Greystone picks up Edgewater land for $10M

2500 Biscayne Boulevard
2500 Biscayne Boulevard

A company tied to New York-based Greystone & Co. is the latest to make a land grab in Miami’s Edgewater neighborhood.

The Greystone company, 2500 Biscayne Property, paid $10 million for a mixed-use building at 2500 Biscayne Boulevard and seven vacant parcels totaling 0.87 of an acre, according to Miami-Dade County records. Several companies managed by David and Rochelle Sokol sold the properties to 2500 Biscayne. The transaction closed on Friday.

Sign Up for the undefined Newsletter

No financing was recorded.

Greystone is already planning a multifamily project near Miracle Mile in Coral Gables. It formed a joint venture with Miami-based Alta Developers and Strategic Properties to develop a 13-story, 119-unit apartment building with ground-floor retail space.

A Greystone spokesperson told the Daily Business Review the company intends to develop the Edgewater site with the same partners. Project details were not disclosed. [Daily Business Review]Eric Kalis