The Demolition Of 1809 Brickell Avenue In Photos, As St. Regis Miami Residences Receives $527M Construction Financing

September 28, 2024 by Michael Light

Categories: Luxury Condos, New Construction

Rendering of St Regis Residences Miami Brickell at Dusk

It is a beautiful day in Brickell, especially for the future owners of St. Regis Miami Residences in Brickell.

The existing tower at 1809 Brickell Avenue has been taken down safely and efficiently, making way for the construction of the new ultra-luxury residential tower. This is all happening as the developer, Related Group and Integra Investments, have announced their receipt of a landmark $527 million in construction financing.

The Financing Team of St. Regis Miami Residences

According to BNN Bloomberg, the new construction loan was provided by Tyko Capital, backed by Elliott Investment Management. They have had previous success in lending with a $1.2B investment in two towers on New York’s High Line. Additionally, they partnered with OKO Group and Cain International with a $565 million financing package to build their 830 Brickell office tower, which attracted market-changing firms including Citadel, Microsoft and private equity firm Thoma Bravo.

“This achievement underscores investors’ trust in Miami’s thriving residential market and, notably, in the distinguished St. Regis brand,” Nick Perez, the president of Related Group’s condominium division, said in a statement.

Rendering of St Regis Residences Miami Brickell Entrance

The Demolition Of 1809 Brickell Avenue In Photos

To make way for the new construction, naturally the 1966-built low-income waterfront housing development needed to be removed. It stood 17 stories and spanned 211,121 square feet of space for 272 housing units, according to the permit application.

1809 Brickell Avenue | Before

The first permits were filed in December 2021. Now that the building had been prepped for demolition, the Related Group and Integra Group decided to undergo the wet demolition method. In this form, the building is gradually scraped down with cranes and buckets, having the dust sprayed in order to maintain the comfort of those nearby.

We were able to obtain these photos from the Instagram account of The BG Group, the general contractor who completed the demolition. They have specialized in demolition, asbestos abatement, excavation and recycling since 2003 according to their website.

1809 Brickell Avenue | Demolition Wet Demolition Method

1809 Brickell Avenue Demolition | Crane Working

1809 Brickell Avenue Demolition | Crane Height

1809 Brickell Avenue Demolition | Nearing Completion

1809 Brickell Avenue Demolition | Cleaning Up For St. Regis Miami Residences

Moving Forward

Now that the path is cleared physically and the construction finances are in place, St. Regis Residences, Miami in Brickell should progress quickly. Historically, it has sailed through the permitting board and sales have been brisk.

As of today, the tower is over 60% sold with remaining purchase opportunities being offered for between beginning at $3.7 million up to $45 million. Layouts of the 152 residences range from two to six bedrooms. Two of the residences are even rare stand-alone villas, paying homage to the neighborhood’s history of luxurious estate-style living.

Rendering of St Regis Residences Miami Brickell Bayfront Villa Patio

As this is a St. Regis Residences property, the owners will enjoy all of the services of a St. Regis Hotel, yet without the inconvenience of an onsite hotel. All residences are strictly residential with the exception of the guest suites, that are for use by the guests of owners only.

We very much look forward to seeing this new addition to the skyline in Wall Street South’s skyline.

If you are interested in a private presentation of the St. Regis Residences Miami Brickell, including specific layouts and prices, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.