Monarch Alternative Capital and Tourmaline Capital Partners are seeking more than $400 million for 801 Brickell, a 28-story office building in Miami's financial district, after hiring Eastdil Secured Savills to find buyers. The asking price implies about $900 per square foot, well above the $250 million paid to Nuveen Real Estate in 2023. The transaction would test demand for older office properties in Brickell, where rents average $90.25 per square foot but 801 Brickell's rents are 40% below neighborhood asking rates. The building competes with newer developments such as 830 Brickell, where Peter Thiel's family office signed a record lease at $250 per square foot. 801 Brickell's tenants include Mastercard, BNP Paribas Securities, the U.S. Securities and Exchange Commission (SEC), Galderma Laboratories, the U.S. General Services Administration, Venable and Varonis. KBRA valued the property at $219 million as of Sept. 30, while its $229 million floating-rate refinancing matures in October 2027.