facebook
Traded Co logo
Submit
Daily limit: 0/10

Erik Rutter And David Weitz Of Oak Row Equities Acquire 4.25 Acres In Brickell For $500M

Property Image
SOLD
$500,000,000
Brad Capas
Troy Ballard
Robert Given
+ 4

Florida

See Similar Deals
Mixed-use
Sold 11/14/2024
the dealplayerscompscontact
Property Image
SOLD

Erik Rutter And David Weitz Of Oak Row Equities Acquire 4.25 Acres In Brickell For $500M

1001 Brickell Bay Drive

See Similar Deals
Mixed-use
Sold 11/14/2024
Brad Capas
Troy Ballard
Robert Given
+ 4
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Mixed-use
Transaction Type:Sale

The property asset involved in this transaction is a mixed-use waterfront assemblage located at 1001 & 1111 Brickell Bay Drive in Miami, encompassing 4.25 acres. The total price for this transaction is $500,000,000. The site features 485 feet of Biscayne Bay frontage and includes a 32-story office tower along with the 31-story Yacht Club Apartments, presenting significant redevelopment potential for over 3 million square feet of development.

Summary of transaction details:

Oak Row Equities is currently negotiating the deal to acquire Aimco’s waterfront assemblage, which, if finalized, would exceed the previous record for a nearby parcel held by Ken Griffin. The future development likely aims to create a luxury condominium complex on the site, strategically positioned in Miami's Financial District.

Players

Christian "Chris" Lee
CBRE
Christian Lee
29 deals$2.2B volume(305) 773-2813
BROKER
Denny St. Romain
CBRE
Denny St. Romain
7 deals$999.5M volume
BROKER
Robert Given
CBRE
Robert Given
44 deals$4.2B volume(561) 213-5297
BROKER
Troy Ballard
CBRE
Troy Ballard
22 deals$3B volume
BROKER
Brad Capas
CBRE
Brad Capas
5 deals$579.4M volume
BROKER
Brandon McMenomy
CBRE
Brandon McMenomy
1 deal$500M volume(212) 984-8000
BROKER
Tim Gifford
CBRE
Tim Gifford
1 deal$500M volume(786) 942-5327
BROKER
Cushman & Wakefield
Cushman & Wakefield
BROKERAGE

Details

SOLD
IMAGE: - UNDER CONTRACT IMAGE: Robert Given, Christian Lee, Brad Capas, Tim Gifford, David Weitz, Erik Rutter, Troy Ballard, Brandon McMenomy, Denny St. Romain & Wes Powell DATE: 11/14/2024 ADDRESS: 1001 & 1111 Brickell Bay Drive MARKET: Miami ASSET TYPE: Mixed-use ~ ACRES: 4.25 BUYER: Erik Rutter & David Weitz - Oak Row Equities (@OakRowEquities) SELLER: Wes Powell - Aimco BROKERS: Robert Given (@Nevig.lrae.984), Troy Ballard, Brad Capas (@BradCapas), Christian Lee, Denny St. Romain, Brandon McMenomy & Tim Gifford - CBRE (@CBRE) NOTE: Oak Row Equities is negotiating a $500 million deal to acquire Aimco’s 4.25-acre waterfront assemblage in Brickell, Miami's Financial District, currently home to a 32-story office tower and the 31-story Yacht Club Apartments. If finalized, the purchase would surpass Ken Griffin’s $363 million record for a nearby parcel, slated for Citadel's planned 54-story mixed-use tower. Oak Row will likely plan to redevelop the site, which offers 485 feet of Biscayne Bay frontage and potential for over 3 million square feet of development, into a luxury condominium complex. PRICE: $500,000,000

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$26,666,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$1,776,394.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,370,255.09
Annual Debt Service$28,443,061.06