Prosper Group and Versluys Group Close On Brickell Waterfront Land Assemblage For $50 Million

A joint venture between Miami-based Prosper Group and Belgium-based Versluys Group has completed the $50 million acquisition of a three-parcel waterfront assemblage in Brickell, clearing another major hurdle for a planned ultra-luxury residential development along the Miami River.

Prosper Group is led by CEO Jay Roberts, while Versluys Group is headed by CEO Bart Versluys. Miami-based Vaster provided a $30.5 million acquisition loan for the transaction.

The roughly one-acre assemblage is expected to become the site of a $650 million luxury residential tower, bringing a new large-scale development to one of the remaining waterfront development opportunities in Brickell.

One-Acre Miami River Assemblage Secured

The newly acquired property encompasses parcels at 66 SW 6th Street and 625 SW 1st Avenue, along with a riverfront parcel that was formerly part of 99 SW 7th Street and has not yet been assigned its own address.

The site was purchased off-market from Two Roads Development and Newgard Development Group.

The closing follows the development partnership previously announced by Prosper Group and Versluys Group for a planned 60-story residential tower. The project is expected to feature 181 residences and more than 300 feet of direct frontage along the Miami River.

Buyers interested in following similar waterfront opportunities can explore Brickell luxury condos and Miami waterfront real estate.

A $650 Million Ultra-Luxury Tower Planned for Brickell

The proposed development represents a significant investment in the continued transformation of Brickell's waterfront. Rising approximately 60 stories, the planned tower is expected to combine high-end residential living with direct access to the Miami River.

The project will bring together the development experience of Prosper Group with the European luxury expertise of Versluys Group. The partnership is positioning the project around a combination of Miami's contemporary luxury lifestyle and European craftsmanship.

For Prosper Group, securing the land represents an important step toward moving the project from planning into the next stages of development.

European Design Heritage Meets Miami Waterfront Living

Versluys Group brings a long history of luxury development in Belgium and the Netherlands to the partnership. The company has built a reputation for high-end coastal properties, with its Miami venture marking an expansion of that European development philosophy into South Florida.

Bart Versluys described the acquisition as an important milestone for the company, emphasizing the intention to bring its European approach to craftsmanship and longevity to the Miami River.

The partnership is expected to create residences that combine the scale and ambition associated with Miami's luxury market with a more refined European design sensibility.

Direct Access to Brickell's Urban Core

The development's waterfront location places future residents within close proximity to the heart of Brickell, one of Miami's most established financial and lifestyle districts.

The site is positioned near Brickell City Centre, giving residents convenient access to a broad collection of restaurants, luxury retailers, entertainment venues, and services.

Its Miami River frontage also provides a direct connection to Biscayne Bay and the wider South Florida boating network, adding a waterfront lifestyle component that is increasingly sought after by luxury buyers.

The property is also strategically located near major transportation routes, including Interstate 95, Miami International Airport, and Brightline MiamiCentral.

A Rare Waterfront Development Opportunity

The acquisition is particularly notable because large, contiguous waterfront sites in Brickell have become increasingly difficult to assemble. With approximately one acre of land and more than 300 feet of planned river frontage, the property provides the development team with a substantial footprint in Miami's urban core.

The project is expected to further contribute to the evolution of the Miami River corridor, where new residential, hospitality, dining, and mixed-use developments continue to reshape the waterfront.

Market observers can follow broader Miami real estate market trends as Brickell continues to attract significant domestic and international investment.

What the $50 Million Closing Means for the Project

The completed land acquisition removes one of the key barriers to advancing the planned development. With the site now secured, Prosper Group and Versluys Group can continue progressing toward the next stages of the $650 million project.

The proposed 181-residence tower would add another ultra-luxury offering to Brickell while introducing a distinct riverfront setting. Its combination of scale, direct water access, and proximity to the neighborhood's commercial and cultural destinations could position the development as a notable addition to Miami's luxury residential pipeline.

FAQs

1.     What did Prosper Group and Versluys Group acquire?
The joint venture acquired a roughly one-acre, three-parcel waterfront assemblage in Brickell for $50 million.

2.     How much will the planned Brickell development cost?
The proposed ultra-luxury residential project is expected to represent a $650 million development.

3.     Where is the new luxury tower planned?
The project will rise on the Miami River in Brickell, incorporating parcels at 66 SW 6th Street and 625 SW 1st Avenue, along with an additional riverfront parcel.

4.     How many residences are planned?
The proposed 60-story tower is expected to include 181 luxury residences.

5.     How much waterfront frontage will the development have?
The project is planned with more than 300 feet of direct Miami River frontage.

6.     Who are the developers behind the project?
The development is a partnership between Miami-based Prosper Group and Belgium-based Versluys Group.

7.     Who provided financing for the land acquisition?
Vaster provided a $30.5 million acquisition loan for the $50 million transaction.

8.     What makes the location attractive to luxury buyers? 
The property offers direct Miami River access while remaining close to Brickell City Centre, Biscayne Bay, I-95, Miami International Airport, and Brightline.