quality at non-branded pricing, from a developer who's already topped off another tower this cycle."

21 — Competitor Intelligence 🔵

St. Regis Residences Brickell

Related Group + Integra · 1809 Brickell Ave · ~152 units · TCO Q4 2027

RISK 5 ●●●●●

PSF $2,200–$3,500Price $4.6M–$24M50 Stories

SALES MOVEForbes (Mar 21, 2026): St. Regis launched its "Legacy Collection" — 7 of the tower's priciest/largest residences, including two-story duplexes with double-height living rooms, positioned as "penthouse-like experiences on middle floors." Prices from $4.6M per Brown Harris Stevens (updated Feb 2026). Under construction; MiamiCondoInvestments confirms Q4 2027 target. 50,000+ sqft amenities, butler service, private marina, Fabio Trabocchi restaurant.

⚡ Legacy Collection signals clearing of last premium inventory via press-driven campaign. TCO Q4 2027 aligns with Cipriani T1/T2 — both buildings compete for same buyer's closing attention simultaneously. Related Group marketing machine at full strength. Monitor their LatAm event calendar closely.

888 Brickell by Dolce & Gabbana

JDS Development (Stern) · 888 Brickell Ave · 259 units · TCO Q2 2029

RISK 5 ●●●●●

PSF $2,500–$4,000Price $4M–$50M90 Stories · 1,049 ft

⚠ DEV RISKCRITICAL: Developer Michael Stern (JDS) is the same developer behind the MB Places foreclosure (Apr 6, 2026). Stern's attorneys withdrew from a separate Miami lawsuit Dec 2025 citing "irreconcilable differences." TRD (Apr 8) documents Stern replaced as developer on multiple prior projects + investor fraud lawsuit. 888 is pre-construction; no construction loan confirmed as of this brief. FIU students received VR tour (no physical site).

⚡ JDS's MB Places crisis creates contagion risk for 888 D&G. Do not let sales conversations avoid this topic. Proactively: "Mast Capital has funded construction, we are vertical, delivering 2027 — two years ahead of D&G's 2029 target." Cipriani's 24-month delivery advantage is now also a developer-stability advantage.

Mercedes-Benz Places

JDS Development · 191 SW 12th St · 791 units (2 towers) · TCO Jun 2028

RISK 4 ●●●●

PSF $1,800–$3,000Price $1.5M–$15M🚨 FORECLOSURE

BREAKING APR 6The Real Deal + Bisnow: Cottonwood Group filed foreclosure after acquiring JDS's $85M bridge loan. Missed Jan 2025 maturity. Now owes ~$100M ($80.4M principal + ~$20M interest), accruing $53,621/day. Construction started 2024. Reddit r/Miami: site gone dark, no activity for a month. Six contractor liens filed. JDS attorneys withdrew from separate suit Dec 2025 citing irreconcilable differences. JDS claims $750M package being assembled.

🎯 CONVERSION PLAY: Largest immediate opportunity. MB Places buyers purchased at $1,800–$3,000 PSF from a developer now in foreclosure. Identify via public records and broker network. Outreach: "Cipriani — funded, vertical, Mast Capital, 2027 delivery." Do not mention price. Position on certainty and developer stability.

The Residences at 1428 Brickell

Ytech (Yamal Yidios) · 1428 Brickell Ave · 195 units · TCO Q4 2027/Q1 2028

RISK 4 ●●●●

PSF $2,000–$3,500Price $2.5M–$30M70 Stories

STATUSMulti-Housing News: Ytech secured $565M construction financing. Official site confirms "Funded by J.P. Morgan. Under Construction. Going Vertical." Gold Winner — Urban Design & Architecture Awards 2026. World's first solar-powered residential tower (500 photovoltaic panels). ACPV Architects (Antonio Citterio). Delivery Q4 2027 per NewConstructionCondoMiami. Two $60M penthouses (30-ft ceilings, 7BR/9BA).

⚡ 1428 is Cipriani's nearest direct competitor by delivery timing and buyer profile. Key differentiators: Cipriani has operational hospitality (dining, events, service culture). 1428 offers design excellence — a brand license, not an operator. 1428 is not on water; Cipriani's bay proximity is factual. Solar PR wins headlines but adds no lifestyle value. Press the operations/service angle.

Una Residences

OKO Group + Cain · 175 SE 25th Rd · 135 units · TCO Feb 2026 — DELIVERED

RISK 3 ●●●

Price $6.2M–$10.8MAvg PSF ~$2,207✓ DELIVERED

TCO FEB 2026Community Newspapers (Mar 2026): Una received TCO from City of Miami in February 2026. Closings underway. 90%+ presold. Penthouses set Brickell submarket record at $17.75M each. 47 stories, 135 units, private marina. OKO Group/Cain International. NOTE: UNA defect allegations are UNVERIFIED — do not cite in any competitive context.

