Prosper Group Plans 60-Story Brickell Tower Following $50M Land Acquisition

Miami-based developer Prosper Group, led by CEO Jay Roberts, has acquired a 1-acre waterfront parcel in Miami’s Brickell district for $50 million. The development site, spanning 66 Southwest Sixth Street and 625 Southwest First Avenue, includes roughly 300 linear feet of Miami River frontage near Brickell City Centre.

Prosper Group intends to construct a two-phase project anchored by a 60-story luxury residential tower featuring 181 condominium units. A second commercial building is also planned for the site, with over 80 engineering, architectural, and sales consultants engaged on the development team.

The Brickell transaction forms part of Prosper Group’s broader $2.8 billion Florida development pipeline, which encompasses three sites in Miami and one in Tampa. Roberts, a former Wall Street investment banker with Bank of America Merrill Lynch, previously assembled a city-block condo-hotel development adjacent to Downtown Tampa's Water Street project before shifting focus back to waterfront South Florida holdings.

The project demonstrates sustained institutional and private equity appetite for high-density, prime waterfront parcels in South Florida despite elevated construction and financing costs.