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Real Estate
Fifteen Group has paid $14.3 million for the First Church of Christ Scientist in Edgewater, according to The Real Deal.
The site is located at 1836 Biscayne Boulevard and can now be zoned for up to 500 units.
Church was previously going to be used as a restaurant designed by Arquitectonica.
Land Bought By Melo Group Highlighted In Red
Melo Group has purchased land and property on the corner of NE 14th St and NE 1st Ave for $16 million according to SFBJ.
The seller is Astra International Inc and the site is located in the Arts & Entertainment district of Miami and is close to I-95 and Overtown. The land is around the corner from where the movie Rock of Ages was filmed and is across the street from the Estefan's are planing a mixed used building with hotel and restaurant.
Melo Group is building Melody just a few blocks East and starting construction on Aria on the Bay early next year.
1400 Biscayne Blvd Site
The Related Group has purchased property at 1400 Biscayne Boulevard for $57.3 million. The land sits just West of the old Miami Herald Building owned by Genting Group and just North of the Adrienne Arsht Center.
Related Group is planning three mixed used towers for the 2.8 acre site, according to The Miami Herald.
Related Group has many projects being developed in Miami right now including Hyde Beach Resort & Residences, SLS Brickell, 1100 Millecento, and Paraiso Bay.
Lot at 3333 Biscayne Blvd
A 43,133 square foot property in the ever expanding Edgewater district according to SFBJ. The site is located at 3333 Biscayne Blvd also includes a Wendy's restaurant. The lot South of the Wendy's between NE 33rd St. and NE 34th St is currently fenced off.
The land is located just West of where Related Group is building the Paraiso Bay compound with four condo towers.
Miami Sunrise Properties also bought land across the street from their current purchase at 3360 Biscayne Blvd earlier this year.
Courtyard Marriott Downtown In Downtown Miami
The owner of the Courtyard Marriott Downtown, AVR Realty, is listing the hotel for sale through CBRE.
The recently renovated hotel has 233 rooms and rises to 13 stories. The hotel sits on 1.1 acres and zoning in the area allows up to 1,070 condo units.
The building is located next to the iconic Miami Tower and the Montage at Met 3, which is currently being constructed.
Bids will be submitted in October and an official sale is expected by November.
Property For Sale At 90 SW 8th St.
An office building located at 90 SW 8th St is being offered for sale according to The Real Deal.
Marcus and Millichap is marketing the 45,000 square foot property and are looking for $35 million.
The property is across the street from Brickell City Centre and next to Brickell Bayview Center, which will start construction later this year.
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.
