The Real Deal Miami

One Thousand Museum developers acquire project site

Regalia Group brought in as partner on Zaha Hadid-designed condo tower

August 25, 2014 09:45AM

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Rendering for One Thousand Museum and Zaha Hadid

Rendering for One Thousand Museum and Zaha Hadid

The developers of the Zaha Hadid-designed One Thousand Museum tower closed on the purchase of the downtown Miami site and brought in Regalia Group as a project partner.

Louis Birdman and Gregg Covin’s 1000 Biscayne Tower LLC purchase the two-property site for a combined $36 million in cash, according to Friday’s written announcement from a project spokesperson. The 62-story, 83-unit One Thousand Museum is the first Hadid-designed skyscraper planned in the Western Hemisphere. Condos will range in size from 4,600 square feet to more than 10,000 square feet.

The partnership with Regalia was formed in May. Regalia just completed a 46-story luxury condo tower in Sunny Isles Beach.

“The Regalia Group had the capital and resources to enable it to successfully complete Regalia,” Birdman said. “With the added strength of Regalia’s financial resources and experience in the luxury high-rise market, One Thousand Museum’s successful completion of the Zaha Hadid-designed tower is assured.

Harvey Daniels of ONE Sotheby’s International Realty is exclusively handling sales for the project, which is more than one-third presold. Construction of the tower could begin as soon as this fall. — Eric Kalis