Prosper and Versluys Close $50M Land Deal for $650M Miami Condo Tower
By Julia Echikson August 5, 2026 6:05 pm
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Prosper Group and Versluys Group have paid $50 million for a development site in Miami’s Brickell district, where they plan to build a $650 million condo tower, the joint venture announced.
The 1-acre assemblage includes three parcels: one along the Miami River, with more than 300 feet of water frontage, as well as two adjacent inland spots at 66 Southwest Sixth Street and 625 Southwest First Avenue, near the Brickell City Center mixed-use complex.
The joint venture plans to develop a 60-story waterfront high-rise with 181 condos. Vaster provided a $30.5 million loan for the acquisition, which has been under contract for at least eight months.
The sellers, developers Two Roads Development and Newgard Development Group, are currently building another luxury complex on a neighboring lot at 99 Southwest Seventh Street.
Last year, the joint venture nabbed a $513 million financing package for the construction of two condo towers: a 46-story, 422-unit building branded after the Standard Hotel and the 44-stories, 362-unit Lofty Brickell building.
The Brickell project marks the first U.S. endeavor for Belgian developer Versluys Group, which was founded in 1908. Prosper, led and founded by former Wall Street financier Jay Roberts, has made inroads in Miami real estate in recent years, though no projects have reached the construction phase yet.
Brickell is seeing a rush of luxury development. Along the bayfront, billionaire hedge funder Ken Griffin is planning to build a mixed-use complex, including a 54-story office skyscraper. The Cipriani-branded and St Regis-branded condo projects remain under construction.
Julia Echikson can be reached at jechikson@commercialobserver.com.
