Miami’s ever-evolving skyline is set to see yet another significant transformation. A series of recent FAA filings have unveiled OKO Group and Cain International’s plans to build another 649-foot tower in the bustling Edgewater district, near their 57-story Missoni Baia condominium tower, further underscoring the neighborhood’s burgeoning reputation as a premier destination for luxury highrise living.
The application, filed on May 17, indicates the proposed development will reach 645 feet above ground level or 649 feet above sea level. This height represents the area’s maximum permissible under current aviation rules, a nod to the developers’ intent to maximize the site’s potential.
Four permits are for future development at 717 Northeast 27th Street, a location rich with history. This site, formerly owned by the Jesuit Fathers of the Province of the Antilles, now serves as a sales center for Missoni Baia.
An added layer of intrigue comes from three additional filings tied to properties directly across the street, west of the Una Residences Sales Gallery, that also top 649 feet above sea level but are about a foot shorter above ground in comparison. These properties at 615 Northeast 26 Terrace, 631 Northeast 26 Terrace, and 720 Northeast 27 Street are owned by 720 NE STREET PROPCO LLC, a joint venture entity steered by OKO’s Francis Scola and Cain’s Jonathan Goldstein. This hints at an expansion of OKO Group and Cain International’s development ambitions in Edgewater. Could there be another tower in the works on these sites?
The developer duo announced their joint property acquisition for $54 million in 2016. Since then, they have been making waves in Miami’s real estate scene. Aside from Missoni Baia, they are also the developers behind Una Residences and 830 Brickell, otherwise considered high-profile developments enhancing the city’s architectural portfolio.
While more detailed information about the proposed developments is still awaited, one thing is clear. All eyes are on OKO Group and Cain International as they continue influencing Miami’s real estate landscape. As Miami’s property market maintains its upward trajectory, these new projects promise to bring increased sophistication and innovation to the city’s ever-evolving skyline.
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