Miami Condo Market and Lifestyle Updates
Brazilian airline mogul buying Edgewater land

Brazilian airline mogul buying Edgewater land

by Sep Niakan | January 03, 2014

A Brazilian airline mogul is gobbling up residential land in Miami, with a recent emphasis on the emerging Edgewater neighborhood.

Miami Sunrise Properties, which has ties to 80-year-old Lider Aviacao founder Jose Afonso Assumpcao, paid $205 per square foot for a multi-property site at Biscayne Boulevard and 34th Street, Daily Business Review reported. Lider Aviacao is the largest private jet and helicopter company in Brazil. Miami Sunrise spent 2013 assembling a site west of the Brickell CityCentre development and is expected to sell the land at a significant profit.

Assumpcao’s company has no immediate plans to develop the 37,000-square-foot Edgewater site. Its purchase included approvals to build a 16-story, 127-unit residential tower on the land. 

 

Source: therealdeal.com I  dailybusinessreview.com

 

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