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Old Posted Nov 7, 2008, 8:24 AM
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bobdreamz bobdreamz is offline
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Join Date: Mar 2002
Location: Miami/Orlando, FL.
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MIAMI | 1401 Brickell Avenue | HEIGHT PENDING | 50 FLOORS

Address : 1401 Brickell Avenue , Miami, Florida
Tenant : Banco Santander of Spain
Current Floors: 14
Proposed Floors: 50

One of the most recent examples of the heft shown by Spanish investors — and the strength of Spain-based financial institutions — was the May sale of the 1401 Brickell office building. The real estate arm of Banco Santander Central Hispano paid $114 million for the 14-story tower the bank currently anchors. The $606 per square foot purchase price set a South Florida office building record for price per square foot.

Santander Global Property plans to raze the building to construct a 50-story tower on the 2.02-acre site. The property holds development rights for more than 800,000 square feet of office space.

Helping push the 1401 Brickell transaction along was the relationship between Banco Santander and the seller, Testa Inmuebles en Renta, a subsidiary of Spanish real estate giant Sacyr Vallehermoso Group. Testa had bought the building for $61 million in July 2006 at a then-record price per square foot of about $325 per square foot.

current building :

proposed tower in green glass:

from the bay :

no height has been given for this proposal but it will be an office tower that will sit between the Four Seasons & the Espirto Santos Bank tower.

thanks to brickell & milegeman for the info & pics.
Miami : 53 Skyscrapers over 500+ ft. | 152 + meters Completed | 5 U/C !