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

Developer is launching at a stagnant time in the market

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

Rendering of Missoni Baia with a concrete truck and Vlad Doronin (Credit: Getty Images and iStock)

5,800-ton concrete pour set for Missoni Baia condo tower

Rattan Chadha, Executive Chairman & Founder of CitizenM

CitizenM scores $48M loan to build Brickell hotel

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Len Blavatnik, 3425 Collins Avenue and Vlad Doronin (Credit: Google Maps, Getty, Wikipedia Commons)

Len Blavatnik teams with Vlad Doronin on Aman-branded towers in Faena District

Daily Digest Miami

Last call for Purdy Lounge, Russell Galbut wants to sell another Miami Beach hotel: Daily digest

Smart Brickell and Santiago Vanegas

Habitat moves forward with West Brickell condo, hotel project

Vlad Doronin and a rendering of Missoni Baia (Credit: Wikipedia Commons and Missoni Baia)

Vlad Doronin, partners score $243M loan for Edgewater tower

La Social’s original location at 7601 Biscayne Boulevard (Credit: Google Maps)

The Weekly Dish: La Social to open in downtown Miami, Salt & Straw is going to Wynwood 25 & more