Russell Galbut Reveals Mixed-Use Redo For Old Miami Courthouse

GFO Investments this week unveiled a plan to redevelop the historic Miami-Dade County Courthouse as a mixed-use facility.

Miami-Dade County last year sought bids for the property, and GFO Investments was the only applicant for the Downtown Miami building, which opened in 1928 at 73 West Flagler Street. GFO’s plans call for restoring the historic building’s facade and interior and redeveloping the building to include housing, hospitality, office and retail uses. 

A mixed-use residential tower on the north side of the parcel will include a blend of condominiums and rental apartments, and feature a 20-foot-high lobby with views of the restored courthouse. 

“This building isn’t just a structure – it symbolizes Miami’s journey from a small coastal town to a global city,” Russell Galbut, managing principal and c-founder of Miami-based GFO Investments, said in a statement.

In 2021, following the deadly collapse of the Champlain Towers South condo building in Surfside, Fla., county officials evacuated the courthouse building after an inspection found an “excessively corroded” column on the 25th floor and other defects, the Miami Herald reported. 

When the county put the property on the market last year, it said bids would start at $52.3 million.

In 1930, famed mobster Al Capone faced a perjury trial at the 27-story property. But in recent years, the building, which sits on 1.6 acres, has shown signs of serious aging.

Because the building is landmarked, listed in the National Register of Historic Places since 1989, the new owner will have to abide by regulations set forth by the Miami-Dade County Historic Preservation Board and the Dade County Interior Designation 2020 if it wants to make substantial changes. 

Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.