The 2.5-acre vacant lot at 1201 Brickell Bay Drive (in Miami’s Brickell neighborhood) sold on April 20, 2022 for $363 million ($145,200,000/acre), according to Miami-Dade Office of the Property Appraiser. TWJ 1201 LLC, an entity linked to Tibor Hollo’s Florida East Coast Realty, previously purchased the lot in October 2000 for $15.5 million, affording it a gain of over two thousand two hundred percent. Bloomberg (citing “people familiar with the matter”) reports that Kenneth C. Griffin and his company Citadel are the true/end buyer.

According to The Next Miami, in 2016 the Federal Aviation Administration (FAA) approved plans to build a supertall tower rising 1,049 feet on the property and those plans were resubmitted in 2020 after approval expired.

Last Updated on June 28, 2022 by Ramin Seddiq