Banco Master’s expansion to Miami helped secure the city's growing status as a financial heavyweight with trophy office towers in Miami's downtown financial district now commanding rents comparable to Manhattan.
The Brazil-based investment bank leased about 27,000 square feet last year at 830 Brickell, bringing the 57-story office tower in the heart of Miami’s financial district to fully leased.
The lease for the last remaining space at Miami’s newest office tower was signed for nearly $200 per square foot, a record office rent per square foot for the city.
The deal was selected for a 2025 CoStar Impact Award for lease of the year for South Florida by a panel of independent judges familiar with the market.
About the lease: Banco Master occupies the 44th and 45th floors in the building developed by OKO Group, a real estate firm established by Chairman and CEO Vladislav Doronin, and Cain International, a privately held real estate investment firm operating in Europe and the U.S.
The 57-story tower, which opened in mid-2024, was the first stand-alone Class A+ office tower to be built in Miami’s Brickell financial district in over a decade. The fully leased building has attracted numerous new-to-market firms in Miami, with a majority of the building’s tenants establishing their first office in Miami.
The building's roster of financial, technology professional services firms includes Microsoft, Citadel, Kirkland & Ellis, Marsh Insurance, Sidley Austin, CI Financial (Corient), Thoma Bravo, Santander Bank and A-CAP, among others.
What the judges said: "This deal was the highest per square foot price in the history of office leasing in South Florida. It also seemed to have a lot of moving pieces to the negotiation involving the Brazilian tenant and ownership group,” said Maggie Guajardo Kurtz with Colliers International.
They made it happen: Brian Gale, Ryan Holtzman, Andrew Trench, Lena Weeks, Jeannette Mendoza and Edward Quinon of Cushman & Wakefield represented the landlord. Dayanne Costa of Compass Real Estate represented the bank.