Frank McCourt joins as co-developer of Miami megaproject

2.5-acre parcel is last remaining development site on Brickell waterfront

New York /
Nov.November 24, 2014 12:17 PM

From the South Florida website: Frank McCourt’s MG Properties, in partnership with Tibor Hollo’s South Florida-based Florida East Coast Realty and New York-based Corgin Real Estate Group, is embarking on its first Miami venture, The Real Deal has learned.

McCourt is joining a development team for a 1.8 million-square-foot high-end condominium project on the last remaining development site on the Brickell waterfront.

The 2.5-acre site at 1201 Brickell Bay Drive on Biscayne Bay can hold as many as two 60-story towers. The properties would offer views from South Beach to Key Biscayne.

“1201 Brickell Bay Drive, with its enviable waterside location and other attributes, is a great strategic fit for us,” Drew McCourt, president of MG Properties, said in a statement.

Meanwhile, McCourt, former owner of the Los Angeles Dodgers, has been active in New York City, particularly Hudson Yards. In September, MG Properties brought in Hines as an equity and development partner on 360 10th Avenue, a $3 billion, 733,000-square-foot mixed-use project on the Far West Side, as TRD reported. He acquired that site for $167 million.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)
Facebook close to finalizing Hudson Yards office deal: report
Facebook close to finalizing Hudson Yards office deal: report
KKR chairman Henry Kravis, 30 Hudson Yards and Related Chairman Stephen Ross (Getty)
KKR buys Hudson Yards observation deck for $500M
KKR buys Hudson Yards observation deck for $500M
Radson Development co-founder Jacob Rad and the site of the development (Google Maps, LinkedIn via Rad)
Pair of mixed-use towers to rise at site of Hell’s Kitchen slaughterhouse
Pair of mixed-use towers to rise at site of Hell’s Kitchen slaughterhouse
Hudson Yards (Getty, iStock)
City’s bet on Hudson Yards beginning to pay off
City’s bet on Hudson Yards beginning to pay off
Peebles, Witkoff plan Hudson Yards supertall
Peebles, Witkoff plan Hudson Yards supertall
Peebles, Witkoff plan Hudson Yards supertall
1 South Pine Island Road in Plantation, FL (Nottingham Pine, Getty)
Pandora Papers ties Miami multifamily investor to offshore trusts linked to disgraced Catholic order
Pandora Papers ties Miami multifamily investor to offshore trusts linked to disgraced Catholic order
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...