⚡ Una's $6.2M–$10.8M closings establish the Brickell luxury waterfront floor. Its 90%+ presold delivery validates the thesis. Use Una closing prices (when MLS-available) as comparable floor for Cipriani T3 pricing conversations. Una's success is proof-of-market, not threat.

Casa Bella by B&B Italia

Related Group + Alta · 1400 Biscayne Blvd · 318 units · Delivery Summer 2026

RISK 3 ●●●

Price $700K–$12.6M+57 StoriesDelivery Jun 2026

NEAR DELIVERYWWD: Expected Summer 2026 completion. $240M construction loan from Cain International. Record penthouse: 5,893 sqft at $12.6M. Strong sales at Arts & Entertainment District location — distinct from Brickell. Related Group operator credibility. Piero Lissoni + B&B Italia interiors.

⚡ Casa Bella's lower price floor ($700K–$4M range) serves a different buyer segment. Its imminent delivery this summer will absorb a tranche of buyer intent. Cipriani should use Casa Bella's delivery as proof that the Miami luxury pipeline delivers on schedule — and position Cipriani's 2027 TCO as just 12 months behind, with superior Brickell location and Cipriani's operational service advantage.

Aston Martin Residences

G&G Business Dev (Germán Coto) · 300 Biscayne Blvd · 391 units · DELIVERED 2024

RISK 3 ●●●

Price $995K–$59M66 Stories⚖ FRAUD CONFIRMED

FRAUD — CONFIRMEDMiami Herald (Feb 5, 2026) + The Real Deal (Feb 3, 2026): Condo association filed suit against developer Germán Coto alleging "fraudulent scheme" — "immense shell game" via condo association contracts to self-dealing companies. No-bid contracts for security, cleaning, IT, concierge all went to Coto-controlled entities at inflated rates. $70K rent charged to association for unit Coto's LLC owned (used as sales office). Lawsuit seeks $5M+. 10 LLCs, 7 individuals named including Coto's mother. Developer computers allegedly wiped before handover. "I've never seen this level of arrogance," said attorney David Haber.

⚡ Aston Martin = definitive bait-and-switch cautionary tale. Cipriani use case: "At Aston Martin, buyers got a logo and got defrauded by the developer. At Cipriani, you get the operator who runs Harry's Bar — who has skin in the game of every day you live here." Permission-granted comparison in every brand-authenticity conversation.

Aman Miami Beach Residences

OKO Group + Access Industries · 3425 Collins Ave · 22 units · Delivery 2027

RISK 2 ●●

Price $25M–$100M18 Stories · Kengo KumaFULLY SOLD

TOPPED OFF Q1 2026Florida YIMBY: 18-story Kengo Kuma tower topped off early 2026 (vertical began Aug 2025, one floor every two weeks). $242.4M construction loan Bank OZK. All 22 residences fully pre-sold. OKO Group (Vlad Doronin) — same developer as Una Residences. Restored Versailles Hotel (56 Aman hotel keys).

⚡ Aman is non-competing (22 units, $25M+ floor, Miami Beach, fully sold). Its market significance: proves operators command 100% sell-through vs. logo-licensors. Aman's sell-out at $25M+ is a proof point Cipriani team should reference when challenged on brand premium rationale.

The Perigon Miami Beach

Mast Capital + Starwood Capital · 5333 Collins Ave · 73 units · Delivery 2027

RISK 2 ●●

Entry $12.55M+17 Stories · OMA/KoolhaasTOPPED OUT Mar 2026

TOP-OFF MAR 16 2026Florida YIMBY + PROFILEmiami (Mar 16, 2026): First new oceanfront residential tower in this cycle in Miami Beach to reach full height. 75%+ units sold, $12.55M entry. $390M construction loan (Eldridge). OMA/Rem Koolhaas architecture. Tara Bernerd interiors. Michelin-starred Shaun Hergatt private restaurant. Developer: Mast Capital — same as Cipriani Residences Miami.

⚡ Perigon's top-off is a Mast Capital credibility proof point. "Our developer just topped the first new oceanfront tower in Miami Beach this cycle — they deliver." Non-competing by location and price tier; an ally-brand for Mast Capital's reputation. Active use in every sales conversation about developer credibility.

Five Park Miami Beach

Terra Group + GFO Investments · 500 Alton Rd · 280 units · DELIVERED 2023

RISK 2 ●●

Price ~$2M–$20M+48 Stories · South of FifthDELIVERED

RESALE ACTIVEIvan & Mike (2026): $69M+ in combined Five Park transactions through 2026. Miami Beach's tallest tower (518 ft, 48 stories). Canopy Penthouses at $19M and $20M listed. 6 sales recorded January 2026. First high-rise in South Beach since 2007 Continuum South Tower. Developer Terra — also developed Mr. C Residences.

