Real Estate

Vice City Marina Lists for $37M Amid Brickell Boom

Vice City Marina in Miami's Brickell listed for $40M amid real estate boom and Citadel's transformative investment.

By Tal Alexander

4/3, 15:33 EDT

Key Takeaway

  • Vice City Marina in Brickell is on sale for $37M-$40M, highlighting the area's booming real estate market.
  • The sale includes leasehold rights to a 26-slip dock facility, expandable to 36 slips, amidst significant local development.
  • Nearby major developments include Ken Griffin's planned Citadel headquarters and Aimco’s $650M property listing.

Brickell's Booming Marina Market

The Vice City Marina, nestled in the heart of Miami's bustling Brickell neighborhood near the anticipated Citadel headquarters, has been listed for sale with a price tag ranging between $37 million and $40 million. This strategic move comes at a time when Brickell is witnessing a significant market boom, driven by an influx of out-of-state companies and high-profile investments, including billionaire Ken Griffin's record-setting purchase for his Citadel headquarters development site. The marina, boasting a 26-slip public dock that can be expanded to 36 slips, represents a unique investment opportunity in one of Miami's most coveted locations.

A Wave of High-Profile Real Estate Moves

The listing of Vice City Marina is not an isolated event but part of a broader trend of high-value real estate transactions in Brickell. Notably, real estate investment trust Aimco has also put its significant assets in the area on the market, seeking approximately $650 million. These moves coincide with Ken Griffin's ambitious plans for a $1 billion Citadel headquarters tower, which promises to reshape the Brickell skyline with one of Miami's tallest buildings. This flurry of activity underscores the neighborhood's attractiveness to developers and investors, betting big on its continued growth and transformation.

The Citadel Effect and Brickell's Transformation

Ken Griffin's decision to relocate Citadel's headquarters to Brickell has acted as a catalyst for the area's real estate market, signaling a vote of confidence in its potential. The planned Citadel tower, designed by the renowned Foster + Partners, is expected to include luxury hotel accommodations, further elevating Brickell's status as a premier business and lifestyle destination. This move, coupled with other significant investments in the area, such as the Pérez family's Baccarat Residences and the Toledano family's acquisition of the W Hotel, highlights the ongoing transformation of Brickell into a global business hub and luxury residential enclave.

Navigating the Future of Brickell's Real Estate

The current wave of high-profile real estate transactions in Brickell, including the sale of Vice City Marina, reflects a broader trend of urban revitalization and strategic investment in Miami's financial district. As developers and investors continue to bet on Brickell's growth, the neighborhood is poised to undergo further transformation, attracting a diverse mix of businesses, residents, and tourists. The strategic location of Vice City Marina, coupled with the ongoing development boom, presents a unique opportunity for investors looking to capitalize on Brickell's burgeoning market.