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Brickell's Biggest Hole Sells For $74.74 Million

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Ever wondered "Hey, what's that big, abandoned hole in Brickell?" or "Man, when is somebody going to do something with that horrible looking hole in Brickell?"? The former Capital at Brickell site was planned to be a condo site with two towers during the last boom by Cabi Developers, stalled, rebooted during this boom as Capital Brickell Place, a multilevel pile of big box stores falsely rumored to include Miami's first Trader Joe's, and now it's being purchased by a subsidiary of Chinese construction behemoth China City Construction and NY based America Da Tang Group, who haven't said what they're going with it yet.

Two interesting little things to note though: The Chinese came. After months of rumors that Chinese investors were looking at Miami in a big way, here they are. Oh, and the number 74 is considered deeply unlucky to some Chinese, but didn't dissuade the buyers who batted it away as "superstition".
· Chinese enter Brickell picture, buy former Cabi site [DBR]
· Capital Brickell Place coverage [Curbed Miami]