FIRST ON PROFILE: OKO Group and Cain International Top Off Bayfront Una Residences in Brickell at 47 Stories

Construction of Brickell’s first waterfront residential development in over a decade, Una Residences, has completed vertical development and “topped off” at 47 stories. The ultra-luxury project, situated at 175 NE 25th Road within Miami’s picturesque and private South Brickell enclave, is being developed by OKO Group and Cain International. Construction is expected to complete in early 2025.

Designed by world-renowned architects Adrian Smith + Gordon Gill (AS+GG), Una Residences comprises 135 spacious condominiums with unobstructed views of the Atlantic Ocean, Key Biscayne, and the Downtown Miami skyline.

The construction milestone comes amidst South Florida’s recent business and wealth migration trend which has driven steady pre-sales to the tower, now nearly sold-out. In 2022, Una’s two upper tri-level penthouses sold for $17.75 million each – a price point which still stands today as the highest recorded condominium sale in Miami’s Brickell submarket. A handful of residences remain available for purchase priced from $4.4 million to $10 million.

“This marks a pivotal moment for our team, as we introduce a one-of-a-kind building to the Brickell City skyline. With its yacht-inspired aesthetics, world-class amenities, and a prime waterfront location, Una Residences offers a luxury living experience unique to the South Florida market. This exceptional combination has enabled the project to command market-leading premiums in Miami and set a new standard for luxury residences in Brickell,” said developers Vlad Doronin, Chairman and CEO of OKO Group, and Jonathan Goldstein, CEO of Cain International, in a joint statement.

Residences range from two- to five-bedroom units measuring between 1,100 to 4,786 square feet. Una’s two ultra-exclusive upper tri-level penthouses measure approximately 7,089 square feet with an additional 2,871 square feet of outdoor terrace and rooftop space, with each residence boasting two private pools, a summer kitchen, sauna, and steam room.

Amenities at the boutique-style tower will complement Miami’s outdoor lifestyle, including a private marina, three swimming pools, a children’s splash-pad area and playroom, a movie theater, a resort-inspired spa and steam room, a state-of-the-art fitness center featuring yoga and personal training facilities, onsite dining, and more. Una’s amenities will also extend beyond the property, as residents will receive exclusive membership to the Grand Bay Club on the beachfront of Miami’s Key Biscayne.

Una Residences is part of an extensive portfolio of best-in-class offerings being delivered across South Florida by OKO Group and Cain International. The portfolio, encompassing both luxury residential and commercial spaces, includes Missoni Baia, a newly delivered luxury condominium in Miami’s Edgewater neighborhood; 830 Brickell, a class A-plus office tower nearing completion in Miami’s Brickell Financial District; and One River, a luxury multifamily tower under construction in Downtown Fort Lauderdale.

Cain International and OKO Group’s partnership further extends to One Beverly Hills, a 17.5-acre mixed-use urban destination master planned by Lord Norman Foster. The development will mark the introduction of Aman’s inaugural urban resort to the West Coast of North America, featuring a limited number of Aman residences, an Aman Hotel, and an exclusive Aman Club.

Separately, OKO Group, the U.S. development firm founded by Aman’s CEO and Chairman Vlad Doronin, is also developing Aman Miami Beach, which encompasses a restored Art Deco hotel and a newly constructed Kengo Kuma-designed Aman-branded residential tower, now under construction along the oceanfront.

Images via GoldenDusk Photography

Tri-Level Penthouse at Una Residences Sets Brickell Record With $17.75 Million Sale As Vertical Construction Passes Fifth Level

An upper tri-level penthouse atop OKO Group and Cain International’s Una Residences in Miami has sold for $17.75 million, a record sales price for the City’s Brickell submarket. The 7,084-square-foot residence, sold at $2,506 per square foot, also stands as the highest price per square foot deal in the City of Miami. Una's upper penthouse residence was purchased by a domestic buyer seeking a secondary home in Miami amidst South Florida’s recent business and wealth migration trend – which has driven steady sales to the tower, which is currently over 80% sold. Situated at 175 NE 25th Road within Miami’s picturesque and private South Brickell enclave, the 47-story development will be the first waterfront residential tower to deliver in the Brickell Financial District in over a decade upon its completion in 2024.

