Miami Condo Market and Lifestyle Updates
Groups Bid $100 Million on a Downtown Miami Lot

Groups Bid $100 Million on a Downtown Miami Lot

by Sep Niakan | May 14, 2014

The waterfront lot next to Miami's EPIC Hotel and Residences has received two offers of over $100 million for the property.

A company tied to Ugo Colombo and Diego Lowenstein, developers of EPIC, want to sell the 1.25 acre lot located at 300 Biscayne Boulevard Way, and have hired brokers to sell it. CBRE, a commercial real estate company, began showing the property to prospective buyers about a month ago.

Since then, almost 100 groups have been interested in acquiring the property, but Given and Gerard Yetming, the brokers leading marketing for the lot, will not respond to the bids until all have been made.

“We’re looking for the best combination of pricing as well as the quality of the developer,” Given said. They believe there is more to selling the property than the price tag.

In the history of Miami, only nine properties have sold for over $100 million, including the Related Group's purchase of the 444 Brickell Avenue property for $104 million in December of 2013.

 

Source: therealdeal.com

Photo credit: Downtown - therealdeal.com

Recent posts

Real Estate News

Luxury Miami Condo Report : March 2017

by Sep Niakan | April 20, 2017

Miami Luxury Condo Report Overall Market Summary City and Neighborhood Luxury Condo Reports              Miami Beach Luxury Condo Report                  ...

Lifestyle

Miami May Events Round-up

by Sep Niakan | April 18, 2017

The temperatures are picking up and it’s time to lather on the sun tan and cool off with some awesome events around town. Here’s our pick of the hippest festivals in Miami to make for a magnificent May: SunFest Music and Arts Festival...

Lifestyle

A Guide to Miami's Best Beaches

by Sep Niakan | April 17, 2017

Think Miami Beach and most people conjure up images of Spring Break, bikini-clad college students and a wild party worthy of '90s-era MTV. However, truth is that Miami’s beaches have a lot more to offer than those hyped up versions of...

Real Estate News

Miami’s New and Pre-Construction Condo Update: March 2017

by Sep Niakan | April 14, 2017

March has been a pretty busy month for Miami’s condo pre-construction market. From two sales gallery launches to four buildings topping-off, there’s been plenty of activity to keep the market abuzz. The biggest news, however, came in the...