Implosion Scheduled This Weekend To Make Way For Edgewater’s Tallest Tower

On Saturday morning, a 12-story Edgewater apartment building will be imploded.

It will be replaced with a 649-foot tower, according plans recently filed by 700 Edgewater, LLC, the owner of the property. At that height, it would be the tallest building in Edgewater, although other towers at the same height are planned within blocks.

Oleg Baybakov, a Russian oligarch, has been linked to ownership of the property. The parent company of 700 Edgewater lists Baybakov as a manager.

A company called OKO Group, which may be linked to Baybakov, owns 700 Edgewater, according to a press release from CBRE this week.

OKO is also active in Brickell. The company closed on the purchase of a property there for $48 million this week, and a 48-story tower is planned.

OKO owns at least one more development site in Miami, the CBRE release said. A 2013 lawsuit said that Baybakov owned a portion of the 830 Brickell site, and the company owning that property is managed by the same lawyer Baybakov has used for his other properties. A Baybakov representative has denied that he is involved with that property, however.