Oak Row Equities and Mariposa Real Estate Acquire Prime Waterfront Property in Brickell for $520 Million
January 2, 2025 by Jacki Taylor
In a landmark transaction set to redefine South Florida’s real estate landscape, Oak Row Equities and Mariposa Real Estate have finalized an agreement to acquire Aimco’s coveted 4.25-acre waterfront property at 1001 and 1111 Brickell Bay Drive. Valued at $520 million, this acquisition marks the largest single land purchase in South Florida history and is scheduled to close in the fourth quarter of 2025.
This prime site, boasting 485 feet of uninterrupted Biscayne Bay frontage, is zoned for over three million square feet of development. It is ideally suited for the construction of ultra-luxury condominiums, poised to meet the increasing demand for high-end residences in Miami’s thriving Brickell neighborhood.
“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,” stated 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 of the site permits the construction of multiple towers reaching heights of up to 1,049 feet, making it a one-of-a-kind development opportunity. Oak Row Equities aims to leverage this potential by creating a landmark project that not only redefines Miami’s iconic skyline but also sets new standards for urban luxury.
“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, known for its expertise in luxury developments, has partnered with Oak Row Equities on this transformative endeavor. Together, the two firms share a commitment to delivering a groundbreaking product that epitomizes luxury living.
“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.”
As Miami continues to cement its reputation as a global luxury hub, the development at 1001 and 1111 Brickell Bay Drive promises to be a game-changer. With unparalleled bayfront access, the project is set to attract discerning buyers seeking exclusivity, sophistication, and world-class amenities. This historic acquisition underscores the confidence that leading developers have in Miami’s future as a premier destination for luxury real estate.
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