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

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:

• Property Type: Mixed-use
• Transaction Amount: $500,000,000
• Buyer: Erik Rutter & David Weitz - Oak Row Equities
• Seller: Wes Powell - Aimco
• Broker Representatives: Robert Given, Troy Ballard, Brad Capas, Christian Lee, Denny St. Romain, Brandon McMenomy & Tim Gifford - CBRE

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.