The Real Deal Miami

Swerdlow partnership obtains long-term lease at North Miami’s Biscayne Landing

May 24, 2012 11:15AM

Biscayne Landing

Michael Swerdlow, the original developer of North Miami’s Biscayne Landing, has received approval for a 10-acre lease at the property, according to the South Florida Business Journal. The deal, a partnership with the Lefrak Organization, which was approved by the city council in a 3-2 vote, includes a first phase featuring an 850,000-square-foot mall. As part of the transaction, North Miami will get an advance payment of $17 million. Swerdlow sold his portion of the property several years ago, and has since been working to win approval to redevelop the site. A previous lease proposal by Swerdlow was rejected by the city in March. [SFBJ]