Edge On Brickell In Property Swap That Creates Paper Profits For Both Parties

The property where The Edge on Brickell condo project is proposed has been sold for $18.3 million.

The buyer is Brickview 3114 LLC, a company which could be linked to Leonidas Macedo. Another entity managed by Macedo has also proposed a condo project in North Bay Village.

In a related deal, Brickview 3114 LLC sold a waterfront home at 6455 Pine Tree Drive Circle in Miami Beach to Edge on Brickell LLC, managed by Rafael Aragones, for $13 million.

Both companies make a big profit with the swap – at least on paper. The Edge on Brickell last sold in 2013 for $3.65 million, while the Pine Tree Drive Circle home sold last year for $7 million.