„ A large waterfront Brickell parcel could soon be sold.
Aimco told investors last week that it had initiated plans to market for sale a Brickell Assemblage it owns.
According to a previous company presentation, the company is the sole owner of the 1001 Brickell Bay Drive office building and the adjacent Yacht Club Apartments.
It previously said it was executing office leases on a relatively short term basis to prepare for potential redevelopment.
The assemblage size is 4.25 acres, the presentation said.
Aimco also said that demand for rental housing in the area remains “robust.”
The company recently completed a gut renovation of The Hamilton, with 276 apartments in Edgewater.“
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„ Oak Row Equities and Mariposa Real Estate have reached an agreement to acquire Aimco’s 4.25-acre waterfront property at 1001 and 1111 Brickell Bay Drive for $520 million. This transaction, expected to close in the fourth quarter of 2025, will represent the largest single land acquisition in South Florida to date. The site, zoned for over three million square feet of development, features 485 feet of continuous Biscayne Bay frontage and is primed for ultra-luxury condominiums.
“The Brickell Bay Drive assemblage presents a once-in-a-lifetime opportunity to build a transformative project in the most exciting submarket in the City of Miami,” said Erik Rutter, Managing Partner at Oak Row Equities. “A perfect blend of zoning, site geometry, bay frontage, and location combine to create a truly irreplaceable piece of real estate. We are thrilled to be at the helm of such an important project.”
The flexible zoning allows for several towers to rise up to 1,049 feet, making it a unique development opportunity. Oak Row Equities plans to create a landmark project that redefines Miami’s skyline and sets a new benchmark for urban luxury. The development will target the growing demand for high-end residences in one of Miami’s most desirable neighborhoods.“
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