M
eta Development is planning a luxury lowrise condominium in Brickell, Miami, after acquiring an assemblage of properties for $21 million. The company has a contract to buy a small apartment building at 1880 Brickell Avenue for $10.7 million and plans to tear it down. Meta also recently purchased the adjacent vacant parcel at 1870 Brickell Avenue for $10.3 million, both from Mexican firm Menesse International.

    Meta President Andrew Rasken expects to close on the apartment building by early next year and submit a site plan to the city of Miami. The planned condominium will feature two five-story buildings with rooftop pool decks, offering three-, four- and five-bedroom units starting at $2.5 million each. Designed by Ospa Architecture, the project aims to deliver a class A product that competes with high-rises in Brickell.

    Rasken and partner Bruno Benevides of Iron Capital have over two decades of development experience between them. Rasken previously developed luxury spec homes in Coconut Grove and other areas, while Benevides' company has built $3 billion worth of large condominium projects in Brazil. Meta is also developing Opus, a six-story boutique condominium with 14 units in Coconut Grove, which launched sales in August and is expected to be completed by 2026.