A developer is in talks to buy a waterfront property in Brickell, according to Commercial Observer.
Oak Row Equities has signed a Letter of Intent and placed a refundable deposit on the properties at 1001 and 1111 Brickell Bay Drive.
Aimco currently owns the properties.
The negotiations are for a purchase price of around $500m.
Two towers are currently on the property, including a multifamily tower and an office tower.
They are likely to be redeveloped into luxury condos.
The waterfront site allows a potential supertall height.
Citadel is planning a supertall office tower designed by Foster & Partners down the block.
