PRESS RELEASE: OKO GROUP PURCHASES PRIME WATERFRONT PROPERTY IN MIAMI’S EDGEWATER NEIGHBORHOOD
Transaction marks second major acquisition in the neighborhood for developer Vladislav Doronin’s OKO Group, following Missoni Baia
MIAMI, Florida | November 23, 2016 – OKO Group, the Miami-based development company founded by international real estate developer Vladislav Doronin, along with its partner, London- and New York-based private investment firm Cain Hoy, announced today that the partnership has closed on the purchase of 720 N.E. 27th Street in Edgewater. The two-acre property boasts 475 feet of frontage along Biscayne Bay on a rare corner lot surrounded by water on two sides, providing a prime development opportunity for the two firms in one of South Florida’s most exciting up-and-coming neighborhoods. The property was purchased for $54 million from the Jesuit Fathers of the Province of the Antilles, Inc.
The site is well situated to take advantage of increasing development activity and demand in the waterfront residential enclave of Edgewater, which is located between the financial hub of Downtown Miami and the culture-rich Design District and Wynwood neighborhoods. Edgewater’s appeal has been bolstered by luxury residential developments in the immediate neighborhood, including Doronin’s OKO Group, which is currently developing the 649-foot-tall Missoni Baia waterfront luxury condominium tower at 777 N.E. 26th Terrace. The Missoni Baia development stands directly across from the 720 N.E. 27th Street parcel.
Missoni Baia, the first ever residential collaboration from the storied Italian fashion brand Missoni, is an unprecedented development for Edgewater, bringing together a world-class design team that includes renowned architect Hani Rashid of Asymptote Architecture, interior designer Paris Forino and members of the Missoni family. The sculptural tower’s 146 expansive residences are complemented by an impressive array of lifestyle amenities and services curated by Missoni.
Plans for the 720 N.E. 27th Street property will be announced at a later date. Other projects in OKO Group’s Miami development pipeline include a 48-story residential tower at 175 S.E. 25th Road to be designed by Adrian Smith + Gordon Gill Architecture, and a retail and residential tower at 830 Brickell Avenue. Doronin, Chairman and CEO of OKO Group, is one of the most prolific luxury real estate developers throughout the world, and he is also the Chairman of Aman, one of the world’s leading luxury hotel brands.
About OKO Group
OKO Group is an international real estate development firm established by Chairman and CEO, Vladislav Doronin. OKO Group builds on the formidable expertise of Mr. Doronin, one of the most successful and respected developers in Europe, and his peerless track record in constructing more than 75 million square feet of world-class commercial, retail and luxury residential space over a total of 71 buildings as Founder of Capital Group.
OKO Group brings not only considerable financial strength to the U.S. market, but also a passion for working with the very best architects and designers in the world, including Pritzker Prize–winning architect Zaha Hadid, the preeminent American architecture firms Skidmore, Owings & Merrill, Asymptote Architecture and Adrian Smith + Gordon Gill Architecture, Italy-based Iosa Ghini Associati and the acclaimed French designer Jacques Grange. OKO Group’s current U.S. portfolio includes prime properties and development projects in Miami and New York City. As owner and Chairman of Aman, one of the most admired hospitality brands in the world, Mr. Doronin’s global business portfolio spans across Europe, Asia and the U.S. More information about OKO Group is available at okogroup.com
About Cain Hoy Enterprises
Cain Hoy Enterprises is a private investment company financed with permanent capital that owns a diversified portfolio of real estate investments. Headquartered in London and New York, it is run by its Chief Executive Jonathan Goldstein. Cain Hoy won Financier of the Year at the Property Week Property Awards 2016. Further information is available at cainhoyenterprises.com