MIAMI, FL — In a monumental real estate transaction, Oak Row Equities and Mariposa Real Estate have finalized an agreement to acquire Aimco’s 4.25-acre waterfront property in Brickell for a staggering $520 million. This deal marks the largest single land acquisition in South Florida’s history, a testament to the booming demand for luxury waterfront developments in Miami’s financial hub.

The property, situated at 1001 and 1111 Brickell Bay Drive, boasts 485 feet of uninterrupted Biscayne Bay frontage and currently features two buildings: a 517,450-square-foot, 32-story office tower constructed in 1985, and a 357-unit, 31-story apartment complex built in 1998. However, the future of this prime parcel promises a transformative luxury development.

Oak Row Equities has unveiled ambitious plans to redevelop the site into high-end condominiums, capitalizing on its zoning for over three million square feet of construction. The zoning allows for multiple towers to rise as high as 1,049 feet, a scale that would redefine Brickell’s already iconic skyline.

“This waterfront assemblage is Brickell’s largest and last remaining developable site of this magnitude,” said Erik Rutter, co-founder of Oak Row Equities. “The perfect blend of zoning, site geometry, bay frontage, and location combine to create a truly irreplaceable piece of real estate.”

The acquisition highlights the continued allure of Miami’s waterfront properties, especially in Brickell, a neighborhood that has transformed into a global financial and residential hub. The new development is expected to draw interest from international buyers and investors seeking premium real estate in one of the country’s fastest-growing urban markets.

Beyond the project’s luxury appeal, the development has significant economic implications. It is poised to create jobs, boost local business activity, and further cement Brickell’s reputation as a top destination for high-net-worth individuals.

Oak Row Equities and Mariposa Real Estate have a track record of success in delivering high-end, mixed-use projects across South Florida. Their latest venture underscores the region’s real estate dynamism and the escalating value of prime waterfront land.

As Miami’s skyline continues to evolve, the Brickell property acquisition signals the city’s unyielding momentum in luxury development and its growing status as a magnet for global wealth and investment.

Stay tuned for updates on this landmark project, as Oak Row Equities and Mariposa Real Estate redefine the heart of Miami’s financial district.

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