Edgewater Assemblage Site Lists for $49.5M

Edgewater Assemblage Site Lists for $49.5M

Mar 16, 2021 March 16, 2021

A commercial assemblage spanning almost three acres in Miami’s blooming Edgewater neighborhood was recently placed on the market with a price tag nearing $50 million. The site includes a commercial building as well as 54 apartments.

According to property records, the assemblage, located at 3333 Biscayne Boulevard, is controlled by Miami Sunrise Properties LLC, and encompasses 2.8 acres stretching from Biscayne Boulevard to Northeast Fifth Avenue, on the block between Northeast 33rd and 34 streets. The assemblage consists of 11 parcels on the eastern side of Biscayne Boulevard and includes a Wendy’s commercial building along with 54 multifamily units, generating annual gross revenues estimated at about $919,000, according to the developer’s promotional materials targeting corporate as well as private investors.

Those marketing materials also note that this assemblage is among the largest development sites still available in the rapidly growing Edgewater neighborhood, and that the site has the potential to be developed into a 36-story tower, or a high-rise with as many as 60-stories, and also includes extra bonuses. The site is cleared for construction of some 417 residential units along with an additional 2 million square feet of new construction. It’s also cleared for residential, office, retail, and hospitality use.

Miami Sunrise Properties, headed by Jose Afonso Assumpção, founder of Brazilian airplane charter and sales company Lider Aviacão, noted that the current listing is lower than a previous listing asking a much higher price. The company, which has invested some $31.5 million in the property, has been developing the site since 2014, according to public records.

Among other comparable development properties in Edgewater is the Hamilton on the Bay apartment building located at 34th Street, for which Aimco Properties paid almost $90 million in August of 2020.

Meanwhile, the Crescent Heights project, led by developer and attorney Russell Galbut, recently gained city of Miami approval for its plans to advance on a major mixed-use development, including a 38-story tower located at 2900 Biscayne Boulevard, with construction slated to begin in October of 2021.

Contact Sep Niakan
Founder, Condoblackbook.com & Owner/Broker, BlackBook Properties
(305) 697-7667
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

