Russian billionaire betting big on Miami’s luxury condo market
While most developers are pulling back as Miami’s high-end condo market slows, Vladislav Doronin is pushing forward with a 57-story luxury condo tower, and two more projects after it.
The Russian real-estate magnate’s Miami-based development company OKO Group is spending about a billion dollars to acquire the land and develop three local properties. Going up first: the $350 million Missoni Baia in the Edgewater neighborhood.
“Miami has become a 24-hour city and has become internationally significant,” Doronin said in a phone interview. “Miami’s airport is ranked second for international passengers in the United States. I also like the good weather and the happy lifestyle in Miami.”
Missoni Baia will seek to leverage both weather and lifestyle with views of both Biscayne Bay, which it fronts, and the city from its 146 multimillion-dollar residences.