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Real Estate
The SunTrust Building located at 777 Brickell Avenue has sold for $140 million according to The Real Deal.
The 13 story office building is attached to a 5 story parking garage located on the waterfront heading into Brickell Key. The property is in a prime location on the corner of Brickell Ave and SE 8th St.
The purchase was made by a private South American Investment Group.
Omni District in Miami
A site located at 1530 NE Miami Place in the Miami's Omni district has been listed for sale at $24 million, according to the Real Deal.
The 1.57 acre land is zoned for a 24 story building or 787 units.
The sale is all apart of the latest revival of the Omni district, with many new and purposive developments expected to happen in the future.
Miami's Omni District
After many purchases of vacant land in Miami's Omni District, the area looks to be heading towards a rebirth, according to the Miami Herald.
The neighborhood is located just North of Downtown, but South of Wynwood, Midtown and the Design District. Recent purchases in the area include 1400 Biscayne (Auberge Residences & Spa), Melo Group's land at NE 14th St & NE 1st Ave, and a $64 million transaction just South of the Miami Cemetery.
Land prices were around $60 a square foot five years ago have increased to $390 a square foot, but developers believe condos can be cheaper than Downtown, Brickell and Edgewater.
Florida Power & Light sold a lot in Downtown Miami at 201 SW 2nd Avenue for $21 million, according to SFBJ.
The 2.24 acre lot was purchased by Miami Bridge Lot Ventures in a joint deal with Ytech International and developer Carlos Mattos.
The site can be developed for a mixed building such as residential, office, hotel and office. It has the potential to reach 36 stories.
The Purchased Site Highlighted In Red
A vacant lot located at the corner of NE 2nd Ave and NE 17th St. in Edgewater has just sold for $64 million. The land is just South of City Cemetery and the lot size is 7.4 acres.
The seller is BDM Miami and the buyer is Rebuild Miami-Edgewater. BDM Miami had plans to build Bayview Market before the recession came.
An affiliate of China City Construction and American Da Tang Group have bought the 2.39 acre site that was formally Capital at Brickell, according to the Daily Business Review.
The site had been for sale since 2013 and marketed by CBRE. The 1430 S. Miami location is right next to the under construction SLS Brickell and in the heart of the building boom in Brickell.
The Starlite Motel in Brickell has sold for $25 million according to The Real Deal.
The two story motel was purchased by Optimum USA Brickell 2 LLC.
The property located at 128 SW 7th St. is one block West of Brickell City Centre, which is under construction.