Nearly 50 buyers have closed on their units at Una Residences, revealing the buyer pool and price point at the long-delayed luxury condo tower in south Brickell, according to an analysis by The Real Deal.
Billionaire Vlad Doronin’s OKO Group and Cain International, led by Jonathan Goldstein, in February secured a temporary certificate of occupancy for the 47-story, 129-unit glassy high-rise at 175 Southeast 25th Road in Miami. Miami-Dade County records show 50 deeds have been filed for a combined $172 million in dollar volume. Prices for the units range from $1.9 million to $8.3 million.
Buyers include a trust linked to German candy billionaire Maike Oberwelland-Height, which has closed on the priciest unit so far: $8.3 million for a condo on the 34th floor, records show. The same trust also recently acquired a penthouse at Vita at Grove Isle.
Manuel J. Balbontin, vice chairman of Vinci Compass, a Latin American alternative asset management firm based in Brazil, paid $6.2 million for a condo on the 21st floor, according to property records.
In another deal, a trust in the name of Bert van der Walt paid $2.6 million for a unit. Van der Walt is a co-founder and Portfolio Manager at Tectonic Investors, a multibillion-dollar investment adviser.
Una Residences, designed by Adrian Smith + Gordon Gill, is the first new waterfront condo in Brickell in more than a decade, according to a release about the completion. As of earlier this year it was more than 90 percent presold, which includes the sales of two nearly $18 million tri-story penthouses. Remaining units range from $6.2 million to $10.8 million.
Presales launched in 2018, and construction of Una was expected to be finished in early 2023, making its completion date at least three years late. The developers helped finance construction with a $128.3 million loan from Bank OZK in 2021.
Amenities include three swimming pools, a fitness center, spa and steam room, lounge and children’s area, according to the release. Units range from two to five bedrooms, and from 1,100 square feet to nearly 4,800 space feet, not including terrace space.
OKO paid $48 million for the nearly 1-acre parcel, the site of the former 11-story, 25 Bay Tower Condo building, in 2015.
A number of developers, including OKO and Cain, have faced delays completing other projects, especially as the construction of these buildings becomes more complex.
At OKO and Cain’s 60-story, 249-unit Missoni Baia tower in Edgewater, a legal fight is underway. The building, completed in 2024, sustained foundation damage from uneven settling during construction, according to OKO’s lawsuit against its insurers on the project. OKO is looking to collect $22.4 million.
Last year, the unit owner-controlled condo association sued the developer and its construction team, alleging issues such as cracks in slabs, foundations and columns, water intrusion, hot water problems, defective fire alarms, sprinkler and pool plumbing problems and inoperable elevators.
OKO and Cain also completed 830 Brickell, a Class A, fully leased office tower nearby in Brickell. They are also co-developing the Aman-anchored One Beverly Hills mixed-use project with a hotel, private members club and a residential component.
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