A developer is in talks to buy a waterfront property in Brickell, according to Commercial Observer. Oak Row Equities has signed a Letter of Intent and placed a refundable deposit on the properties at 1001 and 1111 Brickell Bay Drive. Aimco currently owns the properties.
The negotiations are for a purchase price of around $500m. Two towers are currently on the property, including a multifamily tower and an office tower. They are likely to be redeveloped into luxury condos.
The waterfront site allows a potential supertall height. Citadel is planning a supertall office tower designed by Foster & Partners down the block..