Designed by world-renowned architects Adrian Smith + Gordon Gill (AS+GG), Una Residences will comprise 135 spacious condominiums with unobstructed views of the Atlantic Ocean, Biscayne Bay, and the Downtown Miami skyline. Vertical construction is currently underway, with crews having recently surpassed the tower’s fifth level and now constructing residence levels.

“The unprecedented sales momentum at Una Residences is representative of the solid dynamics backing Miami’s luxury real estate market and reaffirms our belief in the region as an increasingly important player in the U.S. and on the global stage,” said Vlad Doronin, Chairman and CEO of OKO Group, and Jonathan Goldstein, CEO of Cain International. “We continue to see strong levels of domestic and international interest as market leaders establish a base in the city and anticipate this trend to progress as Miami continues its growth as a world-leading hub for businesses, hospitality, and residential living."

Una’s three-story penthouse – located on levels 45 through 47 of the building – measures approximately 7,084 square feet of interior space, with an additional 2,871 square feet of outdoor terrace and rooftop space. The expansive unit includes six bedrooms, seven bathrooms, and features a media room, study, and private internal elevator accessing all three floors of the residence. Additionally, the triplex penthouse features two private rooftop pools – a lap pool and plunge pool – with a summer kitchen, sauna and steam room.

The penthouse will be delivered fully finished and include over 12-foot-high ceilings, private elevator entry, premium finishes and fixtures, and panoramic 180-degree vistas of the expansive Brickell waterfront.

Amenities at the boutique tower will complement and enhance Miami’s desirable outdoor lifestyle, including a private marina, three swimming pools, a children’s splash-pad area and playroom, a movie theater, a resort-inspired spa and steam room, a state-of-the-art fitness center featuring yoga and personal training facilities, onsite dining, and more. Una’s amenities will also extend beyond the property, as residents will receive exclusive membership to the Grand Bay Club on the beachfront of Miami’s Key Biscayne.

Una Residences is OKO Group and Cain International’s latest residential tower in South Florida. The successful joint venture between the two companies has another three developments under construction, including Missoni Baia, a luxury condominium in Edgewater; 830 Brickell, a class A-plus office tower in the Brickell Financial District; and One River, a multifamily tower in Downtown Fort Lauderdale.

OKO Group and CAIN International Lock Down $128.3 Million Construction Loan For Una Residences

OKO Group and Cain International have secured $128.3 million in construction financing for Una Residences. The senior debt, which was provided by Bank OZK, will fund the ongoing development of the 47-story luxury condo tower, which broke ground in May 2020 and has over $75 million in sales over the past four months.

The Walker & Dunlop team led by Senior Managing Directors & Co-Heads of New York Capital Markets Keith Kurland, Aaron Appel, and Adam Schwartz along with Managing Director Michael Diaz and Director Sean Bastian represented the developers in the transaction. Weil Gotshal & Manges served as counsel for the sponsor/developer, while King & Spaulding served as counsel for Bank OZK.

Una Residences sits on one of the last developable parcels of waterfront land in Brickell in the South Brickell enclave at 174 SE 25th Road and will become the first waterfront residential tower to deliver in the neighborhood in over a decade upon its completion in 2023. The tower is being developed by a partnership between OKO Group, the luxury development group helmed by international real estate mogul Vladislav Doronin, and Cain International, a privately held investment firm with over $6.3 billion in real estate equity, debt, and leisure-focused investments.

“Miami’s increasing global appeal is drawing families to live and businesses to invest in high quality real estate, particularly rare and exclusive offerings such as Una Residences; one of the last opportunities to buy a waterfront property in one of Miami’s most desirable neighborhoods,” said Vladislav Doronin, Chairman and CEO of OKO Group. “We are seeing this trend of moving to Miami accelerate at an unprecedented rate, attracted by the many benefits including its sunny weather, quality of life, status as a global destination and its tax incentives. As construction progresses on site at Una Residences, we anticipate a beneficial and successful relationship with all parties involved in this project.”

