Related Group is likely realizing big profits at Brickell Heights, after buyers completed closings on the majority of condo units there.
There are 690 residential condo units in two towers. Since closing started in June, a total of 632 deeds, or over 90 percent, have been recorded in county records:
June – 207
July – 247
August to date – 178
At least two of those deeds are for commercial spaces. The ground floor retail space will include a Rosetta Bakery and a Capital One Bank. Another commercial space includes Equinox and SoulCycle. Both have been sold.
Between the two towers, about 80 units are listed as flips for resale on the MLS.
There are also about 230 units that are either listed, pending, or closed as rentals (some are double listed for rent and for sale). Rentals that have been completed have gone for about $2.70 per square foot.