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Cabi Developers
An affiliate of China City Construction and American Da Tang Group have bought the 2.39 acre site that was formally Capital at Brickell, according to the Daily Business Review.
The site had been for sale since 2013 and marketed by CBRE. The 1430 S. Miami location is right next to the under construction SLS Brickell and in the heart of the building boom in Brickell.
For Sale Sign at Capital at Brickell
Located near the western edge of Brickell, Capital at Brickell was supposed to consist of two towers that would be residential, office and retail space. The two towers were going to rise 53 and 57 stories. However, the buildings fell victim to the recession in 2008 and construction never got started.
While the 2.78 acre land sat empty for a few years, two Mexican Developers, Cabi Developers and Brickell Central were fighting for control of the land.
In 2013, CBRE began marketing the site for sale. Because of the location and the rapid development in Brickell the land was expected to exceed $100 million for bids. The current site is approved for 1.3 million square feet, but under the 2010 Miami 21 zoning code the new developer is allowed to expand to 3.2 million square feet.
The land is still for sale and is currently listed under CBRE's available listings.
