José Afonso Assumpção

Miami Sunrise Properties Purchases Entire Edgewater Block

Block Owned By Miami Sunrise Properties in Red

Miami Sunrise Properties purchased two properties in Edgewater between NE 33rd and NE 34th St for $4 million, according to The Real Deal. This gives them the entire block except for one building at 440 NE 34th Street.

In September 2014, Jose Alfonso Assumpçao of Miami Sunrise Properties purchased The Wendy's on that lot at 3333 Biscayne Boulevard for $12.5 million. 

In 2013 Assumpçao purchased land in West Brickell for $13 million and ended up flipping it in 2014 for $20 million. Construction on Broadstone Brickell is now rising on that land. 

Construction Begins On Broadstone Brickell

Broadstone Brickell Construction Site

Broadstone Brickell Construction Site

After plans for Broadstone Brickell were revealed in September 2014, construction has begun on the site at 267 SW 11th St. The addition of the 372 rental condo is adding to the transformation of West Brickell from single family houses to condos. 

The land was originally purchased by Miami Sunrise Properties for $13 million, but was flipped and sold for over $20 million to Alliance Residential Company in November 2014 for the 1.9 acre site. 

The residential condo will rise 24 stories and Moss and Associates in the contractor for the project.

More Changes To West Brickell?

Low Rise Apartments in West Brickell

Low Rise Apartments in West Brickell

A Brazilian airline investor named José Afonso Assumpção, has been buying properties all over Miami in 2013, including land in Edgewater and Brickell. The buying has been done under the name Miami Sunrise Properties and been operated by Elena Arechaga. 

Some of the land that has been purchased in West Brickell were a few low rise apartment buildings and single family homes located between SW 10th St and SW 11th St. and bordered to the west and east by SW 3rd Ave and SW 2nd Ave. Assumpção paid $13 million for the land, totaling 92,250 square feet. According to Metro1, Assumpção had plans to build a project called "1010 Second", which would have been two 33 story buildings with a hotel and apartments. Apparently that project has fell through and another investor has offered almost double what Assumpção paid.

All of the residents of the apartments and houses have already left and the buildings have been boarded up. They will probably stay that way until Assumpção sells the land to another investor or decides to build. 

Across the street to the North of the land owned by Miami Sunrise Properties was a two story public housing complex that has been recently torn down. The land is owned by the city of Miami and zoning codes allow for a building up to 24 stories. No word on what they are planning to build on the site.

West Brickell has already seen a a recent transformation and with development of this land will continue the metamorphosis.