1201 Brickell Bay Drive in Miami, Florida, is a notable waterfront parcel of land recognized for a significant real estate transaction and its potential for future development.
Site Acquisition and Significance
This property gained prominence following its acquisition by Ken Griffin. Key details of the purchase include:
- Purchase Price: $363 million, a record-breaking figure for land in the area.
- Year of Purchase: 2022.
- Land Area: Approximately 2.5 acres.
- Location: Prime waterfront position on Brickell Bay Drive.
Development Intentions and Constraints
The site located at 1201 Brickell Bay Drive is slated for the development of a new headquarters. However, any construction on this plot is subject to specific limitations:
- Primary Use: Designated for a new corporate headquarters.
- Regulatory Oversight: Development plans must adhere to height restrictions imposed by the Federal Aviation Administration (FAA) due to its proximity to flight paths.
The strategic acquisition and planned development at this address underscore its importance in Miami's evolving commercial real estate landscape, particularly within the prestigious Brickell financial district.