⚡ Five Park resale buyers considering the secondary market are buying 18 months ahead of Cipriani's delivery but into SoFi lifestyle, not Brickell financial district. Target Five Park resale buyers who are reconsidering with construction tour invitation and 2027 delivery proximity pitch.

22 — Website Health Audit · ciprianiresidencesmiami.com 🟢

F

OVERALL

This website is actively losing sales.

No meta description. No Open Graph tags. No H1 tag. No schema markup. No Facebook Pixel. No GTM. 7 images with no alt text. Content-Type served as text/plain. For a $1.2B project, the web presence is a liability, not an asset. Every international buyer who Googles "Cipriani Miami" and lands on this site on their phone waits 40+ seconds and sees no SEO signals.

27

PageSpeed Mobile

🟡 Manual · Apr 7

41.7s

LCP (Largest Paint)

Target: <2.5s

174KB

HTML Size

11.27MB total w/ assets

16

Sitemap URLs

Hosted on Netlify

On-Page SEO

✅ Title tag: "Cipriani Residences Miami | The Official Website"

❌ Meta description: MISSING — Google shows nothing

❌ Canonical URL: MISSING — duplicate content risk

❌ Open Graph tags: ZERO — WhatsApp/LinkedIn shares show blank

❌ H1 tag: MISSING — no primary heading

⚠️ H2 tags: 1 found ("CIPRIANI LEGACY")

❌ Schema/JSON-LD: ZERO — no structured data for Google

❌ Image alt text: 0 of 7 images have alt text

Technical & Tracking

✅ Google Tag (gtag.js): Present

❌ GTM container: MISSING

❌ Facebook Pixel: MISSING — StrategyMedia claims 170 leads/mo from digital but no pixel is installed

✅ HSTS: Enabled (max-age=31536000)

❌ Content-Type: Served as text/plain — should be text/html

❌ X-Frame-Options: MISSING

❌ CSP: MISSING

✅ robots.txt: Present, allows all

✅ sitemap.xml: 16 URLs indexed

No Facebook Pixel installed. StrategyMedia reports 170 digital leads/month. If there is no Facebook Pixel on the site, how are FB/IG campaigns tracking conversions? Either: (a) the pixel was removed/broken, (b) it loads asynchronously and wasn't in the initial HTML, or (c) StrategyMedia is reporting platform-side metrics that don't connect to actual site behavior. This should be verified immediately — it may explain the 97% evaporation rate.

Minimum viable fix list (1 developer, 1 week): Add meta description + OG tags (2 hours). Add H1 + alt text on images (1 hour). Add JSON-LD RealEstateListing schema (2 hours). Fix Content-Type header in Netlify config (10 minutes). Install GTM container (30 minutes). Verify/reinstall FB Pixel (1 hour). These are table-stakes SEO that every $50K website has. A $1.2B project without them is leaving money on the table.

23 — Media & Social Presence 🟡

22K

Instagram

@ciprianiresidencesmiami →

1K

Facebook

/ciprianiresidencesmia →

0

No project page

0

X / Twitter

No account

Key Independent Voices

David Siddons

LuxLife Miami Blog

Douglas Elliman · YouTube

Lucas Lechuga

Miami Condo Investments

YouTube · LinkedIn

Demetri Demascus

PROFILEmiami

Broke Messi story · IG Reels

Sep Niakan

CondoBlackBook

Monthly pre-con market data

Florida YIMBY

Construction tracker

6+ milestone articles

Tier 1 Press Coverage

IG @ciprianiresidencesmiami · IG @mastcapital (10K) · LinkedIn Mast Capital (6.8K)
Bloomberg · The Real Deal · Commercial Observer · Robb Report · Cultured Magazine · World Red Eye

The Messi Moment (Apr 2025): 4 units purchased incl. Canaletto Collection. Viral across sports, finance, lifestyle media globally.

Gaps & Risks

❌ No LinkedIn page — 10 leads/mo growing 67% MoM but nowhere to land them

❌ No X/Twitter — missing financial/tech audience

❌ No public construction cam — buyers can't watch progress

⚠️ Zero Reddit discussion (no organic word-of-mouth)

⚠️ YouTube dominated by broker agents, not lifestyle creators

24 — Conversion Targets 🔵 · Distressed Competitor Buyer Poaching

🎯

PROVEN PLAYBOOK: Messi (Unit 4705 / ALDOLE LLC) → Cipriani (4 units, Canaletto Collection)

Porsche Design Tower sinking 0.8-3 inches/decade (U of Miami study). Subsidence + brand fatigue = exit motivation. Cipriani = funded, vertical, Brickell. Every owner below is a proven $2M-$25M luxury condo buyer. This section identifies them by name.

MB Places

RISK 5

791 units · Brickell · FORECLOSURE

⚡ Active foreclosure April 6, 2026

Sales team: SERHANT.

