The Real Deal Miami

The Bond on Brickell sells out for $183M

44-story, 328-unit tower was built without lender financing
April 27, 2017 04:45PM

The Bond on Brickell. Inset: developer Alan Ojeda and broker Alicia Cervera Lamadrid

The Bond on Brickell has sold out for $183 million.

Cervera Real Estate handed sales and marketing of the Bond, which launched sales four years ago and was delivered in September. The Rilea Group, led by Alan Ojeda, and MDR Toledo developed the 44-story, 328-unit tower at 1080 Brickell Avenue. 

The Bond sold to buyers from more than 20 countries, including Venezuela, Argentina, Brazil and Mexico, according to a press release. It marks one of the few towers in Greater Downtown Miami to be built without lender financing. Prices ranged from the $200,000s to more than $1 million, a spokesperson said.

Property records show MDR Toledo LLC paid $17.4 million for the 37,300-square-foot development site in 2012.

Nichols Brosch Wurst Wolfe & Associates designed the British-themed building, and Coastal Construction was the general contractor. Common spaces were designed by Mexico-based Loguer Design, including hand-stitched leather and suede walls, tufted sofas and pinstriped granite floors. Amenities include a resort-style amenity deck, library, children’s learning center, wet bar and kitchen, private cabanas, gym, pool and Jacuzzi.

MDR, a Spanish investment group, paid $34 million for an office tower in Coral Gables in late 2015. The Miami-based Rilea Group has developed 1450 Brickell, One Broadway and the Sabadell Financial Center at 1111 Brickell Avenue, according to the release.

Other new condo projects to open this cycle in the Brickell area include Brickell City Centre’s Rise and Reach towers, SLS Brickell and Brickell Heights. – Katherine Kallergis

An earlier version of this story incorrectly stated that MDR developed 1450 Brickell, One Broadway and 1111 Brickell Avenue. The Rilea Group developed those buildings.