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Buy Now, Build Later

A parking garage on a one acre lot, at 1010 Brickell Avenue, was just picked up for $11.5 million by real estate firm Key International. They want to build a combo residential and hotel tower on it but say "We're not in a hurry. For now we just want a site in the area." Um, ok. Building activity in Brickell since the rebound has so far concentrated a few blocks west of Brickell Avenue, with some movement a block east of it as well, but none on the Avenue, the central spine of the district, itself. [Miami Today]