Developers Working On New Brickell Project

Alta Developers may be working on the buyout of a co-op on Brickell Bay Drive, with the goal of demolishing and building a new project.

In May, the developer formed an affiliate called Alta 1430, LLC.

In June, Alta representatives met with city officials to discuss a possible rezoning of a property on Brickell Bay Drive.

The developer could be targeting 1430 Brickell Bay Drive for buyout. The property is structured as a co-op rather than a condo, with owners holding share in the company that owns the property rather than individual units.

Bay Shore Cooperative, the controlling entity, has a right of first refusal on any sale, records show.

Although the property has an unobstructed view of Biscayne Bay, the 97 units in the existing building are small and cheap.

 

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Marc305

This land and the unobstructed views that this small area has is too valuable for it to remain the way it is now. Sooner or later, tall skyscrapers will replace the small building standing there now.

Anonymous

Did Mario send you the article too?

Pamela Abbey

I own a place there! Should I sell now or wait for possibly more money later?

Maria Lazbal - Broker

Hi Pamela, Wait

Anonymous

“Units…existing…are small and cheap”

We can’t have anything other than large, expensive and vacant in Miami.

Anonymous

Except Bay Point warrants million dollar listings. The existing residents will likely get really good deals for their units.

Anonymous

Bay Point? What’s that?

Anonymous

Well, I actually meant “Point View,” which is the area with rounded streets in Brickell. Bay Point is a single-family gated community in the Upper East Side.

http://miami-history.com/point-view-subdivision-in-brickell/
“Given all the changes in the area, it is also a largely forgotten place.” Google Maps astonishingly recognizes it.

William

The original plat says Point View.. and the name of the street says Kathryn Blvd…. LT Highleyman was quite a business man.

Pamela Abbey

What does that mean?

Pamela Abbey

Are they selling it?

Pamela Abbey

I own there. Would it better to wait or sell now?

Pamela Abbey

Have you seen how beautiful some units are? Get over yourself! One was in Architectural Digest! Was yours!

Anonymous

Cha-Ching

Pamela Abbey

Why are you saying Cha-Ching?

Anonymous

Co-Op share owners should get nice payout = Cha Ching

Anonymous

It’s going to be very exciting to see the transformation around this area from 40+ year old towers to modern gems. Traffic will be quite difficult along Brickell Bay Drive, however.

mondocondo

Nice postings below by shills for the developer.

The surrounding condo’s, including the Four Seasons, are unlikely to stand by for a rezoning. The first attempt to rezone in this neighborhood, Babylon Apartments, went nowhere. Cheers.

Pamela Abbey

Do you feel it is impossible to get the area rezoned? I own a unit there and want to sell!!!

Babylon will be killed.

City of Miami Commissioners voted to demolish the Babylon Apartments 4 to 1. The current property owner was doing demolition by neglect.

Anonymous

Ugly building I hope they do tear it down and build something better

Anonymous

Please…if the rent is right, it is the most beautiful building in the world to me.

Pamela Abbey

How true!

Pamela Abbey

Looking in your mirror! You shouldn’t talk about yourself that way!

William

Raymundo and co seem to be very serious and professional developers. Congrat’s to them for the strong positioning and solid track record.

Pamela Abbey

Do you think it’s possible they will buy it? Won’t the Four Seasons stop them?

Pamela Abbey

Will they buy it

Pamela Abbey

Is this true

Pamela Abbey

What is going on ? I have a unit there???????

Pamela Abbey

What is happening? I own a unit there. I have it up for sale and I am paying two mortgages.

Anonymous

To Pamela: It depends on the price. Of course “real estate experts” are saying we are at the peak of the cycle, but said the same thing one and two years ago.

Anonymous

The reason that this area was not rezoned during miami 21 was due to Four Seasons
So there views would not be obstructed thus leaving these 60 year old buildings protected

Chris

That building is an eye sore… I had a buddy that rented in the building a couple year back. It looks like the building was falling apart. Hallways smelled funky.

Pamela Abbey

One rental does not a building make