An affiliate of the Commingled Pension Trust Fund of JPMorgan Chase Bank confirmed that rumors about the contract for the 93,000 square-foot site at Midtown 6 and an option to buy on the 80,000 square-foot Midtown 7 site, were all very much real.
The seller, Midtown Opportunities, filed a request to build 398 residential units and 12 commercial units on the prime real estate property several years ago. That property would be called Six Midtown Miami. In mid-September, however, the condo declaration was dismissed and the property was put under contract.
Back in October of 2014, an affiliate of the same JPMorgan entity purchased the Midtown 5 property and received approvals, beginning construction shortly after.
Recently, the Related Group and Dezer Development broke ground on the Hyde Midtown/Midtown 3 project. That development will contain 400 residential units and 60 condo and hotel units.
Source: thenextmiami.com
Photo credit: thenextmiami.com