Developer Breaks Agreement To Buy Miamis Historic Brickell Park
By Paola Iuspa
Promised buyers of downtown Miami’s Brickell Park have walked away from an agreement to purchase the 2.4-acre site where they planned to build a high-rise.
City Attorney Alex Vilarello said Monday evening the deal was off.
Mr. Vilarello said the buyer, 501 Brickell Partners, sent a note via facsimile telling him to terminate the pending contract to buy the park for $18 million.
Pedro Martin – an attorney with Greenberg Traurig and a registered agent with the corporation, according to state records – wrote in the note to Mr. Vilarello, "the property site did not meet our client’s development needs."
Tamara Fisher of Palm Beach is registered as manager of the corporation, according to state records filed on April 23.
Edie Laquer of Laquer Corporate Realty Group Inc. and the buyer’s agent said the park had "some developmental issues that have created a problem" to go ahead with the project.
She said a "confidentiality agreement" she signed with her client does not allow her to go into details about the problems.
"After extensive due diligence regarding this property," she said, "the buyer decided to terminate the pending contract immediately."
Ms. Laquer said she was not interested in looking for other buyers for the Brickell Avenue site.
Three weeks ago, Save Brickell Park Coalition, formed by nonprofit groups opposing the sale, had hired attorney John Shubin to start legal actions against the City of Miami over the deal.
The coalition argued the land, donated to Miami in 1925 by the pioneering Brickell family, has demonstrable archeological value and could be protected by federal and state law.
A 1999 city resolution aimed at ending a 13-year dispute over the park allows a sale if proceeds are split equally between Miami and the Brickell family.