Oak Row Equities and Mariposa Real Estate have reached an agreement to acquire Aimco’s 4.25-acre waterfront property at 1001 and 1111 Brickell Bay Drive for $520 million. This transaction, expected to close in the fourth quarter of 2025, will represent the largest single land acquisition in South Florida to date. The site, zoned for over three million square feet of development, features 485 feet of continuous Biscayne Bay frontage and is primed for ultra-luxury condominiums.
“The Brickell Bay Drive assemblage presents a once-in-a-lifetime opportunity to build a transformative project in the most exciting submarket in the City of Miami,” said Erik Rutter, Managing Partner at Oak Row Equities. “A perfect blend of zoning, site geometry, bay frontage, and location combine to create a truly irreplaceable piece of real estate. We are thrilled to be at the helm of such an important project.”
The flexible zoning allows for several towers to rise up to 1,049 feet, making it a unique development opportunity. Oak Row Equities plans to create a landmark project that redefines Miami’s skyline and sets a new benchmark for urban luxury. The development will target the growing demand for high-end residences in one of Miami’s most desirable neighborhoods.
“Waterfront property of this caliber, size, and scale demands the best in design, and we intend to collaborate with world-class talent to bring our vision to life,” said David Weitz, Managing Partner at Oak Row Equities. “Each one of our projects to date has helped elevate and transform their respective submarkets. With this opportunity, we will bring our unique blend of placemaking and design to the Brickell Bay Drive assemblage and deliver an unmatched product to meet the growing sophistication of the Miami market.”
Mariposa Real Estate joins Oak Row Equities as a partner in the development, emphasizing their shared commitment to delivering a product that will define luxury living in Miami.
“We are excited to be partners with Oak Row Equities on this amazing opportunity,” said Sam Franklin of Mariposa Real Estate. “We share a vision for delivering best-in-class product and believe there is no better site in Miami to do so.”
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Wow… Would love to see what RAMSA would do with such a location.