Vlad Doronin adds to Edgewater assemblage with $54M purchase

The Edgewater property and Vlad Doronin
Vladislav Doronin’s OKO Group just paid $54 million to buy a 2-acre parcel fronting Biscayne Bay, adding to the Russian billionaire developer’s assemblage in Miami’s Edgewater neighborhood.
The property, at 720 Northeast 27th Street, is north of OKO Group’s Missoni Baia, a 57-story, 146-unit luxury condominium planned for 777 Northeast 26th Terrace.
London and New York-based private investment firm Cain Hoy partnered with OKO on the purchase. An OKO spokesperson told The Real Deal that Cain Hoy is also a partner on Missoni Baia and all OKO’s other developments in Miami. 
OKO Group and its partner bought the Edgewater property from Jesuit Fathers of the Province of the Antilles, a Jesuit group that had used the site for educational purposes and a retreat, the OKO Group spokesman said.
The property, on a corner lot surrounded by water on two sides, has a total of 475 feet of water frontage, “providing a prime development opportunity,” according to a release. OKO declined to provide more information on its development plans.
Brokers from various firms were involved in the deal, including HFF, Fairchild Partners, Global Investments Realty, and Shelton & Stewart Realtors, according to attorney Steven Carlyle Cronig, a partner in the Coral Gables office of Hinshaw & Culbertson, who represented OKO Group.
Cronig said negotiations lasted more than two years. Security Benefit Life Insurance Company provided the financing. The deal closed on Monday and has not yet been recorded.
OKO Group’s 649-foot Missoni Baia will be the Italian fashion brand’s first residential project. The condo tower is designed by Asymptote Architecture and Revuelta Architecture, with landscaping by Swiss architect Enzo Enea and interiors by Paris Forino Design. Units range from two to four bedrooms and will each have private terraces overlooking Biscayne Bay and two parking spaces. Miami’s Urban Development Review Board approved zoning waivers for the project in September.
OKO is also planning to build a 48-story residential tower at 175 Southeast 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 also the chairman of Aman, a luxury hotel brand.

Source: The Real Deal Miami

Missoni to brand OKO Group’s planned Edgewater tower

View from Missoni Baia and developer Vladislav Doronin
Italian fashion house Missoni will brand OKO Group’s latest venture, a 649-foot luxury condominium in Edgewater.
Missoni illustration by Olimpia Zagnoli (Click to enlarge)
Missoni Baia, at 700 Northeast 26th Terrace, will be the first residential development for the high-end fashion company. Missoni’s home collection and signature design palettes will be used throughout the building’s public spaces and amenities. Asymptote Architecture and Revuelta Architecture will design the 146-unit building along with landscaping by Swiss architect Enzo Enea and interiors by Paris Forino Design, a spokesperson for the developer told The Real Deal.
OKO is led by founder, chairman and CEO Vladislav Doronin.
Residences will have anywhere from two to four bedrooms, each with private terraces overlooking Biscayne Bay and two parking spaces. Amenities will include a flow-through deck with cabanas, an Olympic-sized lap pool, hot and cold plunge pools, a children’s pool and tennis courts. Residents will also have access to an infinity-edge pool on the development’s bayfront terrace, a gym, saunas and spa treatment rooms.
Cervera Real Estate, the project’s exclusive sales and marketing firm, will launch sales this spring. Cervera has led sales for a number of Edgewater projects, including Elysee, Aria on the Bay and Biscayne Beach. Prices for the units at Missoni Baia have not yet been released, according to the spokesperson.
Property records show an OKO Group affiliate paid a combined $42 million in 2014 for the 2.8 acres of waterfront land with about 200 feet of bay frontage. At the time of the sale, the land included a 12-story apartment building built in 1982.
Enzo Enea will incorporate tropical plants and reflecting pools into the development’s landscaping.
OKO recently opened an office in Miami’s Design District. Back in October, a division of OKO paid nearly $48 million to buy out a condo building at the south end of Brickell with plans to build a 48-story luxury condo tower.
Doronin is chairman of the Russia-based Capital Group, as well as owner and chairman of Aman, a luxury resort brand. He is also active in New York City.

Source: The Real Deal Miami