Developer Trying To Buy Out Entire Brickell Condo Building

A developer is offering to buy out all of the owners in a Brickell condo building.

The 17-story Brickell Harbour condominium is the target. There are 185 units in the building, ranging in size from 612 to 1,641 square feet. Recent sales have been in the $300 psf range.

The property is 1.69 acres directly on Biscayne Bay, and includes a marina. The existing building would likely be demolished and replaced with a much bigger tower if the deal goes through.

Owners in the building were recently hit with a special assessment that will last seven years, according to Sarah Elles Boggs, who obtained the offer letter.

Boggs speculates that the buyer could be Russian billionaire Vladislav Doronin’s OKO Group. The same attorneys represented Doronin in the buyout of another condo building at 175 S.E. 25th Road.