Una Residences was designed by Adrian Smith + Gordon Gill (AS+GG) and the tower will offer 135 spacious two-to-five bedroom condominiums with unobstructed views of the Atlantic Ocean, Biscayne Bay, and city skyline. Residences are priced from $2 million to $7.4 million, with two ultra-exclusive penthouses priced up to $21.6 million.

"We firmly believe the Miami market is well-positioned for future growth as a global gateway city, with continued demand for new residential property coming from both foreign and domestic buyers. Closing this financing with Bank OZK is a significant milestone for Una Residences and for the broader Brickell residential market," said Jonathan Goldstein, CEO of Cain International. "With its unique position overlooking Biscayne Bay, close proximity to Key Biscayne, Brickell and Coconut Grove, and access to incredible lifestyle amenities, Una Residences is truly one-of-a-kind and we look forward to advancing towards completion with our partners."

Amenities include three swimming pools, a children’s splash-pad area and playroom, a movie theater, an Aman Resort-inspired spa and steam room, a state-of-the-art fitness center featuring yoga and personal training facilities, onsite dining, and more. Una’s amenities will also extend beyond the property, as residents will receive exclusive membership access to the Grand Bay Club on the beachfront of Miami’s Key Biscayne.

“The fundamentals of the Una Residences project met the high standards Bank OZK consistently seeks in our credits – marquee real estate, strong market fundamentals and top-tier sponsorship,” stated Greg Newman, Managing Director of Originations for Bank OZK’s Real Estate Specialties Group. “OKO Group and Cain International are developing a best-in-class option in the Miami market, with amenities and an unrivaled setting that delivers an exceptional quality of life to residents. We appreciate the opportunity to participate in this project as the sole senior secured lender and look forward to a very successful execution.”

For more information about Una Residences, private showings or purchasing/ leasing information please fill out the form below:

OKO Group and Cain International Complete $74 Million in Condo Sales Since the Start of the New Year at Miami’s Missoni Baia and Una Residences

Miami’s newest luxury condominium towers are tapping into a surge of domestic buyers fueled by the city’s desirable quality of life, lower business and living expenses, and Florida’s tax-friendly policies. At Missoni Baia and Una Residences, two new luxury towers under development by OKO Group and Cain International in Miami, approximately $74 million in sales have been completed in the last 60 days. The vast majority of units sold have been purchased by domestic buyers, reflecting the influx of new residents pouring into South Florida from cold weather and tax-burdened states.

This recent surge in sales from domestic buyers is the latest example of how business and wealth migration is fueling the South Florida condo market. The pandemic, coupled with people and companies looking to relocate from major U.S. cities – specifically in the Northeast and Midwest regions – to tax-friendly states with reduced business and living expenses, is enticing out-of-state residents to make the move to South Florida, with this trend expected to continue throughout 2021.

According to a recent report by brokerage ISG World, domestic buyers have taken over as the leading source of new condo purchases in Miami and Fort Lauderdale during the pandemic, with only 3.9 percent of recently completed units remaining unsold in December 2020. The latest statistics support that fierce competition and ballooning prices for single-family homes in South Florida are driving buyers toward condominiums instead.

“We’ve just had our best month of sales, and we’re seeing demand for condos intensify as the inventory of single-family homes continues to dwindle and Miami’s newest residents put emphasis on low maintenance, high-touch service and amenities that only a condo can offer,” said Vanessa Grout, CEO of OKO Real Estate, the sales and marketing arm of OKO Group. “Now that remote work has become so prolific and many people can work from wherever they choose, we’re seeing buyers from cities like New York, Chicago and San Francisco making the move to South Florida. They’re attracted by our lifestyle, our diverse culture and business community, and an overall quality of life.”