Interest: $53,621/day

MLS assignments: 11 active

888 Brickell D&G

RISK 5

259 units · Same developer (JDS) · Contagion

⚡ JDS developer in crisis

Sales team: One Sotheby's

MLS resales: 9 active at $807/sqft

Developer PSF: $2,500+ (68% premium to resale)

Porsche Design Tower

RISK 3

132 units · Sunny Isles · DELIVERED

⚠️ Subsidence confirmed · HOA lawsuits

Owners on file: 132

LLCs/Corps: 82 · Individuals: 39 · Trusts: 11

Proof: Messi already moved here → Cipriani

Aston Martin Residences

RISK 3

391 units · DELIVERED · 6+ lawsuits

⚠️ Developer fraud ($5M+) — Coto shell game

Marc Anthony sold at loss ($8.6M vs $11M). Multiple plaintiffs actively suing.

Arte Surfside + 1000 Museum

RISK 2-3

High-value single targets

Ramzi Musallam (Veritas Capital) — suing Arte for $33M PH defects

Ken Griffin — listed 1000 Museum PH at $21M

Named Conversion Targets · Priority Outreach List

NAME	BUILDING	DETAIL	PRIORITY
Lionel Messi ✓	Porsche Unit 4705	ALDOLE LLC — ALREADY AT CIPRIANI (4 units, Canaletto Collection). THE PLAYBOOK.	PROOF
Carlos Peralta Quintero	Porsche Unit 1101	CPQ Property Holdings LLC — Mexican billionaire, Chairman Grupo IUSA	CRITICAL
Gianluca Vacchi	MB Places	Sued JDS, demanded $35M refund	CRITICAL
Ramzi Musallam	Arte Surfside	Veritas Capital CEO — suing for $33M PH defects	CRITICAL
Carlos "CarGo" Gonzalez	Porsche Unit 2101	Former Colorado Rockies MLB star — high-profile sports figure	HIGH
Ken Griffin	1000 Museum	Listed PH at $21M — repositioning	HIGH
Terry R. Taylor	Porsche PH-1	US car dealer mogul — $25M penthouse, subsidence exposure	HIGH
Lloyd W. Howell Jr.	Porsche Unit 3303	Booz Allen Hamilton CFO — $6.8M unit	HIGH
Gregg G. Williams	Aston Martin	$21M unit — active lawsuit plaintiff	HIGH
Lloyd W. Howell Jr.	Porsche Unit 3303	Named in distressed buyer research	HIGH
Marc Anthony	Aston Martin	Sold at loss ($8.6M vs $11M) — already exiting	MEDIUM
Keith Swirsky	Aston Martin	Plaintiff in Coto fraud lawsuit	MEDIUM
Michael Shvartsman	Porsche Unit 2701	Known Miami investor	MEDIUM
Gil Dezer (WATCH)	Porsche Unit 4401	Developer of the building itself — insider signal if he exits	WATCH
Tara Karawia ⚠️	Porsche Unit 2205	Unit previously federally seized in $1B PDVSA laundering — DO NOT APPROACH	BLACKLIST

Porsche Design Tower · Full Owner Registry (132 Units)

