Miami Condo Market and Lifestyle Updates
Investor Purchases Plot in Overtown

Investor Purchases Plot in Overtown

by Sep Niakan | May 01, 2014

Michael Simkins, Miami Beach investor, bought 10 properties totaling over one acre in Miami's Overtown neighborhood.

Lion Folk Life Village, the company affiliated with Simkins, acquired the property located north of the future downtown Miami train station designed by All Aboard Florida, for $3.6 million. Nine out of the 10 plots are empty, and a small apartment building is on the last property. The Collins Center, a nonprofit company, sold the properties to Lion Folk.

Lion Folk purchased the property for $58 per square-foot. This price reflects the recent increase in property values in the area. Three properties near the site sold for around $30 per square foot each back in 2012.

The purchase of the properties may reflect the desire of the partnership of the Simkin's family and former Miami Worldcenter partner Marc Roberts' to develop a high-rise project in the area.

 

Source: therealdeal.com

Photo credit: Michael Simkins - worldredeye.comMap - exmiami.orgOvertown - transitmiami.org

Recent posts

Real Estate News

Could Cite in Edgewater Have New Hotel Neighbor?

by Sep Niakan | January 12, 2017

According to thenextmiami, a petition involving a 15 by 75 feet alley has sparked speculations that a brand new hotel could be coming to Edgewater. Why? Simply because this alley comes attached to a 7,875 sq. ft. plot located at 348 Northeast 20...

Real Estate News

Brickell Avenue Bridge Schedule, Traffic and Solutions -- All You Need To Know

by Sep Niakan | January 09, 2017

Ever tried driving from Brickell to Downtown Miami for lunch? Most Miamians dread the thought of catching the dreaded drawbridge, which opens every hour or half-hour during non-curfew hours to allow river traffic to pass under. So what’s...

Real Estate News

9 Positive Signs for the Miami Real Estate Market in 2017

by Sep Niakan | January 08, 2017

Last year’s headlines weren’t too kind to Miami with hurricanes, Zika warnings and falling sales painting a dark picture. However, with the elections finally done with, there are plenty of reasons to be optimistic about 2017: 1. ...

Real Estate News

Projects That Will Change the Way We Look at Wynwood, Forever!

by Sep Niakan | December 28, 2016

We all know Wynwood as the friendly, hipster neighborhood splashed with the best street art in the world. It’s where we all go for our art fix, browse far-out finds and linger around for a couple of craft beers. But, how about shopping,...