BH3 Management has begun demolition to make room for a new nine-story, 90,000-square-foot retail, showroom and office development at 3801 N. Miami Ave designed by renowned architectural firm Sieger Suarez in Miami Design District. Dubbed Design 38, the project is positioned at the southwestern entrance to the Miami Design District.
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Hyatt and Gencom Propose Arquitectonica-Designed Mixed-Use Redevelopment To Activate Downtown Miami Riverfront
Hyatt has teamed up with Miami-based luxury hospitality and residential developer Gencom, with the goal of redeveloping Downtown Miami’s iconic Hyatt Regency Miami, improving access in and out of the urban core, and activating a key piece of Miami’s riverfront. The Hyatt and Gencom venture is proposing a privately funded redevelopment that will comprise a reimagined upscale Hyatt Regency hotel.
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Shoma Group Acquires 2.5 Acre Transit-Oriented Site in Coral Gables To Develop Shoma One Mixed-Use Multifamily
Miami-based developer Shoma Group has announced its latest acquisition, a 2.5-acre site at 3650 Bird Road, currently home to Deel Volvo, near Coral Gables for $34 million. It will be the site of Shoma One, a mixed-use project with a 391-unit apartment community and a Shoma Bazaar food hall. The development is expected to cost $220 million to build.
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Florida East Coast Realty Sells Brickell Waterfront Development Site For Record $363 Million In Mega-Deal
Florida East Coast Realty has sold a 2.5 acre prime waterfront development site in Brickell in a mega-deal for a record $363 million. The transaction breaks the previous record set when the former Miami Herald site in Downtown Miami sold for $236 million. The buyer paid roughly $145 million per acre, $3,340 PSF dirt value, for the site which is located at 1201 Brickell Bay Drive.
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Naftali Group Acquires Miami Worldcenter Development Site For $41 Million, Plans Two Supertall Residential Towers
The New York-based developer Naftali Group has acquired a development site at 1016 NE 2nd Ave. in Miami Worldcenter for $41 million and is planning two supertall residential towers. The site was acquired in partnership with Cara Real Estate Management. The seller was Akara Partners who acquired the site for $18.8 million in July 2020.
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Sabal Development Sells 10-Acre Parcel To Lennar Homes For $24.5 Million In Off-Market Transaction
Sabal Development, a Miami-based builder and developer who specializes in luxury custom homes led by Pascal Nicolai, has sold a 433,422 SF, 10.17-acre, parcel located at 8290 SW 120th Street in Miami, Florida for $24.5 million to Lennar Homes. The off-market transaction closed on March 23, 2022 with no listing agents involved.
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Core Wynwood Development Site Sells For $11.5 Million
UOVO Storage Deluxe has acquired a core Wynwood development site at 330 NW 29th Street for $11.5 million from Red Group Estate. The buyer was represented by Jordan Karp and the seller was represented by Tony Arellano of DWNTWN Realty Advisors. 330 NW 29th Street is currently two fully occupied buildings leased as creative office space spanning 10,939 SF.
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One of The Last Vacant Development Parcels In Brickell Sells For $7 Million
One of the last development parcels in Brickell has sold for $7 million with plans for an approved and permitted 60 unit condo or apartment project. The 19,850 SF, .46 acre lot is located at 1621 SW 2nd Ave. in West Brickell, just a few blocks away from Brickell City Centre, SLS Hotel, Echo Brickell, Mary Brickell Village, and Brickell Bay Boardwalk.
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Kushner Cos. And Aimco Acquire Fort Lauderdale Development Site For $49 Million, To Build City's Tallest Tower
A partnership between Kushner Cos. and Aimco has acquired a development assemblage in Fort Lauderdale for $49 million and plan to develop Fort Lauderdale’s tallest tower. The development partnership acquired a 1.87-acre site at 520 W Broward Blvd. for $35.5 million from Swire Properties as well as a 2.31-acre site at 300 W Broward Blvd. for $13.5 million.
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Related Group and Merrimac Ventures Joint Venture Acquires Miami Worldcenter Development Site For $12 Million
A joint venture between Related Group and Dev Motwani’s Merrimac Ventures has acquired a development lot in Miami Worldcenter for $12 million from Miami Worldcenter Associates. The .6 acre lot is located at 601 North Miami Avenue and 25 Northeast Sixth Street and is currently used as a surface parking lot.
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