Source: Miami-Dade Property Appraiser · April 11, 2026

UNIT

OWNER

CO-OWNER / C/O

PH-1

TERRY R TAYLOR

CARLA PROPHETE TAYLOR

PH-2

BARRY M BRANDT TRS

UNIT PH 2 LAND TRUST

1101

CPQ PROPERTY HOLDINGS LLC

C/O LUIS GARCIA-FANJUL

1501

PORSCHE LLC

—

3303

LLOYD W HOWELL JR

PATRICIA S HOWELL

4204

PORSCHE DESIGN VENTURES LLC

—

▸ Show all 132 owners

1001

MARC JAUDE

—

1005

MSTONE INTERNATIONAL CORPORATION

LLC

1105

PD HOLDINGS LLC

—

1201

ARIF N BHALWANI

—

1205

BARCELOS PROPERTIES LP

—

1401

PSE 1401 LLC

—

1403

PDT 1403 LLC

—

1405

PDTM 1405 LLC

—

1503

PDT REAL ESTATE INVESTMENT

C/O ALEXANDRE PIQUET

1505

ANDREA ROMANELLO FERDINAND

BRIAN FERDINAND

1601

WALTER WILLIAM STRANKMAN III TRS

MELANIE HARGROVE STANKMAN

1603

CAROLINE C WILLIAMS TRS

STARWOOD TRUST

1605

CHINGIZ ASKEROV

—

1701

BRECK HUGHES

BOZANA HUGHES

1703

MARIMAC U S INC

—

1705

C AND D 1705 LLC

—

1801

GRAHAM SHARP

—

1803

GERMANY HOUSE LLC

—

1805

AVIV BARAN TRS

AVIV BARAN MAIN TRUST

1901

MB PDT 1901 LLC

—

1903

PDT 1903 LLC

C/O DANIEL SERBER

1905

PDT 1905 LLC

—

2001

ROBERT E DAVIDS TRS

ROBERT E DAVIDS FAMILY TRUST

2003

PDT 2003 LLC

—

2005

ROBERT EUGENE DAVIDS TRS

ROBERT E DAVIDS FAMILY TRUST

2101

CARLOS GONZALEZ

INDONESIA B DE GONZALEZ

2103

P H S S EMPREENDIMENTOS

E PARTICIPACOES LTDA LLC

2105

GALAXY 2105 LLC

—

2201

PTM 2201 LLC

—

2203

MELROSE 15 5 CORP

—

2205

TARA KARAWIA

—

2301

COLLINS 2154 LLC

—

2303

GREEN HOUSE DOMESTIC HOLDINGS

TWO LLC

2305

AGROMIA LLC

—

2401

SUNNY 2401 INC

—

2403

MARFI LLC

—

2405

LIVE BLUE OCEAN LLC

—

2501

18555 COLLINS LLC

—

2503

VALERRY INTERNATIONAL CORP

—

2505

PDTM 2505 LLC

—

2601

SKY FARM II LLC

—

2603

SUNNY BEACH US INC

C/O BELOFF LAW PA

2605

WAKILISIMO LLC

—

2701

MICHAEL SHVARTSMAN

ALEXANDRA SHVARTSMAN

2703

DIMITRI LABORDE AYALA

ALICEL JOHANNA LAMAS MARTINEZ

2705

MFLP 1 LLC

—

2801

P CONDO 2801 LLC

—

2803

IAYUZBASHEV LLC

—

2805

KEVIN ALEX THOBIAS

—

2901

T 9 PORSCHE LLC

—

2903

AGOB INVESTMENTS LLC

—

2905

18555 SUNNY INVESTMENTS

PROPERTIES INC

3001

PDT 3001 LLC

—

3003

MOUT PROPERTIES LLC

—

3005

ALTAS ONDAS LLC

—

3101

AMADJATTHA LLC

—

3103

BLUE TALE LION LLC

—

3105

P3105 LLC

—

3201

PDT 3201 LLC

—

3203

JAHLIVES FOREVER LLC

—

3205

GREEN HOUSE DOMESTIC HOLDINGS

THREE LLC

3301

SEVEN OCEANS LLC

—

3305

CARLOS ALBERTO FERREIRA DA SILVA

—

3401

MICHELLE JUDD

—

3403

REF 12 LLC

—

3405

ITA 3405 LLC

C/O ALEXANDRE PIQUET

3501

DAVVIC INC

—

3503

25105 HOLDINGS LLC

—

3505

POR 3505 INC

—

3601

COLLINS AVE 3601 LLC

—

3603

ONIC LLC

—

3605

REAL EMPOWERMENT TRUST

—

3701

CHARLES JOSEPH GOLDMAN

—

3703

PDT 3703 LLC

—

3705

ROYALTY HOME LLC

—

3801

PDT 3801 LLC

—

3803

PDT 3803 LLC

—

3805

PDT 3805 LLC

—

3901

COLLINS U3901 LLC

C/O FOX HORAN AND CAMERINI

3903

PTOWER 3903 LLC

—

3905

NATSE INC

—

4001

SIMON M COHEN

—

4003

NB PROPERTY LLC

C/O FABIAN A PAL

4004

JACK A OLMSTEAD TRS

JACK A OLMSTEAD DECLAR OF TRUST

4005

GREGORY BURGESS TRS

GREGORY BURGESS DECLARATION OF TR

4201

PDT 4201 LLC

—

4203

GRUPO RESIDENCIAL PYASA SA DE CV

—

4205

JHMG GROUP LLC

—

4301

SARA G 01 LLC

—

4305

CC4 REAL ESTATE INVESTMENTS LLC

—

4401

GIL DEZERTZOV

—

4403

NETO MAFRA HOLDING LLC

—

4404

TAMARA ZAKHARCHENKO

—

4405

ALAN JAY WILDSTEIN

—

4601

PT HOLDINGS 4601 LLC

—

4603

ROCKET HOLDINGS LLC

—

4604

INVESTMENT ASSOCIATES COL LLC

—

4605

PT HOLDINGS 4605 LLC

—

4701

ELINOR TAIEB

—

4705

ALDOLE LLC

—

4801

EAGLE PORT LLC

—

4803

TODD NEPOLA

—

4804

SIGNATURE ESTATE PROPERTY

4804 LLC

4805

LAPMI INC

—

5001

CORMORANT INVESTMENT COMPANY LLC

—

5003

1000 BISCAYNE ENTERPRISES LLC

—

5004

AVIKAM YOHANAN

SHARON YOHANAN

5005

INVEST 5005 CORP

—

5101

5101 PDT LLC

—

5105

MOSHE LEVY

SUZY LEVY

5201

HERRERA & HERRERA MONEY TEAM LLC

—

5203

SAN MARCO ARGENTANO COMPANY

—

5204

ARGENTINA REAL ESTATE LLC

—

5205

RUBY BAY LLC

C/O VALERIA SCHWARTZMAN PA

5401

FELIKS VINOKUR

—

5403

RYAN ELHOSSEINY

—

5404

OLIVER DAWOUD

—

5405

P CONDO 5405 LLC

—

5501

ALEXANDER M MORTON

LUNA H MORTON

5505

DMITRII DREMLIUGA

—

701

GEORGIA NOTES HOLDINGS 701 LLC

C/O MCPHILLIPS LAW FIRM PA

705

G DERRICK ROBERTS TRS

G DERRICK ROBERTS LIVING TR

801

LUCIANO VASCONCELLOS

MARIA CECILIA VASCONCELLOS

805

MITCHELL P BAXT TRS

MITCHELL P BAXT LIVING TR

901

