Russian billionaire buys Renzi’s Brickell site

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
Metronomic’s Kelly Beam and Ricky Trinidad along with the GroveHaus apartment building at 3265 Bird Avenue (Getty, Metronomic, Google Maps)
Metronomic loses Coconut Grove project in foreclosure sale
Metronomic loses Coconut Grove project in foreclosure sale
Metronomic's Kelly Beam with 3265 Bird Avenue (Metronomic Holdings, Google Maps)
Embattled developer’s Coconut Grove rentals head to auction
Embattled developer’s Coconut Grove rentals head to auction
Palm Beach Resort & Beach Club at 3031 South Ocean Boulevard (Google Maps)
Palm Beach timeshare resort sells out of bankruptcy for $10M
Palm Beach timeshare resort sells out of bankruptcy for $10M
From left: Pedro Villar, owner of Aloft Miami Brickell, along with his attorney Joe Pack (Newstar Media)
Aloft Miami-Brickell exits bankruptcy, staves off foreclosure
Aloft Miami-Brickell exits bankruptcy, staves off foreclosure
(Facebook via Hotel Astor Miami Beach)
Shuttered Hotel Astor in Miami Beach gets a new owner
Shuttered Hotel Astor in Miami Beach gets a new owner
Pedro Villar of Sunview Companies with the hotel (Marriott, LinkedIn via Villar)
Owner of Aloft Miami Brickell hotel files for bankruptcy
Owner of Aloft Miami Brickell hotel files for bankruptcy
The Holiday Inn at 340 Biscayne Boulevard in Miami and attorney Linda Worton Jackson
Bankruptcy could lead to redevelopment of downtown Miami Holiday Inn
Bankruptcy could lead to redevelopment of downtown Miami Holiday Inn
A rendering of the the property at 3601 North Miami Avenue and HES Group CEO Francisco Arocha (Photos via HES, Francisco Arocha)
Midtown Miami Triptych dev site owner files for Chapter 11 amid foreclosure
Midtown Miami Triptych dev site owner files for Chapter 11 amid foreclosure
arrow_forward_ios

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

Loading...