Developer In Talks To Buy Brickell Property For Around $500 Million

A developer is negotiating to acquire a waterfront site in Brickell, according to Commercial Observer.

Oak Row Equities has expressed interest by signing a Letter of Intent and securing a refundable deposit for the properties at 1001 and 1111 Brickell Bay Drive, currently owned by Aimco.

The deal, valued at roughly $500 million, involves two existing towers: one residential and one office. These structures are expected to be redeveloped into upscale condominiums.

The prime location offers the potential for constructing a supertall building.