Vlad Doronin’s OKO Group launches new condo project in Brickell

Developer is launching at a stagnant time in the market

Miami /
Mar.March 06, 2018 01:47 PM

Rendering of Una and Vladislav Doronin (Credit: OKO Group)

Slowdown? What slowdown? Russian billionaire Vlad Doronin is launching a new project in Brickell.

Doronin’s OKO Group and investment firm Cain International released plans for Una, a 47-story, 135-unit luxury waterfront condo building for the site at 175 Southeast 25th Road. Fortune Development Sales, which is handling OKO’s Missoni Baia tower in Edgewater, was hired as the exclusive sales and marketing firm, according to a release. Units will range from 1,100 square feet to 4,786 square feet and start at $900,000.

In October, the developer broke ground on Missoni Baia, a 249-unit luxury condo building, despite the market-wide slowdown in luxury condo sales. A recent report found that Miami-Dade has four years of existing luxury inventory – excluding the preconstruction market. Nearly 2,800 units are on the market asking at least $1 million, according to Condo Vultures Realty.

Una will be designed by Adrian Smith + Gordon Gill Architecture and will include two penthouses with their own pools. OKO paid $48 million for the nearly one-acre parcel, the site of the former 11-story, 25 Bay Tower Condo building, in 2015.

A year later, OKO partnered with Cain International to buy a 2-acre parcel at 720 Northeast 27th Street, also in Edgewater, for $54 million. – Amanda Rabines


Related Articles

arrow_forward_ios
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
Michael Stern and a rendering of the project (Getty, JDS Development/SHoP Archictects)

Michael Stern pays $24M for future site of 62-story Brickell tower

Michael Stern pays $24M for future site of 62-story Brickell tower
Major Food Group's Jeff Zalaznick and the Design District location (iStock)

New York restaurateur Major Food Group to open three concepts in Miami

New York restaurateur Major Food Group to open three concepts in Miami
Civic Construction CEO Williams Real, Vlad Doronin and an aerial view of the Brickell project's foundation (Getty, Linkedin, Golden Dusk Photography)

Construction accident at OKO Group’s Brickell tower site in Miami lands six workers in the hospital

Construction accident at OKO Group’s Brickell tower site in Miami lands six workers in the hospital
(iStock)

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2
Jay Parker and Mike Sales, with 801 Brickell Avenue (Credit: Google Maps)

TIAA sues Douglas Elliman over allegedly unpaid rent at Brickell high-rise

TIAA sues Douglas Elliman over allegedly unpaid rent at Brickell high-rise
320 85th Street in Miami Beach (Credit: Google Maps)

Lawsuit alleges Brickell brokerage violated Fair Housing Act

Lawsuit alleges Brickell brokerage violated Fair Housing Act
Vladislav Doronin (Credit: Gesi Schilling via Wikipedia)

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M
arrow_forward_ios

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

Loading...