Up To 80 Stories Can Be Built At Mary Brickell Village, New Owner Says

Mary Brickell Village has just been sold – and the new owner says it can build up to 80 stories tall on the property.

Publicly traded New York-based RPT Realty said in an August 3 press release that it acquired the shopping mall for $216 million.

The 5.2-acre property has development potential with “compelling value-creation opportunities,” the release said.

“The site’s zoning allows for the potential to develop up to 80 stories or 4.1 million square feet which could consist of residential, office and hospitality.”

It isn’t clear if the zoning density refers to the City of Miami zoning rules, or Miami-Dade County rapid-transit zoning rules which generally allow for more intense use.

The property is currently 78% occupied with 31,700 square feet of signed leases, representing almost 16% of occupancy upside, RPT said.

Tenant sales at Mary Brickell Village average over $1,100 per square foot, according to RPT.

 

 

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Anon
1 month ago

I really like Mary Brickell Village – it breaks up the monotony of the urban landscape and provides some variety

Anonymous
1 month ago

Don’t mess with Mary Brickell Village! It’s on of the more attractive places in the area.

Anon
1 month ago

I agree – it provides plenty of much needed public space in Brickell – would be a shame if it was all taken away

Pol
1 month ago

Up zone little Havana.

Original
1 month ago

I agree…

Anonymous
1 month ago

Would be horrible to tear this down and build a condo…sigh

Anonymous
1 month ago

I think it looks great as is, it just needs more restaurants and bars!

Melo is sigma and Chad
1 month ago

oof, they’re going to turn it dead like the redevoplment at coco walk

Anonymous
1 month ago

Ugh… I don’t even want to imagine another sterile, gunmetal grey Apple Store lookalike topped with another CitizenM-tier monstrosity.

Anonymous
1 month ago

But…BCC is literally across the street. Thats what makes Brickell so amazing, you have choice. If you want a village mall where you can bar hop from bar and restaraunt to bar, you can. If you want a mega mall to do your shopping, you can. Dont make everything the same!

Hail Mary
1 month ago

As much as I like MBV today, it could easily be renovated/upgraded while keeping the same amount or more of open space.

Anonymous
1 month ago

Wasn’t it just renovated a couple years ago?

Brickellista
1 month ago

New pavers? 😂

Paul
1 month ago

The reason Mary Brickell Village is so refreshing is because a lot of new skyscrapers are set back the minimum amount with the same 5’ sidewalks you’ll find alongside Kendall Drive. Miami21 is flawed in this regard. The setbacks are too damned small!

Alcoholiotic
1 month ago

The article doesn’t state that the new buyer plans to do anything with this site, it just said how many stories a building can be built if it were to replaced with one.

Paul
1 month ago

Better demolish and clear the lot now and get a density/height variance for maximum flip potential /s

Junior
1 month ago

Apparently you are a real estate agent or better yet not from Miami

Junior
1 month ago

We should always try to maintain the character of any neighborhood isn’t that the reason everyone wants to live in paradise

Nathaniel Martin
1 month ago

This is really tragic. The low-rise retail complex there, while aesthetically dated, is an important complement to the thicket of high-rises in the Brickell area.

Anon
1 month ago

I wonder if the Nine has any say in this?

Lenny
1 month ago

Nope

Chyneesha
1 month ago

not like they could stop it anyways.

zzz
1 month ago

Isn’t Blue Martini actively working on a renovation/re-opening? I doubt this is going to result in a tower anything soon

ANON
1 month ago

Hopefully this results in no more Blu Martini

s.k
1 month ago

Some signage was removed. Could it be for ventilation or could it be that they dropped the project. We’ll see.

s.k
1 month ago

MBV East lot on Brickell Plaza street is abandoned and depressing. Same happens in the middle of the West lot. At least I wish they reconfigured these areas for a better foot traffic.

Anonymous
1 month ago

Yes. Have been saying this for years. The retail places that move in to MBV on the inward portion of the Western lot are pretty much destined for failure. Virtually no signage directing people inward and therefore no foot traffic.

Anonymous
1 month ago

Extremely underutilized based on density…only a matter of time

Anonymous
1 month ago

That’s what happens when you have too much shopping that close to one another.

Anonymous
1 month ago

MBV isnt supposed to be for shopping, its for eating and drinking. You shop at BCC and then you get drunk at MBV.

Anonymous ;-)
1 month ago

This is one of the downsides of Miami zoning. It’s great that development can take place quickly when the developer is motivated, but the risk in a lot of neighborhoods is many closely-packed buildings of consistent height. These are not wide streets by NYC Avenue standards or even Chicago, so neighboring towers can be right on top of each other.

Anon
1 month ago

We need to have lower density zoning mixed in with the higher density zoning

Anonymous
1 month ago

Absolutely agree.

Jeremey Howlett
1 month ago

That is the heart of brickell area. It should definitely stay and or become the town square of the area. Include the lots across the street to the east, and get rid of the high rise zoning so that this area is not boxed in and shaded most of the day. Maybe add some green space.

Nunya
1 month ago

Took zero lessons from Coco Walk in Coconut Grove when this was designed. That’s why all the restaurants/shops on the inside have failed. Antiquated boring design/layout.

Anonymous
1 month ago

Would the condo come with binoculars to better see the people in the next condo? Like Billie Eillish in the SNL spoof of NextDoor?

https://mashable.com/video/snl-nextdoor-ad-billie-eilish-kate-mckinnon

Anonymous
1 month ago

Mary Brickell Village Soaring.

Anonymous
1 month ago

I never thought about it before but is there one of those free “trolley” busses that goes back and forth from Brickell Key? Should Miami extend the MetroMover there? And anyone who lives there how likely are you to take MetroRail or Brightline? Always like getting different perspectives on what people in different parts of south florida think is important in terms of transportation.

Anonymous but Famous
1 month ago

I fear for the fate of the two Miami Avenue blocks to the south, which even includes an Italianate/ Moroccan mansion hidden inside it.

lop
1 month ago

Please tear it down and redevelop, as they did in Cocowalk.. Right now its a bunch of money laundry businesses anyway.

Hausmann
1 month ago

They need to demolish the center retail building and create a plaza/park. Replace the retail segment on the east side of soma with a mixed use 80 story tower.

Downtown Vagabond
1 month ago

Hope they’re able to build a huge building there with even more ground-floor activity. Could really add a lot while adding much needed housing and office space to Brickell!