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Swerdlow permitted to negotiate Biscayne Landing lease

October 27, 2011 10:33AM

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Biscayne Landing
Michael Swerdlow’s Oleta Partners has won approval to start negotiations
on the 190-acre Biscayne Landing site, according to the South Florida
Business Journal. The property, of which Swerdlow was the original
developer, was eventually sold to Boca Developers. That company
ultimately forfeited the project back to the lender. Oleta’s plan
involves a $287 million payment to the city for a 99-year lease, and
another $17.5 million one-time payment when the lease begins. Swerdlow’s
proposal involves a mixed-use development including retail, an adult
living facility and 200 condominium units. [SFBJ]