Brickell

830 Brickell in Miami Lands $565 Million in Financing Ahead of Completion

8:00 am on July 29, 2024 By Oscar Nunez

830 Brickell, a 57-story, 640,000-square-foot Class A+ office tower in Miami’s Brickell Financial District, has secured $565 million in financing ahead of its delivery this fall. The long-term loan from TYKO Capital will pay off the development’s existing construction loan from MSD Partners. This emphasizes 830 Brickell’s significance as a base for many firms establishing their first Miami office, with over 90 percent of the building’s tenants being new to the market. Designed by renowned architecture firm Adrian Smith + Gordon Gill with interiors by Italian architecture and design company Iosa Ghini Associati and developed by OKO Group and Cain International, this fully leased 724-foot-tall tower is the first stand-alone Class A+ office building in Brickell in over a decade. Currently, it is receiving its Temporary Certificate of Occupancy in phases, with tenants building out their spaces. Delivery is expected this fall. The transaction was represented by Beatriz Azcuy of Sidley Austin LLP.

Revised Plans and New Renderings Revealed for 1 Southside Park in Brickell

8:00 am on July 22, 2024 By Oscar Nunez

JDS Development Group has filed revised plans and renderings with Miami-Dade County for Brickell’s massive 1 Southside Park, currently under construction. Designed by SHoP Architects with ODP Architecture & Design as the architect of record, the project includes a residential component known as Mercedes Benz Places. The proposed changes to the project include an increase in open space, an increase in lot coverage by 6%, a reduction in residential unit count by 185 units, a decrease in office area by 11,930 square feet, an increase in commercial space by 26,129 square feet, a larger fire station, and an overall reduction in floor area by 43,453 square feet.

Demolition Permit Issued for 1401 Brickell Avenue, Paving Way for 40-Story ‘Santander Tower’

8:00 am on July 12, 2024 By Oscar Nunez

A demolition permit has been issued for the 1401 Brickell property in Miami, signaling the beginning of redevelopment for the site. Although plans for a new tower are in place, a new construction permit has yet to be filed. The issued permit outlines the total demolition of 236,877 square feet at an estimated cost of $5,890,000. The BG Group is listed as the contractor responsible for the demolition. The application for the permit was initially submitted in June 2023, and it was approved and issued on July 3, 2023.

Site and Financing Secured for 77-Story ‘ORA by Casa Tua’ in Miami’s Brickell Financial District

8:00 am on July 9, 2024 By Oscar Nunez

Miami-based developer Fortune International Group has acquired a 46,373-square-foot site at 1210 Brickell Ave and secured a $36,080,000 pre-development loan for the ORA by Casa Tua project. The loan, provided by Amerant Bank, marks a significant step forward in development. Fortune International Group purchased the site from Miami-based Patagonian Investment Internacional LLC and is now set to prepare the site for construction, with groundbreaking expected to begin in 2025.

FAA Permits Filed for 848 Brickell, Requesting Approval for 764-Foot Tower

8:00 am on July 8, 2024 By Oscar Nunez

Key International and Sterling Bay have filed for FAA permits for 848 Brickell, a 51-story Class A office and retail tower in Miami’s Brickell neighborhood. Designed by Skidmore, Owings, & Merrill (SOM), the project’s permits were filed on June 27, 2024, and are currently under review, with the status showing “work in progress.” The structure is planned to reach 764 feet above ground, or 775 feet above mean sea level.

60-Story ‘Summit Brickell’ Gets FAA Clearance To Rise 765 Feet Above Ground

8:00 am on May 23, 2024 By Oscar Nunez

Summit Brickell, a planned mixed-use development at 1015 Southwest 1st Avenue in Miami’s Brickell neighborhood, has recently secured Federal Aviation Administration (FAA) approval. Filed on April 5 and swiftly approved on May 21, the tower is approved to rise 765 feet above ground or 769 feet above sea level at its highest point. Designed by Corwil Architects and developed by Lore Development Group—a joint venture between Brazilian billionaire Daniel Dantas’ Opportunity investment firm and Leste Group—the 60-story structure will encompass a total floor area ratio (FAR) of 717,740 square feet. It will feature 500 residential units, 1,583 square feet of commercial space, and 500 parking spaces.

Foundation Permit Application Filed For One Twenty Brickell Residences At 120 SW 8th Street In Brickell, Miami

8:00 am on May 17, 2024 By Oscar Nunez

A foundation permit application has been filed for One Twenty Brickell Residences, a 34-story residential tower planned for construction at 120 Southwest 8th Street in Brickell, Miami. Designed by Sieger Suarez Architects with interiors by Cotofana Designs and developed by Property Markets Group (PMG), this new development will feature 240 fully furnished residences, each delivered with its own deeded office suite and over 60,000 square feet of amenities. The foundation permit application was filed with Miami-Dade County on April 30, with no contractor yet named.

FAA Permits Issued For 39-Story Mixed-Use Tower At 128 SW 7th Street In Brickell, Miami

8:00 am on May 9, 2024 By Oscar Nunez

The Federal Aviation Administration (FAA) has issued permits for a 39-story mixed-use building planned at 128 Southwest 7th Street in Miami’s Brickell financial district. Designed by Gensler, developed by Focus Development Inc (Focus) and tentatively dubbed Miami Starlite, the development is projected to yield 685,710 square feet of space. This includes 517 residential units, 8,282 square feet of retail space, and indoor parking for over 500 vehicles. Focus acquired the site for $28 million in November 2022. Previously the location of Brickell’s former Starlite East Motel, the property is a thru-block site with frontage on Southwest 8th Street and bound by the AC Miami Hotel on the east and the City Heights apartment tower on the west.

Miami-Dade County Reviewing Proposal For 23-Story Babylon Racquet Club At 240 SE 14th Street In Brickell, Miami

8:00 am on May 7, 2024 By Oscar Nunez

Bay Racket Club, LLC, led by William Jacome and Orlando Medellin, has submitted a pre-application for developing the Babylon Racquet Club, a 23-story mixed-use building planned at 240 Southeast 14th Street in Brickell, Miami. Positioned on a pie-shaped lot approximately 19,164 square feet (0.439 acres) in size, where SE 14th Street meets Brickell Bay Drive along Biscayne Bay, the project is designed to become downtown Miami’s premier racket sports and health/wellness center. The building aims to serve as a central recreational hub featuring indoor sports courts, a gym, a wellness center, dining facilities, hotel accommodations, and residential units. Rotterdam-based MVRDV is the design architect, with ODP Architecture & Design acting as the architect of record. The pre-application was filed on April 24 and is progressing through the approval process with Miami-Dade County.

Forman Capital Funds $54.56 Million Construction Loan for Condominium-Hotel Development in Miami’s Financial District

8:00 am on April 9, 2024 By Oscar Nunez

Forman Capital, a private direct real estate lender based in Palm Beach County, Florida, provided a $54.56 million construction loan to the developer of a condominium-hotel project in Miami’s Brickell Financial District. The 12-story, 172-unit Domus Brickell Park, designed by Zyscovich Architects with Urban Robot Associates as the interior designer, will bring a new condo-hotel brand, Domus FLATS (Flexible Apartments for Temporary Stays), to the market and fill a void for flexible ownership product.

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