**Habitat Group Acquires Brickell Property from Swire for $7.5M, Plans Condo-Hotel Development**
An affiliate of Swire Properties has sold a parcel in Miami’s Brickell neighborhood for $7.5 million to Habitat Group, a developer currently planning a condominium and hotel tower at the site.
The 0.34-acre property, located at 150 and 158 S.W. 7th Street, includes a 4,560-square-foot industrial building built in 1979 and a residential home. Swire originally acquired the industrial building for $2.35 million in 2015 and added the adjacent home to its holdings with a $2.5 million purchase in February.
According to the South Florida Business Journal, Habitat Group is exploring two development options for the site. One proposal features a 24-story tower with 30 condominiums and 78 condo/hotel units, while the alternative plan includes a 40-story tower comprising 54 condominiums and 64 condo/hotel units.
The project would follow a co-ownership model, in which each condominium unit could be purchased by up to eight co-investors—a strategy that has gained traction among developers seeking to diversify ownership and reduce individual costs.
Swire Properties, known for its Brickell City Centre project, is also actively working on the Residences at the Mandarin Oriental, Miami, further expanding its presence in the high-end South Florida real estate market.
