Peter Thiel’s Family Office Inks Record Lease at 830 Brickell

Peter Thiel’s family office leased space at OKO Group and Cain International’s 830 Brickell tower in a record deal for Miami-Dade County.

The deal is for $250 per square foot for nearly 18,200 square feet of space on the 44th floor of the building, with Thiel’s family office taking over part of the space previously leased by the now collapsed Brazilian bank Banco Master, according to Bloomberg, which cited an anonymous source familiar with the matter.

The $250 a foot rate, a record for Miami-Dade County office leasing, is likely gross. Brokers leasing 830 Brickell previously told The Real Deal they were working on a deal at that rate and for a similar sized office.

Thiel, co-founder of PayPal and Palantir Technologies, has been steadily opening Miami offices during the city’s boom over the past half decade. His San Francisco-based VC firm Founders Fund opened an office in the city in 2021, first in Brickell and then in Wynwood at 215 Northwest 24th Street. Founders Fund has invested in heavyweights such as SpaceX and Anthropic. Late last year, Thiel’s investment firm, Thiel Capital, also opened an office in Wynwood.

Palantir, which is led by Alex Karp, with Thiel serving as chairman, moved its headquarters to Miami this year. The AI firm faced controversy and protests at its previous base in Denver, partly due to its work with Immigration and Customs Enforcement, though protests have been held in front of its new headquarters in a co-working space in Aventura. Thiel reportedly played a key role in the decision for the move.

830 Brickell, Miami’s newest office tower completed in 2024 fully leased after attracting much of the new-to-market influx in recent years, also counts Ken Griffin’s Citadel, Thoma Bravo and Microsoft among its tenants. Banco Master’s space at the tower became available after the bank collapsed as part of a massive fraud case in Brazil.

This year, Miami is experiencing another influx, amid the blue-to-red state flight especially by billionaires and centimillionaires that could potentially face higher taxes in California, New York and Washington. Some are opening small to mid-sized Miami area offices for their firms or company headquarters, with many others expected to follow suit.

Florida has no personal income tax, and voters will decide on a November referendum whether to slash property taxes for primary homes by increasing the homestead exemption.

Thiel recently spent time in Argentina, after he vehemently opposed taxes in the U.S., meeting with President Javier Milei and reportedly buying a mansion in Buenos Aires.

Thiel also owns a pair of adjacent Miami Beach mansions on the Venetian Islands.

–– Lidia Dinkova