Hollo Family Sells Brickell Development Site For $363M

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Florida East Coast Realty, led by the Hollo family, sold a prime waterfront development site in Miami’s Brickell Financial District for $363 million.

TWJ 1201 LLC, managed by Jerome Hollo of the Miami-based development family, sold the 2.5-acre parking lot at 1201 Brickell Bay Dr. to 1201 Brickell Bay LLC, managed by Randall Davis in Chicago.

The property last traded for $15.5 million in 2000.

In 2016, FECR announced plans to develop the site with a 1,049-foot tower, which would have been the tallest in Florida, designed by Pritzker Prize-winning architect Norman Foster. It was to have 660 residential units, yet construction didn’t take place.

Source:  SFBJ