A 4.25-acre waterfront assemblage on Brickell Bay Drive has traded for $520 million, marking the largest single land acquisition ever in Florida. The site, at 1001 and 1111 Brickell Bay Drive, offers 485 feet of uninterrupted Biscayne Bay frontage and is the last developable parcel of this scale in Brickell’s financial district.

The purchase was made by a joint venture between Oak Row Equities, OKO Group, and Mariposa Real Estate, with TYKO Capital as senior lender.

The project is expected to set a new benchmark for ultra-luxury living and ...