Real Estate
Southeast Financial Center
The Southeast Financial Center in Downtown Miami is for sale with a value of $500 million.
The 55 story building at 200 South Biscayne Boulevard is the second tallest building in Miami after the Four Seasons. It was built in 1984 and was designed by Skidmore, Owings & Merrill.
Tenants include Goldman Sachs, Morgan Stanley and Merrill Lynch.
Purchased Site in Red Along the Miami River
Shahab Karmely of Kar Properties and Alex von Furstenberg have purchased property at 131 NW South River Drive along the Miami River, according to The Real Deal.
The property was purchased for $5.4 million with plans to turn it into restaurant with event and entertainment space.
Karmely is also developing One River Point along the Miami River across from Brickell, which will be two 928 foot towers.
The Miami River has been very active lately with the construction of a Sushi Samba, the proposed Edge on Brickell, the approved Riverside Wharf, Chetrit Group's Miami River complex and even the re-lighting of Rockne Kreb's "The Miami Line."
The new restaurant on the site will open by the end of the year.
90 SW 8th Street
After being on sale since August 2014, an office building in Brickell at 90 SW 8th Street is in contract for purchase, according to The Real Deal.
The buyer is The Barlington Group and they expect to invest $45 million in the property, which will include retail and a restaurant.
The property is located across the street from Brickell City Centre and next to the under construction Solitair Brickell.
The Lights of The Miami Tower
The iconic Miami Tower has sold for $220 million, according to The Real Deal.
The 47 story tower was built in 1987 and was designed by architect I.M. Pei. It is famous for its changing lights, which can be seen for miles in Miami. While under construction in 1984, the building caught fire on the ninth floor, which delayed work for weeks.
Originally called CenTrust Tower, the building has been featured in Miami Vice, both the T.V. show and movie, and Gloria Estefan even filmed a music video on the rooftop.
I&G Miami LLC purchased the 618,990 square foot building in 2010 for $105.5 million before it was bought by an affiliate of Sumitomo Corporation of America.
Miami Riverside Center
In August of last year, City of Miami officials were looking to sell their administrative building at 444 SW 2nd Avenue, Miami Riverside Center, for $22 million.
The city revised a deadline of May 17 to June 20 to receive offers on the 3.15 acre site, according to Miami Today.
Just North of the site, a proposed 34 story rental tower called Riverside Tower recently signed a utility deal.
Overview of Coconut Grove
A two story building in Coconut Grove, located at 3034 Grand Avenue, which used to be the home of the restaurant Johnny Rockets, has sold for $23 million, according to The Real Deal.
The 22,226 square foot lot, built in 1925, sits across from the mall Cocowalk, which sold for $87.5 million in 2015 and the newly revamped Engle Building, which now includes Panther Coffee, Harry's Pizzeria and Kit & Ace. The building was purchased by L3 Capital from Grove Corner LLC, who paid $10.5 million for the property in 2013.
Further down the street at 3101 Grand Avenue, a 1.35 acre site, which includes a Subway, Kwik Food Store and UPS has been listed for $39.5 million, according to The Real Deal.
Genting World Resorts Miami Site
The Miami Herald is speculating that the Genting Group might be looking to flip the 14 acres of land they purchased in 2011 for $236 million and even had a potential buyer look at the site.
When the site was purchased, Genting planned to build a mega resort on the edge of Biscayne Bay that would also include a casino. Included in the purchase of the land was the former Miami Herald Building, which took almost a year to completely tear down.
There was even discussion in 2014 with The Related Group to partner on a project, but plans never came to fruition.
The only activity on the site is the renovation of the historic Boulevard Shops on Biscayne Boulevard.
