Miami plot sells, rentals planned

A 15,900-square-foot vacant parcel off the Biscayne Boulevard corridor
has traded for $1.07 million. The unnamed buyer plans to build rental
homes on the property, which is located at 420 Northeast 36th Street in
Miami. It is zoned R-4, for multifamily high-density residential
building. Marcus & Millichap represented the seller, Biscayne 36th
Street Associates, who paid $375,000 for the plot in 2002, according to
public records. TRD