New Development Planned for 4.25-Acre Brickell Bay Site
A $520 million acquisition of a waterfront site in [Brickell](/brickell) will lead to a phased development of a hotel and branded condominiums.
New Waterfront Development in Brickell
A new development project is set to begin at 1001 and 1111 Brickell Bay Drive. Oak Row Equities, OKO Group, and Mariposa Real Estate acquired the 4.25-acre waterfront parcel for $520 million. The site features 485 feet of continuous frontage on Biscayne Bay.
The project is supported by a $464.5 million acquisition and predevelopment loan provided by TYKO Capital. The site is currently zoned for over three million square feet of development, which allows for the construction of towers reaching up to 1,049 feet in height.
Phased Construction and Amenities
The first phase of the development at 1001 and 1111 Brickell Bay Drive will include a hotel and branded condominiums. This project adds to the high-density skyline of the Brickell neighborhood.
Impact on Local Inventory
For residents and potential buyers in the immediate area, the development adds a significant amount of new inventory to the Brickell market. Nearby buildings offer a range of price points and styles. For example, Metropolitan and Brickell Bay Club offer units starting in the $500,000 range, while 2200 Brickell and Una Residences feature higher price points starting at $830,000 and $2 million respectively.
As of August 2026, the Brickell market has 944 active condo listings with a median asking price of $859,000. The new project will increase the concentration of luxury and branded residential options in the area.
Sources Florida YIMBY: 4.25-Acre Brickell Bay Drive Assemblage Trades for $520M, Plans Advance for Phased Hotel & Condo Development - Florida YIMBY — https://floridayimby.com/2026/01/4-25-acre-brickell-bay-drive-assemblage-trades-for-520m-plans-advance-for-phased-development.html
Frequently asked questions
What is the size and location of the new development site?+
The project is located at 1001 and 1111 Brickell Bay Drive on a 4.25-acre waterfront parcel. The site features 485 feet of continuous frontage on Biscayne Bay.
What types of units will be included in the first phase of construction?+
The first phase of the development will include a hotel and branded condominiums.
What are the zoning limits for the site's construction?+
The site is currently zoned for over three million square feet of development, which allows for the construction of towers reaching up to 1,049 feet in height.
How much was the land purchased for?+
The 4.25-acre waterfront parcel was acquired for $520 million.
More Brickell news
Miami-Dade County Struggles to Sell Historic Flagler Street Courthouse
The ongoing challenge to repurpose the historic courthouse at 73 W Flagler St. highlights the complexities of urban redevelopment in the Downtown area.
The Residences at 1428 Brickell Progresses Toward 2028 Completion
The 70-story tower at 1428 Brickell Avenue is reaching Level 25 and features a 20,000-square-foot solar-integrated window system for common area power.
Brickell condo market report — August 2026
45 closed sales, median $661/sq ft sold, 965 active listings in Brickell during August 2026.
Brickell condo market update — August 17–August 30, 2026
66 new listings and 16 closings in Brickell over the two weeks ending August 30, median $670/sq ft sold.