400 EAST MAIN STREET CORP

—

905

BLACK LION PROPERTY CORP

—

🔄 Live Monitoring Channels — Roark Agent (24/7)

Court Docket

CWRE v. 191 SW 12 Owner LLC — MB Places foreclosure. Weekly check for buyer intervenor motions, class actions.

MLS Assignments

MB Places (11 active) + 888 Brickell (9 active). Track new listings, price drops, days on market.

Property Appraiser

Porsche Tower (132), Aston Martin (391), 1000 Museum ownership changes. Flags new filings.

Press & Legal

Google News alerts for MB Places, JDS, Aston Martin lawsuits, Porsche Tower subsidence. Reddit r/Miami.

Brand monitoring active: The cloud agent web-searches for new Cipriani mentions every brief run — news articles, influencer posts, Reddit threads, buyer sentiment. Positive and negative mentions are flagged with source links in the Competitor Intelligence section.

25 — Red Flags 🟡 ▼

🚨
CRITICAL — Sales Velocity Collapse: 5 contracts/month in 2026 vs. 284 at 2022 peak. At current pace, ~105 new contracts by Jan 2028 T3 close. T3 alone requires 40 unfirm units to go firm. Velocity must triple immediately or T3 becomes a distressed closing event.
👻
35 Ghost Reservations (~$146M): No buyer on file. Inflates headline contract counts. Creates false confidence in financing modeling and may trigger lender scrutiny if discovered during due diligence. Requires legal audit and resolution within 30 days.
💀
2 Zombie Contracts — Legal Time Bombs: Unit 4704 (1,248 days stale), Unit 902 (624 days stale). Florida Condominium Act statutes of limitation may be triggering. Both require immediate legal review; may need termination and remarketing before TCO to avoid closing disputes.
💸
$42.2M in Overdue Deposits (186 milestones): Uncollected deposits across 80%+ of firm contracts is an existential financing risk. Construction draw schedules and lender covenants depend on escrow completeness. Per-contract status report required within 14 days.
📊
97% Lead Evaporation Rate: StrategyMedia 170 leads/month → 5 contracts/month. FB/IG: 2 contracts ALL-TIME. Google Ads: 11 contracts all-time. 13 of 264 contracts from all digital combined. This is structural misalignment, not underperformance.
📱
Website Broken for Mobile Buyers: PageSpeed 27/100, LCP 41.7s, 11.27MB. Over 60% of international property searches are mobile-first. A São Paulo or Mexico City buyer on 4G sees 40+ seconds of blank screen and exits permanently. Solvable technical problem with direct revenue impact.
🏗
6 Dev-Held Units ($29.7M off-market): Units withheld while unfirm contracts exist creates credibility questions. No documented strategic rationale on file. May draw scrutiny from buyers' attorneys at closing.

26 — Green Flags 🟡 ▲

✅
MB Places Foreclosure = Immediate Conversion Opportunity: ~791 MB Places buyers now face developer insolvency risk. Cottonwood foreclosure filed April 6. MB Places PSF ($1,800–$3,000) overlaps Cipriani's range. Mast Capital credibility + funded construction + Cipriani brand = direct contrast message. Begin outreach within 72 hours.
✅
Cipriani Brand is Unique in its Category: No Brickell competitor combines operational hospitality (100-year brand, Harry's Bar, Cipriani dining program) with residential delivery. St. Regis licenses; D&G licenses; 1428 licenses design. Cipriani operates. The operator has skin in the game every day after you close.
✅
PSF Appreciation +40–77% Validates Asset Value: Buyers who contracted early hold embedded equity gains before delivery. Powerful referral narrative and anti-cancellation retention tool.
✅
Event Channel Proven at 3–50× ROI: São Paulo: 87 registrants vs. all social combined (25). The formula is proven and repeatable. Under-resourced relative to its yield. Deploy immediately to Mexico City, Buenos Aires, Bogotá, Monterrey, NYC, Chicago.
✅
LinkedIn Emerging as Quiet Winner: 10 leads/month, +67% MoM — fastest-growing digital channel. Audience profile matches Cipriani buyer (wealth-management, family office, C-suite). CPL materially lower than Google Ads. Scale budget 3×.
✅
Brickell Fundamentals Positive: Average PSF +12% in 2026. 54.2% of Miami condo sales in cash (Jan 2026) — double national average. Miami ranked #2 globally for branded residences (Savills). Demand is structural, not cyclical.
✅
Construction Past 60th Floor — Visible Progress = Sales Tool: Monthly construction video to 304 firm-contract holders: retention, referral activation, social proof for LinkedIn. Near-zero cost, measurable ROI.

