Gazit Globe proposes 504-unit apartment tower in Brickell
Developer paid nearly $30M for Brickell Gateway site in 2017
Tel Aviv-based Gazit Globe Group wants to build a 504-unit apartment tower in Miami’s Brickell, steps from Metrorail and Metromover stations.
Gazit Globe’s U.S. subsidiary, Gazit Horizons, wants to develop the 642.8-foot tall — or more than 50-story — Brickell Gateway tower on a half-acre lot at 90 Southwest Eighth Street, according to an application submitted to Miami-Dade County by an affiliate of the developer. The project would include 16,882 square feet of retail and 245 parking spaces.
Gazit Horizons bought the property in 2017 for $29.5 million. It currently houses a three-story office building constructed in 1971.
The Israeli parent company owns, manages and develops mixed-use real estate in Israel, Brazil and throughout Europe and North America, according to its website. Its portfolio spans 102 properties, valued at $11 billion, in 14 countries. Chaim Katzman founded Gazit Globe and is its CEO.
Gazit Horizons, led by CEO Jeff Mooallem, has several New York properties. In 2021, it refinanced its retail property at 410 East 61st Street in the Upper East Side for $134.4 million in permanent credit term lease bond financing.
In a 2017 interview with The Real Deal about the Miami site purchase, Mooallem touted the Brickell property’s central location. The site is next to a completed section of The Underline linear park that runs along the Metrorail tracks and is also a few blocks southwest of Brickell City Centre.
Gazit Horizons is asking Miami-Dade for a special exception hearing in front of the Miami-Dade County Commission. In county filings, the developer says that the hearing is necessary, as the property is pending inclusion in a Metromover development subzone that is targeting transit-oriented projects. A pre-application meeting is scheduled for March 3, county records show.