Brickell, a booming financial district in Miami, is set to be home to a new 77-story condominium, Ora by Casa Tua. According to the South Florida Business Journal, in a multimillion-dollar transaction, Fortune International Group has procured the Brickell Avenue property for $31.16 million to pave the way for its latest venture.
The acquired area consists of a sizable 1.06-acre lot that houses a 248,533-square-foot parking garage and an adjacent sliver of land. The larger portion was sold by Patagonian Investments Internacional LLC, led by Federico Carabetta, for $30 million, while the smaller slice came from 1210 Brickell LLC, under Jose Gonzalez, fetching $1.16 million. Coral Gables-based Amerant Bank has provided a crucial $36.08 million pre-development loan to jumpstart the preliminary project phases. This anticipated high-rise is designed by Miami-based firm Arquitectonica and includes plans for construction to commence in 2025.
The development is expected to stand out with its 533 fully furnished condos, which may range in price from $950,000 to upwards of $3 million as per the developer's previous announcements. "The acquisition of the site and loan closing are principal steps that mark an exciting beginning for Ora by Casa Tua’s vision to take shape,” stated Edgardo Defortuna, President, and CEO of Fortune International Group, as reported by the South Florida Business Journal. The building's amenities are set to include a luxury dining experience with two restaurant concepts and a gourmet market by Casa Tua.
Moreover, the blend of residential and commercial spaces aims to heighten the allure of the area, providing 53,841 square feet of office space and 24,260 square feet of commercial area. The building is anticipated to cater not only to high-end residential buyers but also to businesses seeking prime real estate in a flourishing district. Additionally, a skywalk is planned to connect the building's parking garage to an adjacent office building at 1200 Brickell Avenue. The project has reportedly garnered "great interest," with sales of the units predicted to commence shortly, as stated by The Next Miami.
