New York Developer Chetrit Group, led by Joseph and Meyer Chetrit along with local manager Ari Pearl, have closed on the Finnegan’s River property in Brickell for $11.5 million.
The developer is planning a large mixed-use project called Miami Riverwalk. Another parcel was purchased in June for $4.6 million, but more land remains to be assembled
Miami Riverwalk will include four 60-story (650-foot) buildings with 1,449 residential units, along with a 300 room hotel, all designed by architect Kobi Karp.
Chetrit is also considering funding colored up-lighting of adjacent I-95 and 2nd Ave bridges over the Miami River. Doing so could allow for density increases granted for public benefit contributions.