Brickell’s CCCC Tower site has been sold, according to newly filed court documents.
China City, which owns a 55% stake, is said to have orchestrated the sale.
Asia Allied, which owns a 45% stake, was granted an emergency injunction after learning of a transfer of ownership to a company called Rega Center LLC. Asia Allied says the transfer is fraudulent.
The valuable property is an irreplaceable development site in densely built Brickell, and Chinese developers had planned to build two of Miami’s tallest towers there.
Developer China City Construction later fell into financial difficulties at home and the Miami project was shelved.
The land has sat as a vacant pit for years as two partners battled in a Hong Kong court for control. Excavation of the site two floors below ground occurred in the last decade, and last year the city ordered emergency repairs after declaring the property unsafe.
Current design by Arquitectonica:
Previous design for Capital at Brickell on the same site by architect Fullerton Diaz