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<\/p>\nOak Row Equities, OKO Group, and Mariposa Real Estate have closed on a $520 million acquisition of a 4.25-acre waterfront assemblage in Brickell, marking the largest single land sale in Florida history. The joint venture acquired the property from affiliates of AIMCO\u00a0at 1001 and 1111 Brickell Bay Drive, encompassing approximately 485 linear feet of frontage along Biscayne Bay.<\/p>\n
The assemblage is currently improved with two existing residential towers, one rising 31 stories and the other 32 stories, which occupy the waterfront parcels along Brickell Bay Drive. The transaction reflects the long-term redevelopment potential of the site rather than vacant land acquisition.<\/p>\n
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Photo from Google Earth.<\/p>\n
The purchase was financed through a $464.5 million acquisition and predevelopment loan provided by Tyko Capital. Located along the eastern edge of Brickell\u2019s financial district, the property is zoned to allow more than three million square feet of development, with entitlements permitting multiple towers rising up to 1,049 feet. The site represents the final waterfront assemblage of comparable scale remaining in Brickell.<\/p>\n
Plans for the property call for a phased ultra-luxury mixed-use development, with the first phase expected to include a hotel and branded condominium component. Disclosures associated with the financing indicate the project is planned as Atma Miami by Aman, marking the first proposed real estate development under Aman\u2019s Atma brand.<\/p>\n
As proposed, Atma Miami by Aman would be delivered in two phases and include approximately 480 condominium residences and a five-star hotel comprising roughly 185 suites. The development program also includes a private marina and a range of resort-style amenities, including a spa and racquet club. While the site\u2019s zoning allows for substantially greater density, the planned unit count reflects a lower-density approach emphasizing larger residences and extensive amenity offerings rather than maximizing allowable square footage.<\/p>\n
The acquisition and predevelopment loan was arranged by Walker & Dunlop on behalf of the ownership group and supports early-stage design, entitlement, and preconstruction activities ahead of vertical development.<\/p>\n
Oak Row Equities continues to expand its South Florida development portfolio. The firm is behind Wynwood Plaza, a large-scale mixed-use project in the Wynwood Arts District that includes Amazon\u2019s South Florida headquarters and 509 residential units. In Edgewater, Oak Row has advanced multiple high-rise developments, including the under-construction 2600 Biscayne, a 41-story Class A office and multifamily tower financed by a $181 million construction loan from Bank OZK, and 2900 Terrace, which broke ground following the closing of $142.5 million in senior financing from Bank OZK and $68.0 million in mezzanine financing from Canyon Partners Real Estate.<\/p>\n
Additional projects in Oak Row Equities\u2019 pipeline include First & Fifth, a planned luxury multifamily tower designed by ODP Architecture & Design and located across from MiamiCentral Station, as well as Venus, a 440-unit multifamily development advancing through permitting in North Miami Beach.<\/p>\n
OKO Group, led by Vlad Doronin, maintains a growing portfolio of luxury residential, hospitality, and office developments in the United States and internationally. In Miami, the firm\u2019s portfolio includes 830 Brickell, Missoni Baia in Edgewater, Una Residences in Brickell, and the under-construction Aman Hotel & Residences Miami Beach. Nationally, the company\u2019s holdings include the Crown Building in New York City, which reopened in 2022 as Aman New York, as well as One Beverly Hills, a 17.5-acre master-planned development in partnership with Cain International that will include an Aman hotel, branded residences, and a private members club.<\/p>\n
With zoning in place for supertall-scale development and one of the most prominent bayfront locations in the city, the Brickell Bay Drive site is positioned for long-term redevelopment as plans advance through design, entitlement, and municipal review.<\/p>\n
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