Now under construction, Missoni Baia and Una Residences are being developed by a partnership between OKO Group, one of South Florida’s most active and successful luxury development firms helmed by international real estate mogul Vladislav Doronin, and Cain International, a privately held investment firm with over $6.3 billion in real estate equity, debt and leisure business investments led by Jonathan Goldstein.

“This accelerated sales momentum reaffirms our strong belief in Miami's innovation, culture and lifestyle and its future as a global gateway city. We are extremely pleased with the progress across our Miami portfolio and look forward to delivering two world-class developments to the city’s residential market and welcoming their residents in the near future.” said Jonathan Goldstein, CEO of Cain International.

Designed by Hani Rashid of Asymptote Architecture, Missoni Baia is a 57-story luxury residential tower now rising on Biscayne Bay in Miami’s Edgewater neighborhood. As the Missoni brand’s first-ever residential project, the Italian fashion house is incorporating its trademark colorful design palette and Missoni Home furniture collection into the tower’s vibrant interiors, including all public spaces and amenity areas. The waterfront tower’s 249 residences range from one- to five-bedroom layouts measuring between 776 and 3,788 square feet in size. Units are priced from approximately $950,000 to upwards of $9 million. Construction of the 649-foot-tall tower is well underway and is expected to be completed in late 2021.

The 47-story Una Residences tower, designed by internationally renowned Adrian Smith + Gordon Gill Architecture (AS+GG), is situated on Miami’s waterfront in the city’s picturesque and private South Brickell neighborhood. Private elevators open up into the glass tower’s 135 spacious residences, which range from two- to five-bedrooms and measure between 1,100 to 4,786 square feet in size – with all units boasting unobstructed views of the Atlantic Ocean, Biscayne Bay and the Miami city skyline. Units are priced from $2.2 million to $7.4 million, with two ultra-exclusive penthouses with private pools priced up to $21.6 million. Construction of the 579-foot-tall tower is underway, with completion expected in 2023.

Additionally, OKO Group and Cain International are developing 830 Brickell, a class A-plus office tower also designed by Adrian Smith + Gordon Gill Architecture, currently under construction in the heart of Brickell’s Financial District. OKO Group’s plans to bring an Aman Hotel & Residences to Miami Beach were also recently approved by the City of Miami Beach. Construction of the ultra-luxury development is expected to start this year.

Cain International was recently appointed to lead the strategic reposition of the famed Delano hotel in Miami’s South Beach, adding to the firms growing hospitality footprint across global gateway cities. Cain’s additional US hospitality investment assets include the Waldorf Astoria Beverly Hills, the Beverly Hilton Hotel, and the Raffles Hotel and Residences Boston Back Bay. The firm has also partnered with OKO Group on the financing of the Aman Hotel & Residences in New York City’s historic Crown Building.

For more information about Una Residences or Missoni Baia, private showings or purchasing/ leasing information please fill out the form below:

The Development Of Miami's Most Expensive And Deepest Underground Parking Garage Is Underway

Una Residences condominium will soon have Miami’s deepest underground parking garage with construction underway. The garage will reach nearly 50 feet and three stories below sea level and will become the most expensive underground parking garage in Miami costing developers $25 million to build. The subterranean parking garage will be 100,000 sq.ft. and house 236 cars for Una Residences, located on Biscayne Bay waterfront in Brickell and estimated to be complete in 2023. 

Una Residences is developed by OKO Group and Cain International with design by architects Adrian Smith + Gordon Gill. The luxury condominium will be nearly 600 feet tall once the project is complete. The underground parking garage will be one of a kind and hidden underground to maximize the condo’s waterfront views without any obstruction. This approach is very expensive and contracts the usual development strategy in South Florida that typically features a pool deck on top of several levels of parking to hide the garage. 

“OKO Group has extensive experience with subterranean construction, with our firm’s Capital City mixed-use development in Moscow encompassing a six-level garage for over 2,000 vehicles built 72 feet deep underground adjacent to the Moscow River,” said Ahmet Oktay Cini, Chief Operating Officer of OKO Group. “When conceptualizing the design for Una Residences in Miami, we envisioned a similar urban-style, efficient tower that would maximize as much space as possible for the use of residents and showcase the site’s waterfront views. The result was a modern condo tower without a parking podium, meaning more square footage for luxury amenities and residences.”

