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Real Estate
251 Washington Avenue
Two lots located at 251 Washington Avenue in the South of Fifth district of South Beach are back on the market, according to The Real Deal.
The lots were purchased last year for $8.25 million by Adam Hyatt, who planned to build a luxury boutique hotel.
The 13,000 square foot lots are listed for $9.5 million.
The Latin Cafe in Edgewater
The Latin Cafe in Edgewater has sold for $13 million, according to SFBJ.
The 25,951 feet of land, which also includes the adjoining parking lots is located at 2501 Biscayne Boulevard in the booming Edgewater district of Miami.
The Next Miami reports that the buyer is a Canadian businessman named William Weiner.
JHM Hotels has purchased a site located at 511 NE 15th St for $8 million, according to The Real Deal.
The lot size of 11,700 square feet currently has a single story building, which is near the Venetian Causeway and across the street from where the Miami Herald building once stood.
The site is zoned for 36 stories with a potential to go as high as 60 stories.
2450 NW 5th Avenue
A building located at 2450 NW 5th Avenue has been purchased for $5.4 million by developer Moishe Mana, according to The Real Deal.
The building was built in 1955 and the lot size is 9,685 square foot. Mana owns more than 30 acres of land in Wynwood, including the Mana Wynwood Complex. The Complex would include a 24 story building and over 3,400 residential units.
Purchased Lots in Red
Melo Group has purchased land totaling $11.5 million in the Arts & Entertainment district of Miami, according to The Real Deal. The lots are located at 1523, 1529, 1545 NE Miami Court, 1502, 1546 NE Miami Place and 47 NE 15th Street.
The total square foot of the lots purchased is 35,300.
To the East of the purchased lots, Melo Group is building Melody, which just recently topped out. Melo Group also purchased an entire block for $16 million just South of the recently purchased lots in October 2014.
Purchased Land in Red
Related Group has made its first purchase in Wynwood by partnering with Block Capital Group, according to The Real Deal.
Both Related Group and Block Capital Group each paid $5.25 million for 52,500 square feet of land between NW 26th Street and NW 27th Street.
Recent zoning changes allow for denser residential developments in Wynwood on 205 acres.
Land Purchased in Red
Nearly an entire block has been purchased in Edgewater between NE 2nd Ave and NE 2nd CT, according to The Next Miami.
7 of the lots on the block were purchased in June 2012 for $1,375,000 and the church on the corner of NE 2nd CT and NE 18TH St was purchased for $2.4 million in May of this year. The buyer is 17th & Second Ave Properties Corp, which is controlled by Enrique Manhard and Vivane Sasson de Manhard.
The total square footage of all the lots is 60,375 square feet excluding the Padel Courts on the Southwest corner of the block, which haven't been purchased yet.
