Baybakov Begins Demolishing All Of The Buildings On A 2.5-Acre Edgewater Block He Owns

Russian investor Oleg Baybakov is clearing the Edgewater land that he bought last year, demolishing buildings as tall as 12 stories and as old as 89 years.

Plans were recently approved by the city to demolish the largest building on the block, a 12-story, 58-unit apartment tower that is directly on the bay. The MBay condo tower was once proposed there by a previous owner. Plans were also filed last month to rebuild the seawall on the property.

Other buildings that are being demolished include some dating back to 1926, 1927 and 1934.

Baybakov’s 700 Edgwater Development LLC assembled most of the block where the buildings are located last year, paying $39.8 million for 109,422 square feet of land. Just two corner lots totaling 10,000-square-feet have a separate owner.

 

 

 

12-story apartment building (white) being demolished:

This 18-unit apartment building dates back to 1926:

10 Comments
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Anonymous
5 years ago

Lived in that white building for many years. Good memories. Excited to see what’s next.

Marc305
5 years ago

The land right on the bay is just too valuable, people will pay a high premium for the water views overlooking South Beach. I just hope that Baybakov will design something beautiful in an area so visible of Miami.

Anonymous
5 years ago

We better get something amazing after seeing all these pre-war beauties fall. I’ve seen too many 1920s Mediterranean Revival mansions and apartment houses worthy of historic preservation replaced with parking garages with no street interaction jutting out cereal boxes.

laz
5 years ago

well beauty is in the eye of the beholder many of these were run down, but I do agree with you on the fact that some of these should have been designated but the preservationist spent so much time on particular homes in the city that they forgot a whole neighborhood so most of it is all gone now.

Anonymous
5 years ago

Many restored historic buildings were run-down at the time of their movement for designation (i.e. presently Little Havana and once South Beach). Also, it’s common for a owner/developer to allow a building to deteriorate on purpose so he can claim it’s structurally unsafe and requires demolition, which is a major problem.

Anonymous
5 years ago

I’ve seen preliminary designs for the tower. It’s an irregular shaped tower with wrapped generous balconies, and a separate parking structure on the west side of the property. It not jaw-dropping amazing, but it is nice. Definitely not just a box.

Anonymous
5 years ago

Sharing is caring!

Anonymous
5 years ago
Anonymous
5 years ago

I wish we could move the beautiful 1920’s buildings to West Palm Beach where they would be appreciated…

Jason Strong
4 years ago

My roommates and I watched an entire apartment complex get destroyed and it honestly was one of the coolest things I’ve ever seen. Ever since then, I have been wanting to learn more about it and what their job is outside of just destroying stuff. This helped me see that they help keep the production of a city or community going and it got me wanting to learn more about it.