Little River has been a hotspot for investment and yet another significant transaction has as an undisclosed buyer acquired a development site for $13.3 million. The sale included 2.2 acres on NE 2nd Ave in the northern section of Little River, located at 8038 NE 2nd Ave. Gridline Properties’ Broker and Principal Alfredo Riascos represented the seller, Thomas Conway of Conway Commercial Real Estate.
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Renderings of Related Companies Frank Gehry-Designed Redevelopment Of The Deauville Miami Beach
Related Companies, led by the billionaire owner of the Miami Dolphins Stephen Ross, has revealed the first renderings of the Frank Gehry-designed two tower project proposed to replace the Deauville Beach Resort in Miami Beach at 601 Collins Avenue. The two towers would feature 125 residential units and 175 hotel units with the tallest tower rising 373’. Initial plans point towards an Equinox-branded project.
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Alchemy-ABR Investment Partners Close On Wynwood Development Site For $18 Million
Alchemy-ABR Investment Partners, a fully integrated New York based real estate development and investment firm, have closed on a development site at 18 NW 23rd Street in Wynwood for $18 million. The property spans 36,079 SF and the acquisition represents Alchemy's first residential project in Florida. Israel Discount Bank provided financing for Alchemy-ABR Investment Partners to purchase the vacant lot.
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Electra America and BH Group Reveal Plans for $1 Billion Redevelopment of 80-Acre Southland Mall Site In Cutler Bay
Electra America, a real estate private equity firm focused on value-add and opportunistic investment in the Sun Belt region of the U.S., along with its U.S.-affiliate, American Landmark, and BH Group, a Miami-based private real estate investment and development firm, have revealed preliminary plans for the redevelopment and reinvention of the Southland Mall in Cutler Bay, located approximately 20 miles south of downtown Miami.
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Lynd Living Locks Down $22.75 Million In Financing For Miami Worldcenter Site Acquisition
Lynd Living has acquired Block 23 at Miami Worldcenter for $30 million, financed by a $22.75 million acquisition land loan. Block 23 is located between NW 9th and NW 10th Street on North Miami Avenue and is one of the last remaining land sites within Miami Worldcenter, the 2nd largest master planned community in the country, behind New York City’s Hudson Yards. The transaction closed on August 26th.
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The Estate Companies Obtains Site Plan Approval For Soleste on the Bay Luxury Waterfront Rental Development
The Estate Companies (EIG) has obtained unanimous site plan approval for Soleste on the Bay, a 759,439 square-foot, 28-story luxury waterfront rental community with 363 units, 17,000 square feet of commercial space and 645 parking spaces at 16375 Biscayne Blvd. in North Miami Beach. The city commission voted unanimously in favor of the project on Aug. 16th.
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Two Combined Single-Family-Home Lots at The Links Estates at Fisher Island Sell For $13 Million
Two combined single-family-home development lots at The Links Estates at Fisher Island spanning 31,619 SF have sold for $13 million, $411 PSF of dirt. Sandra Fiorenza with ONE Sotheby's International Realty and her husband Randall, the CEO and Owner of Pan Am Flight Academy, purchased 1003 and 1004 Links Estate Drive from the developer Fisher Island Holdings, LLC, led by Heinrich von Hanau. 1003 spans 15,949 SF and 1004 spans 15,670 SF, offering a combined 31,619 SF.
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PPG Development Acquires Bay Harbor Towers For $32 Million
PPG Development, led by Ari Pearl, have acquired Bay Harbor Towers, located at 10141 and 10143 East Bay Harbor Drive. The 1.03-acre property sold for $32 million, which equated to a price of $1,066,667 per existing unit. The transaction was overseen by Cary Cohen of Blanca Commercial Real Estate and Deme Mekras of MSP Group.
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Dubai-Based DAMAC Properties Closes On $120 Million Surfside Site Of Collapsed Condo, To Build Cavalli-Branded Condo
The Dubai-based DAMAC Properties, who was revealed as the she stalking horse bidder for the site of the former Champlain Towers South in Surfside, Florida which tragically collapsed in June 2021, has closed on the site for $120 million. DAMAC Properties, led by billionaire developer Hussain Sajwani, is planning to develop a Cavalli branded condo project on the site.
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RELATED, ROVR AND BH GROUP BEGIN VERTICAL CONSTRUCTION ON SOLD OUT DISTRICT 225 CONDOMINIUM
Real estate industry leaders Related Group, ROVR Development and BH Group have officially broken ground on the sold-out District 225. Located at 225 North Miami Avenue in Downtown Miami, the 343-unit property is a new luxury condominium tower offering residents the ability to host their condos on Airbnb for any stay length (subject to applicable laws and restrictions). Completion is slated for 2024.
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