Russian billionaire buys Renzi’s Brickell site

Man said to be Nets owner pays $21.5M

TRD MIAMI /
Sep.September 03, 2013 02:57 PM

Oleg Baibakov, a Russian oligarch and former executive at metals giant Norilsk Nickel, has been revealed as the buyer and winning bidder of a prime condo site in Brickell.

A lawsuit from the losing buyer showed the identity behind Watson Investigations LLC, which has purchased the 33,927-square-foot site on which bankrupt Miami developer Renzo Renzi had sought to build Beacon at Brickell Village.

In June, U.S. Bankruptcy Judge Laurel Isicoff allowed for Renzi to lose the site of the proposed condo project through a sale to Crystal Tower on Brickell Plaza LLC. Baibakov outbidded Crystal Tower with a $21.5 million offer.

Baibakov has said he is an owner of the Brooklyn Nets. He also owns a condo at W South Beach, and an apartment at Columbus Circle in Manhattan that listed for $25 million. [exMiami]Mark Maurer


Related Articles

arrow_forward_ios
An iPic theater (Credit: iPic)

iPic files for bankruptcy, citing delayed Delray Beach project as a factor

Brenda Nestor’s Islamorada property hits market in bankruptcy sale

Brenda Nestor’s Islamorada property hits market in bankruptcy sale

Company that oversaw construction of collapsed FIU bridge files for bankruptcy

Company that oversaw construction of collapsed FIU bridge files for bankruptcy

New bidder emerges in Palm House Hotel sale

New bidder emerges in Palm House Hotel sale

Baring it all, Brickell Motors CEO bids $9.7M for King of Diamonds strip club property

Baring it all, Brickell Motors CEO bids $9.7M for King of Diamonds strip club property

Bankruptcy judge rejects Glenn Straub’s bid for failed Palm House Hotel

Bankruptcy judge rejects Glenn Straub’s bid for failed Palm House Hotel

Fort Lauderdale motel allegedly hasn’t paid taxes in years, files for bankruptcy

Fort Lauderdale motel allegedly hasn’t paid taxes in years, files for bankruptcy

Palm Beach EB-5 developer’s estate heading to auction

Palm Beach EB-5 developer’s estate heading to auction

arrow_forward_ios
Loading...