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799 Brickell Avenue

Updated May 29, 2025

Melo Group Acquires 2.8-Acre Development Site In Miami For $211.5M From Swire Properties
SOLDDevelopment Site

Melo Group Acquires 2.8-Acre Development Site In Miami For $211.5M From Swire Properties

799 Brickell Avenue

$211,500,000

Building Size

—

Asset Type

Development Site

Closing

May 28, 2025

About this deal

AI

Swire Properties sold a 2.8-acre development site located at 700-799 Brickell Avenue in Miami. The property was sold for $211.5 million in an all-cash deal. The previous plans for the site included a 1,000-foot One Brickell City Centre tower, which have since been scrapped.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $211,500,000
  • Buyer: Martin Melo, Jose Luis Ferreira de Melo & Carlos Melo - Melo Group
  • Seller: Henry Bott - Swire Properties
  • Brokers: Robert Given & Troy Ballard - CBRE
  • Acres: 2.8

Robert Given and Troy Ballard of CBRE represented the sale of the property. Melo Group has not yet announced any development plans for the recently acquired site.

On the Map

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$211,500,000

Development Site

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Players

Robert Given

CBRE

Broker

$4.2B

vol

44 deals

Broker
Carlos Melo

Carlos Melo

Melo Group

Buyer

$767M

vol

10 deals

Buyer
Swire Properties
Swire PropertiesSeller
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Miami Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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