Oak Row Equities and Mariposa Real Estate have come together to purchase Aimco’s 4.25-acre waterfront property in Brickell for a record-breaking $520 million. This deal marks the largest single land acquisition ever made in South Florida.
The prime location currently features a 517,450-square-foot office building constructed in 1985 and a 357-unit apartment complex built in 1998, both of which will be included in the transaction.
Oak Row Equities has big plans for this coveted parcel located at 1001 and1111 Brickell Bay Drive. With an impressive continuous Biscayne Bay frontage of over four football fields (485 feet), they intend to develop luxury condominiums on the site. The property is zoned for more than three million square feet of development, allowing for multiple towers that can reach heights up to an impressive height limit of over one thousand feet (1,049 ft).
This highly sought-after waterfront assemblage stands out as being not only the largest but also one of the last remaining developable sites with such potential within Brickell’s bustling neighborhood. Erik Rutter from Oak Row Equities stated that “the perfect combination of zoning regulations, site layout, bay front access and strategic location make this piece truly irreplaceable.”
