MG, Florida East Coast Realty & Corigin Plan 60-Story Condo Tower in Miami

By Keith Loria, Contributing Editor 

MG Properties, Florida East Coast Realty and Corigin Real Estate Group, will team to develop 1201 Brickell Bay Drive, a 1.8-million-square-foot, luxury residential development on Biscayne Bay in Miami’s financial district.

“The world-class location and an opportunity to partner with two of the strongest organizations in the industry made 1201 Brickell Bay Drive an extremely attractive project for the MG Properties team,” Drew McCourt, MG Properties’ president, told Commercial Property Executive. “We see both substantial value and upside potential in Miami right now and this property is without a doubt among the best residential developments in the South Florida market today.”

The 2.5-acre property is the last remaining development space on Miami’s popular Brickell Corridor and offers prime waterfront property. Plans call for two main towers in excess of 60 stories, with each delivering panoramic views stretching from Key Biscayne to South Beach.

According to McCourt, when completed, 1201 Brickell Bay Drive will offer unparalleled amenities that will redefine luxury oceanfront living while providing Miami with a global icon.

“Building iconic structures in global gateway cities is a major focus for MG Properties and 1201 Brickell Bay Drive is a great fit for us,” McCourt said. “Successful development projects are built on exceptional work and deep local knowledge and with Corigin and Florida East Coast Realty, we have partners that clearly deliver both.”

Corigin Real Estate owns and manages 5 million square feet of real estate, primarily in New York City. Florida East Coast Realty has built more than 60 million square feet of construction, ranging from landmark residential and commercial high-rises to high-end retail centers, across South East Florida and beyond.

Current projects for MG Properties include a 740,000-square-foot, mixed-use development project at 360 Tenth Ave., in New York City; a 1.4-million-square-foot development project on Waller Creek in Austin, Texas; and approximately 260 acres of land in Chavez Ravine in Los Angeles.