Civic Construction is the general contractor of the building who has taken on the task to build an underground garage that does not flood. They have developed a deep-soil-mixing construction process that will form a base of the garage underground to avoid flooding. 

“A below-ground garage of this caliber costs triple the amount of a typical parking garage. This kind of major investment in underground construction has never been seen before in Miami,” said William Real, President of Civic Construction Company. “The developers of Una Residences are sparing no expense when it comes to top-notch construction quality and efficient design, which will ultimately deliver a superior product for residents.”

The base of the garage is slated to be complete in early 2021, from there ground-level vertical construction will commence. The Una Residence tower is estimated to be complete in 2023. Residences are located at 175 SE 25th Road and prices start at $2 million up to $21.6 million for a penthouse. The luxury residence will rise up 57 stories and not only house Miami’s deepest underground parking, but offer residents beautiful views of Biscayne Bay and the Miami skyline. 

OKO Group's Vladislav Doronin Buys Fort Lauderdale Assemblage for $63 Million

A land trust controlled by OKO Group’s Vladislav Doronin, a billionaire real estate developer from Russia who is now has headquarters in New York and Miami, has acquired a 6.7 acre assemblage in Fort Lauderdale for $63 million. The acquisition was financed with a $33 million loan from Michael Dell’s MSD Partners. The assemblage is located just south of the New River and Las Olas Boulevard and includes 3 full blocks, 27 parcels, one of which includes the site of Dev Motwani’s 629 Residences, a 34-story, 251-unit apartment building at 629 SE 5th Ave. OKO Group is reportedly planning a pedestrian-oriented mixed-use development.

OKO Group has been on the move in South Florida. The news of the assemblage acquisition comes just one week after OKO Group announced that Vanessa Grout was appointed CEO of the newly formed OKO Real Estate which would oversee the OKO Group’s sales and marketing. OKO Group also recently broke ground on Una Residences in Brickell and announced the Aman Hotel & Residence in Miami Beach’s Faena District. Construction continues on the 830 Brickell office tower and Missoni Baia luxury condo building in Edgewater.

Vanessa Grout Named CEO of OKO Group’s New Venture

Vanessa Grout has been named the CEO of OKO Real Estate, a new venture to expand the sales and marketing capabilities of Vladislav Doronin’s OKO Group. OKO Group currently has four projects under construction in Miami, including Una Residences and Missoni Baia, and another project under construction in Manhattan. Vanessa Grout has worked in the real estate sector for 16 years, most recently as President of Ugo Colombo’s CMC Real Estate, where she ran sales and marketing for Brickell Flatiron. With the launch of this new brokerage firm, OKO Group will continue to grow throughout South Florida, New York and in other major U.S. cities. 

“We are pleased to welcome Vanessa Grout to OKO Group and to expand our business. I have known Vanessa for many years, she has been a friend and a valued supporter,” said Vladislav Doronin, Chairman and CEO of OKO Group. “We are optimistic on the growth of the real estate sector in Miami which is why we have decided to bring Vanessa on board and to expand our offering. Buyers are choosing Miami to invest in their future; Miami is a good real estate investment as well as an investment in the quality of their future life.” 

Renowned for working with internationally acclaimed architects including Pritzker Prize–winning architect Zaha Hadid, real estate magnate Vladislav Doronin has developed 71 buildings and 75 million SF of world-class residential and commercial property internationally. 

“I am thrilled to be joining this expert team and to work alongside Vladislav Doronin to help expand OKO Group’s existing offering with the creation of OKO Real Estate,” said Vanessa Grout, CEO of OKO Real Estate. “This move follows the completion and successfully selling out Brickell Flatiron in Downtown Miami, the most recent project I oversaw.”

