400 Biscayne

400 Biscayne Secures $161.5M Construction Loan

400 Biscayne Site

400 Biscayne Site

400 Biscayne has secured a $161.5 million construction loan for the 49 story tower in Downtown Miami, according to The Miami Herald.

Developed by Property Markets Group and Greybrook Realty Partners, 400 Biscayne had the groundbreaking in June.

400 Biscayne will have 646 rental apartments and 51,000 square feet of commercial space.

Groundbreaking Begins At 400 Biscayne In Downtown Miami

400 Biscayne

400 Biscayne

Groundbreaking has begun on the 49 story 400 Biscayne in Downtown Miami.

Developed by Property Markets Group and Greybrook Realty Partners. the site was purchased for $53.6 million in July 2017.

400 Biscayne will have 714 rental units, 3,000 square feet of retail, 48,000 square feet of office space and a 25,000 square foot church to be occupied by the First United Methodist Church.

Plans Revealed For PMG X Biscayne At 400 Biscayne

PMG X Biscayne Rendering

PMG X Biscayne Rendering

Plans have been revealed for a 49 story tower located at 400 Biscayne Boulevard called PMG X Biscayne.

PMG X Biscayne will have 646 residential units 48,000 square feet of office space and 3,000 square feet of retail.

The Sieger Suarez designed building is being developed by Property Markets Group and Greybrook Realty Partners. The site was purchased for $53.6 million in October 2017.

Property Markets Group and Greybrook Realty Partners completed the nearby 31 story X Miami in July 2018.

The First United Methodist Church, which has been torn down on the site, is getting a new facility apart of the property with separate entrance.

Plans for PMG X Biscayne go for review by Miami’s Urban Development Review Board tomorrow.

Property Markets Group And Greybrook To Partner On 400 Biscayne Site

400 Biscayne Rendering

Greybrook Realty Partners has invested $32.3 million with Property Markets Group to build a tower at 400 Biscayne Boulevard, according to The Real Deal. 

The site is under contract after a purchase price of $53.6 million in July from Property Markets Group. Currently on the site is the First United Methodist Church, which was built in 1980.

Property Markets Group and Greybrook Realty Partners plan on building a tower with 690 residential units and 20,000 square feet of commercial space.

PMG and Greybrook are also developing the under construction Vice rental tower, which topped off in June of this year.