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Real Estate
Clevelander South Beach
Canadian group, Jesta Group, has purchased the Clevelander Hotel on South Beach for $20.6 million, according to The SFBJ.
The Clevelander was built in 1938 by architect Albert Anis and totals 42,315 square feet with 60 hotel rooms.
Future Urbanica Hotel Site
A 18,800 square foot lot in Edgewater at 3001 Biscayne Boulevard has been purchased for $7.95 million, according to The Real Deal.
The lot was purchased by Urbanica Management with plans to build an Urbanica Hotel with 220 rooms, 5,000 square feet of retail and a 7,000 square foot rooftop bar. The site is zoned for 36 stories.
Construction is expected to begin early 2019 and be completed in 18 months.
Brickell City Tower
The 33 story Brickell City Tower located at 829 SW 1st Avenue between Mary Brickell Village and Brickell City Centre has sold for $117 million, according to The Real Deal.
Built in 1985 and designed by Hatcher, Zeigler, Gunn & Associates, Brickell City Tower was originally supposed to have the top six floors as condos, but eventually became all office space.
For the longest time Brickell City Tower was the tallest building in the surrounding area before being recently surpassed by new buildings such as Brickell Heights, Solitair Brickell and Brickell City Centre.
Brickell City Tower was sold by Banyan Street Capital, Independencia Asset Management and Crocker Partners and purchased by New York Life Investors.
The building last sold for $70 million in 2013.
Site at 272 NE 34th St
A 37,000 square foot lot in Edgewater located at 272 NE 34th St has sold for $11.5 million, according to The SFBJ.
The lot was sold by Miami Sunrise Properties and purchased by 3350 Biscayne LLC.
The site is zoned for a 36 story building.
Monarc At Met 3
The 32 story Monarc At Met 3 located at 201 SE 2nd Avenue in Downtown Miami is listed for sale and could sell for over $200 million, according to The Real Deal.
Monarc at Met 3, with 462 apartment units, was developed by ZOM Living and completed in April 2016 after beginning construction December 2012.
ZOM Living purchased the air rights from MDM Group to build Monarc at Met 3, which also sits above a parking garage and a Whole Foods.
Construction photos of Monarc at Met 3 can be viewed here.
143 SW 9th Street in West Brickell
Habitat Group has purchased a 30,000 square foot lot in West Brickell located at 143 SW 9th Street, for $14.5 million, according to The Real Deal.
Currently on the site is a 5 story apartment building built in 1968. Habitat Group plan to demolish the building a build a 36 story building with 108 luxury condos, 60 hotel rooms and 12,000 square feet of ground level retail.
Construction is expected to begin within two years.
90 NE 11th Street
A 11,250 square foot building located at Downtown Miami at 90 NE 11th Street was sold for $16.53 million, according to SFBJ.
The building was sold by Miami Worldcenter developer Nitan Motwani and purchased by Chiron Investments.
