Capital At Brickell Site Sold To Chinese For $75M; Will Be Redesigned

The Capital at Brickell site has been sold for $74.74 million.

CCCC International USA LLC, a subsidiary of Beijing’s China City Construction and American Da Tang Group of New York, is the buyer.

The 2.78-acre site was approved for a Major Use Special Permit allowing a 1.3-million square foot, twin-tower project. Those plans will be scrapped and replaced, according to an interview of American Da Tang’s CEO in the DBR.

Excavation at the site had started, but was halted due to market conditions.

The seller is a subsidiary of Mexican conglomerate GICSA, controlled by the Cababie family. GICSA developed downtown Miami’s Vizcayne condos.

The new owner will be able to redesign the project under the Miami 21 zoning code with a maximum of 3.2 million square feet.

 

(photo:philip pessar/flickr)

 American Da Tang CEO Shanjie Li meets Ugo Colombo, Edgardo Defortuna, and Carlos Rosso