Construction of Brickell’s first waterfront residential development in over a decade, Una Residences, has completed vertical development and “topped off” at 47 stories. The ultra-luxury project, situated at 175 NE 25th Road within Miami’s picturesque and private South Brickell enclave, is being developed by OKO Group and Cain International.
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Tri-Level Penthouse at Una Residences Sets Brickell Record With $17.75 Million Sale As Vertical Construction Passes Fifth Level
An upper tri-level penthouse atop OKO Group and Cain International’s Una Residences in Miami has sold for $17.75 million, a record sales price for the City’s Brickell submarket. The 7,084-square-foot residence, sold at $2,506 per square foot, also stands as the highest price per square foot deal in the City of Miami. Una's upper penthouse residence was purchased by a domestic buyer seeking a secondary home in Miami.
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OKO Group and CAIN International Lock Down $128.3 Million Construction Loan For Una Residences
OKO Group and Cain International have secured $128.3 million in construction financing for Una Residences. The senior debt, which was provided by Bank OZK, will fund the ongoing development of the 47-story luxury condo tower, which broke ground in May 2020 and has over $75 million in sales over the past four months.
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Una Residences by OKO Group and Cain International.
OKO Group and Cain International Complete $74 Million in Condo Sales Since the Start of the New Year at Miami’s Missoni Baia and Una Residences
Miami’s newest luxury condominium towers are tapping into a surge of domestic buyers fueled by the city’s desirable quality of life, lower business and living expenses, and Florida’s tax-friendly policies.
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The Development Of Miami's Most Expensive And Deepest Underground Parking Garage Is Underway
Una Residences condominium will soon have Miami’s deepest underground parking garage with construction underway. The garage will reach nearly 50 feet and three stories below sea level and will become the most expensive underground parking garage in Miami costing developers $25 million to build.
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OKO Group's Vladislav Doronin Buys Fort Lauderdale Assemblage for $63 Million
A land trust controlled by OKO Group’s Vladislav Doronin, a billionaire real estate developer from Russia who is now has headquarters in New York and Miami, has acquired a 6.7 acre assemblage in Fort Lauderdale for $63 million.
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Vanessa Grout Named CEO of OKO Group’s New Venture
Vanessa Grout has been named the CEO of OKO Real Estate, a new venture to expand the sales and marketing capabilities of Vladislav Doronin’s OKO Group. OKO Group currently has four projects under construction in Miami, including Una Residences and Missoni Baia, and another project under construction in Manhattan.
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Demolition Clears The Way For OKO Group And Cain International's Una Residences To Break Ground
An 11-story former condo building at 175 SE 25th Road, which was built in 1971 ,has been demolished, clearing the way for the highly-anticipated condo tower Una Residences to break ground in the near future. Una Residences is being developed by OKO Group, led by Vladislav Doronin, and Cain International.
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Una Residences Given Green Light
OKO Group’s latest development, the nautically-inspired Una Residences, has now been approved by Miami’s Urban Development Review Board. This key step brings the 47-story condo building, proposed for 175 SE 25th Road, a little closer to inception at the crossroads of Coconut Grove and Brickell.
The building will feature 135 waterfront condos starting at $942,000, an underground parking garage, and public baywalk that connects to an adjoining park. The review board granted a request to allow ingress for vehicle entries at the loading docks and service area, which will pave the way for the demolition of the current structure.
This process of condo termination and redevelopment has been fueled by CEO of OKO Group, Vladislav Doronin’s confidence in the site, which he began to assemble back in 2016 by buying out current residents at nearly double the expected market value. “There has been no new construction here for the last 10 years,” says Doronin. “We were lucky to manage to purchase this site. And for the near-future, no one else is going to build here. We won’t have any competitors in South Brickell.”
This developer strategy of parcel identification and repurposing can be expected to continue in the upcoming real estate cycle as waterfront property becomes more scarce in Miami. Sales for Una, which are being handled exclusively by Fortune International Realty, went live back in March. Cash buyers have been the cornerstone to Una’s pre-sale success, most coming from overseas, since the building has not yet secured any form of traditional financing.
The project is expected to be completed by 2021.
Article by: Katya Demina