Alta Development’s Henry Pino along with 160 and 180 Southwest Ninth Street (Getty, Google Maps)
Henry Pino has placed an eight-figure wager on the Brickell residential market.
His Alta Progress acquired a fifty percent-acre web page together Southwest Ninth Road for $15 million, with plans to build a 38-story tower with 320 residences, according to a news launch. Progesti, led by Jose Nunez, is the vendor.
The authentic estate is composed of a three-story, 24-unit condominium setting up built in 1964 at 180 Southwest Ninth Road and the adjacent, vacant ton at 160 Southwest Ninth Road. Progesti purchased the properties in two deals in 1999 and 2000 for a mixed $2.95 million, in accordance to records.
Virgilio Fernandez and Gerard Yetming ended up element of the Colliers group that shut the deal.
Brickell has morphed into a key office sector in mild of the firm expansions and outright relocations there, prompting builders to beef up the neighborhood’s condominium and condominium choices.
Between the developers betting on constructing residences in Brickell is Harvey Hernandez’s Newgard Growth Team, which programs a 2 million-square-foot challenge with a pair of apartment towers and an condominium making alongside Southwest Seventh Road and near the Miami River.
Also, a undertaking among the Mexican firms Menesse Condos and Investee, and their Miami-dependent spouse Lucid Financial commitment Group, desires to construct a 24-story condominium making with 350 models at 143 Southwest Ninth Street.
As for Pino, the apartment tower he programs in Brickell will not be his very first enterprise in the community. Ahead of he shaped his Alta Progress in 2020, he was a single of the executives at Alta Builders, which crafted the 12-story, 128-unit Le Parc at Brickell condominium at 1600 Southwest To start with Avenue.
On the business entrance, Brickell’s greatest score is billionaire hedge funder Ken Griffin’s prepared relocation of his Citadel and Citadel Securities headquarters from Chicago.
Griffin has retained Sterling Bay to establish the Citadel headquarters at 1201 Brickell Bay Generate, a 2.5-acre web site he bought for a history $363 million in April. It also has leased area at the 830 Brickell office environment tower being produced by Vlad Doronin’s OKO Group and Jonathan Goldstein’s Cain Worldwide.
The neighborhood is also in line to get a further business office tower, as Swire Homes and Stephen Ross’ Related Providers prepare the 1,000-foot tall One particular Brickell Metropolis Centre.