In Miami’s Edgewater neighborhood, construction on Missoni Baia surpassed the tenth floor and saw the recent sale of one of its two penthouses for $10 million. Una Residences recently broke ground and saw the commencement of construction on the luxury residential building’s foundation on Miami’s waterfront. OKO Group continued vertical construction on 830 Brickell, a 57-story highly-amenitized office skyscraper designed by one of the world’s leading architecture firms, Adrian Smith + Gordon Gill Architecture (AS+GG) in the heart of Miami’s financial district. OKO Group has closed on the development loan for Aman Miami which will bring an Aman hotel and Aman-branded residences to Miami Beach’s Faena District, on the site of the former Versailles Hotel at 3425 Collins Ave. Construction is also underway in New York where OKO Group is transforming The Crown Building, located at 5th Avenue and 57th Street, into Aman New York.

Demolition Clears The Way For OKO Group And Cain International's Una Residences To Break Ground

An 11-story former condo building at 175 SE 25th Road, which was built in 1971, has been demolished, clearing the way for the highly-anticipated condo tower Una Residences, which is being developed by OKO Group, led by Vladislav Doronin, and Cain International. Demotion was completed April 25 and construction commenced immediately after.

Doronin began to assemble the site in 2016 by buying out current residents at nearly double the expected market value, roughly $48 million, before terminating the condo.

The nautically-inspired Una Residences was approved by Miami’s Urban Development Review Board in September 2018. The building will rise 47-stories and will feature 135 waterfront condos starting at $942,000. Both of Una's exterior and interior design are being overseen by Adrian Smith + Gordon Gill Architecture (AS+GG), the internationally acclaimed architects known for designing extraordinary skyscrapers like Saudi Arabia’s Jeddah Tower. Residences will offer private elevator entry, 10’8” ceilings, chef’s kitchens with Gaggenau appliances, master suites with his and hers wings, laundry rooms with washers and dryers, and expansive 180 degree terraces featuring seamless floor-to-ceiling doors with “effortless lift and glide” glass balcony doors, glass balcony railings, and panoramic views of Key Biscayne, Downtown, Miami Beach, and Coconut Grove.

Amenities include a private marina, three pools, a state-of-the-art fitness center with yoga and personal training areas, a spa featuring indoor and outdoor private massage treatment rooms, three levels of subterranean parking, a cinema, and 24-hour concierge. Una's location on a waterfront urban park setting will be further enhanced with a private bayside garden by Enzo Enea’s award-winning landscape architectural firm Enea Garden Design, Inc. Residents will also have access to the Grand Bay Club on Key Biscayne.

Sales for Una are being handled exclusively by Fortune International Realty. The project was initially expected to be completed by 2021.

For more information about Una Residences, private showings or purchasing/ leasing information please fill out the form below:

Una Residences Given Green Light

OKO Group’s latest development, the nautically-inspired Una Residences, has now been approved by Miami’s Urban Development Review Board. This key step brings the 47-story condo building, proposed for 175 SE 25th Road, a little closer to inception at the crossroads of Coconut Grove and Brickell.

The building will feature 135 waterfront condos starting at $942,000, an underground parking garage, and public baywalk that connects to an adjoining park. The review board granted a request to allow ingress for vehicle entries at the loading docks and service area, which will pave the way for the demolition of the current structure.

This process of condo termination and redevelopment has been fueled by CEO of OKO Group, Vladislav Doronin’s confidence in the site, which he began to assemble back in 2016 by buying out current residents at nearly double the expected market value. “There has been no new construction here for the last 10 years,” says Doronin. “We were lucky to manage to purchase this site. And for the near-future, no one else is going to build here. We won’t have any competitors in South Brickell.”

This developer strategy of parcel identification and repurposing can be expected to continue in the upcoming real estate cycle as waterfront property becomes more scarce in Miami. Sales for Una, which are being handled exclusively by Fortune International Realty, went live back in March. Cash buyers have been the cornerstone to Una’s pre-sale success, most coming from overseas, since the building has not yet secured any form of traditional financing.

The project is expected to be completed by 2021.

Article by: Katya Demina