SunTrust International Center Sold For $127M

May 15, 2018 in Downtown Miami, Miami, Real Estate

The 31 story SunTrust International Center located at 1 SE 3rd Avenue in Downtown Miami has been sold for $127 million, according to The Real Deal.

Built in 1969 on a 46,844 square foot lot, the building was purchased by PCCP LLC, a real estate investment firm in Los Angeles, and sold by Crocker Partners. Crocker Partners purchased the building for $82.4 million in August 2011.

The nearby Southeast Financial Center sold for $516.6 million in December 2016 and The New World Tower sold for $84 million in October 2016.

Brightline Service To Begin From Miami Station On May 19

May 14, 2018 in Downtown Miami, Miami, Virgin MiamiCentral

Brightline is set to launch from MiamiCentral Station in Downtown Miami May 19 to begin service from Miami to Fort Lauderdale, West Palm Beach and eventually Orlando. Fares will start between $10 - $25.

MiamiCentral Station is still under construction with the office building 2 MiamiCentral and the ParkLine Residences Towers on the Southern part of the station. The 12 story office building, 3 MiamiCentral, was completed in January of this year.

Previous construction photos of MiamiCentral can be viewed here.

Miami Riverside Center Could Go To Vote In November

May 10, 2018 in Adler Group, Miami, Miami Riverside Center, Miami River, Real Estate

A deal to swap Miami Riverside Center, located a 444 SW 2nd Ave could go to vote in either August or November of this year, according to Miami Today.

The City of Miami has outgrown the building and is looking to sell the building in return for a developer to build a new office for the City elsewhere.

Miami Riverside Center was initially for sale in August 2015.

In July 2016, Adler Group won a bid to replace Miami Riverside Center with Nexus Riverside Central, that would have two 36 story rental towers with 900 units, 150 hotel rooms and 20,000 square feet of retail/restaurant space.

Adler Group also owns 1.6 acres of land next to Miami Riverside Center, which they purchased for $14.25 million in February 2016.

Photos Of The Design District Museum Garage At Night

May 09, 2018 in Craig Robins, Dacra, Design District, Miami, Architecture

As Museum Garage in the Design District will soon be opening for the public, the outside façade of the garage lights up spectacularly at night with the work curated by Terence Riley of K/R Architects and featuring the work of WORKac - "Ant Farm", J. MAYER H. - "XOX - (Hugs & Kisses), Clavel Arquitectos - "Urban Jam" and Nicolas Buffe - "Serious Play".

Museum Garage is located across the street from the recently opened Paradise Plaza in the Design District.

Site Work Begins At Chiquita Banana Site In Midtown Miami

May 08, 2018 in Construction, Miami, Midtown Miami, Rental

Construction has started at the Chiquita Banana at 2900 NE 2nd Ave in Midtown Miami.

The 6.6 acre site was sold by Alex Vadia and purchased by AMLI Residential for $55 million in November 2015.

AMLI Residential plan on bringing over 700 apartments to the site, including a 12 story North Tower with 485 units and a 8 story South Tower with 215 units.

There has been a lot of activity in Midtown Miami recently with the completion of Midtown 5 in January 2017, the completion of Midtown 29, the under construction Midtown 6 and the recently topped off Midtown 8.