27 — Risk Register 🟡

#	Risk Item	Severity	Exposure	Detail	Mitigation
R1	MB Places Foreclosure	CRITICAL	Market confidence; comp pricing	$100M foreclosure filed Apr 6. JDS/Stern same developer as 888 D&G. Site dark per Reddit.	Convert MB Places buyers within 72hrs. One-page comparison brief: funded, vertical, 2027.
R2	35 Ghost Reservations	CRITICAL	~$146M phantom pipeline	No buyer on file. Exposes project to lender scrutiny and legal liability.	Legal audit within 30 days. Cancel unresolvable ghosts; relist at market.
R3	$42.2M Overdue Deposits	CRITICAL	186 milestones; financing risk	Uncollected deposits expose construction draws; may trigger lender default provisions.	Cure notices per contract terms. Engage outside counsel. Complete audit in 14 days.
R4	Zombie Contracts	CRITICAL	Units 4704 (1,248d) + 902 (624d)	Florida statute of limitations may be triggering. Units effectively off-market.	Immediate legal review. Terminate if uncurable; relist at current PSF before T1.
R5	Sales Velocity	CRITICAL	5/mo; T3=40 unfirm	At 5/mo, 105 new contracts by Jan 2028. T3 needs 40 to go firm. Velocity must triple.	5-city event series; LinkedIn 3x; broker incentive activation; Mast Capital referrals.
R6	Brickell Supply Glut	HIGH	17-mo supply vs. 6-mo balanced	Buyers have leverage. St. Regis, 1428 provide comparable alternatives.	Differentiate on operations (Cipriani dining/service), delivery certainty, PSF appreciation narrative.
R7	JDS/Stern Contagion	HIGH	888 D&G exposure	Same developer. D&G buyers may panic if MB Places becomes construction-failure headline.	Monitor D&G financing news weekly. Proactively position with D&G buyer pool via brokers.
R8	Website LCP 41.7s	HIGH	LatAm mobile traffic lost	27/100 PageSpeed on mobile. 60%+ of initial property searches are mobile-first internationally.	Technical sprint: WebP, CDN, lazy load. Target <2.5s LCP within 30 days.
R9	6 Dev-Held Units	MEDIUM	$29.7M off-market	No documented rationale. May draw scrutiny from buyers attorneys at closing.	Document hold rationale. Evaluate release if unfirm conversion fails by Q3 2026.
R10	Porsche Tower Subsidence	MEDIUM	Market reputation (CONFIRMED)	Confirmed structural issue buyers cite in competitive conversations.	Sales team briefed to address proactively. Emphasize Mast Capital engineering standards.
R11	TCO Delivery Risk	MEDIUM	T1 Sept 2027; T3 Jan 2028	South Florida construction documented 12-18 month delay history. Any slip creates cascade.	Monthly milestone reports. Pre-closing buyer communication cadence from 90 days out.
R12	UNA Defect Allegations	UNVERIFIED	Market perception risk	UNVERIFIED as of this brief. Do not cite or repeat in any sales or marketing context.	Monitor OKO/Cain legal docket. Do not deploy until verified by credible source.

28 — Recommended Actions 🟡

1

IMMEDIATE (72 HRS) — Launch MB Places Buyer Conversion Campaign

Pull public records for MB Places contracts. Activate Fortuna brokerage network and outside brokers with MB Places relationships. Prepare a one-page "Cipriani vs. MB Places" comparison: funded construction, Mast Capital Perigon top-off, 2027 delivery, Cipriani operational brand. Position on certainty, delivery, and developer stability. Never mention price.

2

IMMEDIATE (72 HRS) — Emergency Website Technical Fix

Assign technical team to reduce LCP from 41.7s to under 2.5s. Deliverables: WebP/AVIF image conversion, CDN implementation, lazy loading, render-blocking resource elimination. Validate on simulated 4G Latin American connection. Every day at 41.7s is unconverted international buyer traffic permanently lost.

3

IMMEDIATE (14 DAYS) — Ghost Reservation and Overdue Deposit Audit

Retain outside counsel for full audit of: (a) 35 ghost reservations — no buyer on file (~$146M); (b) $42.2M in overdue deposits across 186 milestones; (c) legal status of Unit 4704 (1,248 days) and Unit 902 (624 days). Issue cure notices. Do not proceed to T1 closings with unresolved zombies.

