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South Florida

Marcus & Millichap tapped to market vacant downtown Miami parcel

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Marcus & Millichap has the exclusive listing on a 1.58-acre land parcel on NE 1 Place and NE 1st Avenue in Miami, the firm announced. The listing price on the site is just under $10 million, according to Marcus & Millichap’s Ryan Shaw and Arthur Porosoff, who are representing the seller, a Miami-based limited liability company. “Many developers are looking to invest in new multi-family and mixed-use projects in this area,” Shaw said. The site is approved for a 31-story mixed-use tower. It is located at 1602-1621 NE 1st Place and 1604-1630 NE 1st Avenue. — Alexander Britell

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Downtown MiamiMarcus Millichap