Miami’s Northeastern Corridor Commuter Rail Plan with Brightline Approved by County
Transportation Miami’s Northeastern Corridor Commuter Rail Plan with Brightline Approved by County
Transportation in the Magic City has certainly improved in recent years, transforming the lives of South Florida residents with constantly expanding commuter options such as the Brightline rail system. In keeping with the increase in rail services and improvements in public transportation options for the local community, the Governing Board of Miami-Dade’s Transportation Planning Organization voted to approve the $345 million commuter rail option planned for the Northeast Corridor of Miami-Dade County.  The commuter trains will run on the Brightline train tracks as part of the Strategic Miami Area Rail Transit, known as the SMART Plan.  Before the pandemic slowed down some of this progress, Brightline was providing intercity rail service between Miami, Fort Lauderdale and West Palm Beach. Per recent Board approval, the new commuter rail trains will now run between the MiamiCentral intercity station in Downtown Miami, making seven stops along its route to its final destination in...
Miami Condos with Electric Vehicle Charging Stations
Real Estate News Miami Condos with Electric Vehicle Charging Stations
There are tons of savvy people in Miami who wish to go green by switching to electric vehicles, but not having an EV charging station close to home can really put a dent in plans. But, in the last few years that’s been changing. The 2018 amendment to Florida’s Condominium Act opened up a lot of doors for eco-friendly vehicles in Miami. The law, which went into effect on July 1, 2018, gave unit owners the right to install and use an electric vehicle charging station within their condominium building. Last updated on April 12, 2021 2018 Condo Law Amendment Regarding Installation of Electric Vehicle Charging Stations in Miami According to this amendment, condo owners can install a charging station for electric vehicles in the designated parking area of their building (i.e. their assigned parking space). But, those opting to install such EV charging stations would have to do so at their own cost, while staying in compliance with all safety and building codes and have a separate meter...
Miami Neighborhood Comparison: Edgewater vs Downtown Miami
Neighborhood Comparisons Miami Neighborhood Comparison: Edgewater vs Downtown Miami
Two Miami neighborhoods that have evolved the most in the past five years are Edgewater and Downtown Miami, where new developments have changed the face of what were once depressed areas and transformed them into vibrant new urban neighborhoods that now offer top-rate options, like parks, cafes and dining, and arts and entertainment. Both neighborhoods are centrally located and are within very close proximity to one another, sharing many of the same benefits.  So, what makes one Miami neighborhood better than the other? Well, we’re giving you our Insider’s view on these two neighborhoods, so you can know them better and see which one may be best for you.   Lifestyle: Edgewater vs Downtown Miami  Edgewater is technically a waterfront community, making it very desirable. It’s a family-friendly residential neighborhood that sits smack on Biscayne Bay and is anchored by the waterfront Margaret Pace Park, an amazing natural greenspace that spans 8 acres. Its out-of-the-way waterfront...
Fort Lauderdale’s New and Pre-Construction Condo Update: March 2021
Real Estate News Fort Lauderdale’s New and Pre-Construction Condo Update: March 2021
It all started in 2020 - as a tidal wave of wealthy buyers came crashing onto South Florida’s shores. With the trend only getting stronger as we move into 2021, developers across Miami, Hollywood, and Fort Lauderdale have found favorable market conditions to move ahead with new condo developments. We saw Miami close March 2021 with an unprecedented number of sales, launches and announcements in the pre-construction segment (read details here), and Fort Lauderdale and Palm Beach seem to be following suit. Palm Beach’s Nautilus 220 launched sales this March. The Related Group won key approvals to build a high-rise condo project in Hollywood. And, Hallandale Beach’s 2000 Ocean is getting closer to completion. Read on for details on these and other updates part of our monthly roundup for March 2021 on Fort Lauderdale’s condo pre-construction market: Sales Launched Nautilus 220 – North Palm Beach Artist Rendering Forest Development launched sales on its highly-anticipated,...
Miami’s New and Pre-Construction Condo Update: March 2021
Real Estate News Miami’s New and Pre-Construction Condo Update: March 2021
Miami’s luxury condo market has seen a huge demand from wealthy buyers over the last year. Especially those from the Northeast have shown heightened interest due to the lucrative tax savings offered by the State of Florida and the pandemic policies to keep state businesses open. This seems to be giving luxury condo developers a boost of confidence, as we saw an unusually high number of sales launches and contracts being reported for March 2021 compared to the last two years.  Downtown’s Waldorf Astoria plus Bay Harbor Island’s Ambienta and Onda launched sales this March. South Beach’s 57 Ocean, TEN30, and Downtown’s E11even Hotel and Residences reported blazing sales. Additionally, a whole slew of pre-constructions sped their way through planning and approvals such as Edgewater’s Island Bay. Even the long-quiet One River Point project witnessed a revival as its developer started renewing their push for permits. Read on for details on these and other updates in our Miami condo...
Waldorf Astoria: A Storied Brand, New Heights of Luxury for Miami’s Tallest Building
Real Estate News Waldorf Astoria: A Storied Brand, New Heights of Luxury for Miami’s Tallest Building
Launching sales this March, Waldorf Astoria’s hotel and residences have already left their mark on Miami’s pre-construction market. The 100-story condo-hotel will not only be the tallest building in Miami, but also the tallest building in Florida, and one of the most iconic buildings to be added to the city’s skyline in recent times. Along with eminent design features, this luxury Supertall is set to bring a brand-new world of allure to the Magic City. However, before diving into the kind of amenities future guests and residents can expect to enjoy at this condo-hotel, let’s take a look at the Waldorf Astoria brand and its storied history. About the Brand - Waldorf Astoria Waldorf Astoria - New York City, NY Waldorf Astoria is Hilton’s premium brand of luxury hotels and resorts. Representing the highest standards of facilities and services offered by Hilton Worldwide, this is the hospitality giant’s flagship brand, previously known as The Waldor=Astoria Collection. The story of...