Prosper Group and Versluys Group partnered to acquire a development site along the Miami River near Brickell for $50 million as they prepare for a luxury residential project.
Lofty Brickell LLC, a partnership between Two Roads Development and Newgard Development Group, sold the 1-acre site at 66 S.W. 6th St., and 625 S.W. 1st Ave. to the developers. The site previously had the address 99 S.W. 7th St., but that will be changed. Miami-based Vaster provided a $30.5 million mortgage to the buyer.
This tower was approved by the city as part of the 2.2-acre One Brickell Riverfront development site. Newgard Group and Two Roads Development are building the first two towers, Lofty Brickell and Standard Residences, Brickell.
Now, Prosper Group and Versluys Group plan to move forward with the third tower there. However, it will be a separate project, not part of One Brickell Riverfront.
Miami-based Prosper Group, led by CEO Jay Roberts, announced its partnership with Belgium-based Versluys Group for this property in 2025. They said the $650 million project would have 181 luxury residential units in 60 stories.
“We are one step closer to bringing our vision for this development to fruition,” Roberts said. “With their deep local roots in Miami and exceptional agility, Vaster proved to be the ideal partner, ensuring a completely seamless execution for this transaction. Prosper Group and Versluys Group look forward to unveiling more about our project on one of the last waterfront sites in Brickell, Miami’s financial district and urban core.”
They have yet to announce prices or launch sales.
There’s been a surge in luxury condo development in Brickell as more wealthy people move to the neighborhood, which has many popular restaurants and some of the most expensive Class A office space in the United States.
“This closing marks a defining milestone for Versluys Group as we bring our European heritage of craftsmanship to Miami’s waterfront,” said Bart Versluys, CEO of Versluys Group. “For over a century, we have shaped the Belgian and Dutch coastline with architecture built for generations and we bring that same discipline to the Miami River.”
