In a major deal, Oak Row Equities and Mariposa Real Estate have joined forces to purchase Aimco’s 4.25-acre waterfront property in Brickell for $520 million. This transaction marks the largest single land acquisition in South Florida according to Oak Row.
The property currently boasts a 517,450-square-foot office building constructed in 1985 and a 357-unit apartment complex of 31 stories built in 1998.
Oak Row Equities has ambitious plans for the parcel located at the address of1001 and1111 Brickell Bay Drive (pictured). The prime location offers an impressive continuous Biscayne Bay frontage spanning over485 feet. With zoning allowing for over three million square feet of development, multiple towers reaching heights up to1,049 feet can be built on this site.
This highly sought-after waterfront assemblage is considered the largest remaining developable site with such scale within Brickell. According to Erik Rutter from Oak Row Equities,”A perfect combination of zoning regulations, site layout, bay frontage,and location make this piece of real estate truly irreplaceable.”