4

THIS MONTH — Commission 5-City International Event Series

Sao Paulo (87 registrants) vs. all social (25) proves the formula. Book private dining events in: Mexico City, Buenos Aires, Bogota, Monterrey, New York City. Format: 40-80 person dinner, construction tour video, hard-hat VIP invitation for top prospects. Reallocate 100% of Facebook/Instagram budget to event production.

5

THIS MONTH — Triple LinkedIn Budget; Deploy Sponsored Content

LinkedIn is +67% MoM and the only digital channel with a legitimate ROI trajectory. Increase budget 3x. Deploy sponsored articles targeting: finance/tech executives relocating from NYC/Chicago, Latin American family office managers. Content: Mast Capital credibility, Cipriani 100-year legacy, construction milestone updates.

6

THIS MONTH — Launch Monthly Construction Milestone Video Program

Building past 60th floor. Deploy monthly 2-minute construction progress video to all 304 firm-contract holders. Include: floor progress, skyline view from current height, delivery timeline confirmation. Purpose: retention of firm contracts, referral activation, social proof for LinkedIn. Near-zero cost.

7

ONGOING — Activate Outside Broker Network on T3 Units

T3 = 40 unfirm units, $290M, closes January 2028. Outside-broker commission (9%) is competitive. Create T3-specific broker package: PSF comparisons to all alternatives, Mast Capital credibility deck, Cipriani service preview. Host broker lunch/hard-hat event. Commission broker leaderboard with milestone rewards.

8

ONGOING — Weekly JDS/Stern Monitoring

Monitor The Real Deal, Bisnow, and Miami-Dade court records weekly for: (a) MB Places foreclosure resolution or escalation; (b) 888 D&G construction loan announcement; (c) additional Stern litigation. If MB Places unresolved in 90 days, begin active 888 D&G buyer outreach: "Construction has not started; our building is vertical."

29 — Watchlist 🟡

Mercedes-Benz Places Foreclosure Resolution

Trigger: Court ruling, JDS financing announcement, or construction restart/abandonment

URGENT

888 Brickell (D&G) Construction Loan Announcement

Trigger: JDS secures $750M+ financing; groundbreaking set; or further litigation/delay

URGENT

Aston Martin Residences Lawsuit Progression

Trigger: Settlement figure, court ruling, or criminal referral for developer German Coto

TRACK WEEKLY

St. Regis Legacy Collection Sales Activity

Trigger: Price reductions, sales velocity data, or new incentive programs from Related Group

MONITOR

1428 Brickell Construction Progress

Trigger: Any delivery slip from Q4 2027/Q1 2028; Ytech financial disclosures

MONITOR

Una Residences Closing PSF Benchmarks

Trigger: Monthly MLS closing data — establishes Cipriani T2/T3 comparable PSF floor

MONITOR MONTHLY

Brickell Months-of-Supply Trend

Trigger: If supply drops below 12 months, buyer urgency narrative becomes viable again

MONITOR MONTHLY

Porsche Design Tower Subsidence — Updates

Trigger: Legal settlement, engineering report, or media coverage citing Brickell ground stability

TRACK

30 — Data Gaps 🟢

G1

Per-Contract Deposit Status: No per-unit breakdown of the $42.2M in overdue deposits. Without this, legal cure notices cannot be individualized. Requested from: Sales Operations + Escrow Manager. Priority: CRITICAL.

G2

Ghost Reservation Identity: 35 reservations with no buyer on file — no identity, no documentation, no resolution path. Requires legal review of each reservation agreement. Priority: CRITICAL.

G3

Unit 4704 & 902 Legal Status: No legal opinion on file regarding statute of limitations, cure rights, or termination procedure for zombie contracts. Priority: HIGH.

G4

StrategyMedia Lead Quality Breakdown: 170 leads/month — no data on lead source by nationality, inquiry type, or follow-up conversion by broker. Priority: HIGH.

G5

MB Places Contract File: No confirmed count of MB Places buyer contracts from public records yet. Required to quantify conversion target pool. Priority: HIGH.

G6

888 D&G Construction Loan Status: JDS claims $750M package for MB Places; no confirmed construction loan for 888 D&G as of this brief. Priority: MEDIUM.

G7

Dev-Held Unit Rationale: 6 units ($29.7M) withheld — no written strategic rationale on file. Requires documented policy from developer principal. Priority: MEDIUM.

G8

Una Residences Closing PSF Data: Una closings underway but specific per-unit prices not yet in public MLS. Required for Cipriani T2/T3 comparable pricing arguments. Priority: MEDIUM.

31 — Appendix ▸

ROARK

CIPRIANI RESIDENCES MIAMI — Weekly Intelligence Brief