{"id":94994,"date":"2025-12-24T17:29:14","date_gmt":"2025-12-24T17:29:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/94994\/"},"modified":"2025-12-24T17:29:14","modified_gmt":"2025-12-24T17:29:14","slug":"oak-row-mariposa-close-record-520m-waterfront-purchase-in-miamis-brickell-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/94994\/","title":{"rendered":"Oak Row, Mariposa Close Record $520M Waterfront Purchase in Miami\u2019s Brickell \u2013 Commercial Observer"},"content":{"rendered":"

Oak Row Equities<\/a> and Mariposa Real Estate<\/a> have closed on their $520 million purchase of a waterfront assemblage in Miami\u2019s Brickell district, bringing along Vlad Doronin\u2019s OKO Group<\/a> as a partner, with plans to build a hotel and luxury condos.<\/p>\n

The purchase of the 4.25-acre site is the most expensive land trade in Miami\u2019s history in gross terms. The site houses a 32-story office tower and a 31-story rental building called Yacht Club Apartments, which together offer 485 feet of continuous Biscayne Bay frontage at 1001 and 1111 Brickell Bay Drive.<\/p>\n

SEE ALSO: Wholesaler My Sales Sells Queens Industrial Property for $28M<\/a><\/p>\n

The purchase tops Ken Griffin\u2019s $363 million acquisition<\/a> in 2022 of a parcel nearby, where the billionaire will build a headquarters tower for his two companies, hedge fund Citadel and market maker Citadel Securities.<\/p>\n

In 2023, Aimco put the two-building Brickell Bay Drive property on the market, seeking as much as $650 million. Talks with Oak Row Equities, led by Erik Rutter and David Weitz, got underway last fall, Commercial Observer first reported<\/a>, and the Miami-based firm went under contract in January with Mariposa Real Estate.\u00a0<\/p>\n

Adi Chugh\u2019s Tyko Capital<\/a> served as the senior lender for a $464.5 million acquisition and predevelopment loan.<\/p>\n

Walker & Dunlop<\/a> arranged the debt with a team consisting of Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer and Mike Stepniewski.<\/p>\n

The site is zoned for over 3 million square feet of development, allowing for multiple towers up to 1,049 feet. The first phase will include a hotel and branded condominiums. Doronin, who developed the nearby 830 Brickell office high-rise and the luxury Una\u00a0condo building, owns the Aman luxury hotel chain.\u00a0<\/p>\n

A representative for Aimco did not immediately respond to a request for comment.<\/p>\n

Julia Echikson can be reached at jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Oak Row Equities and Mariposa Real Estate have closed on their $520 million purchase of a waterfront assemblage…\n","protected":false},"author":2,"featured_media":94995,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[50650,50651,50652,50653,50654,50655,50656,50657,50658,50659,123,125,124,50660,50661,50662],"class_list":["post-94994","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-1001-brickell-bay-drive","tag-1111-brickell-bay-drive","tag-aaron-appel","tag-adam-schwartz","tag-adi-chugh","tag-david-weitz","tag-dustin-stolly","tag-erik-rutter","tag-jonathan-schwartz","tag-keith-kurland","tag-miami","tag-miami-headlines","tag-miami-news","tag-mike-stepniewski","tag-sean-reimer","tag-yacht-club-apartments"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/94994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=94994"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/94994\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/94995"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=94994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=94994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=94994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}