Empire World Towers land could sell for $80M

Miami /
Jul.July 25, 2014 09:45 AM

The Empire World Towers site could be the next in downtown Miami to sell for an expensive price.

A court-appointed receiver’s report on HFF’s marketing efforts for the 300 and 330 Biscayne Boulevard land indicates a deal could be completed as soon as Aug. 10. PMG-CH Downtown Developers is said to be the highest bidder with an $80 million offer. The use of PMG in the company name hints at the involvement of New York-based developer Property Markets Group in the bid for the two-acre site, which is approved for the development of two 93-story residential towers.

Jailed father-and-son developers Mauricio Cohen Assor and Leon Cohen-Levy planned to construct Empire World Towers before last decade’s real estate crash. The project was halted after the Cohens were hit with tax evasion charges and sentenced to prison.

A Miami-Dade Circuit Court hearing to approve the sale is scheduled for Thursday, according to the Daily Business Review. Judge Lisa Walsh is presiding over the case. [Daily Business Review]Eric Kalis


Related Articles

arrow_forward_ios
Renderings of the approved tower
Lions Group NYC buys downtown Miami dev site to build apartment tower
Lions Group NYC buys downtown Miami dev site to build apartment tower
The Holiday Inn at 340 Biscayne Boulevard in Miami and attorney Linda Worton Jackson
Bankruptcy could lead to redevelopment of downtown Miami Holiday Inn
Bankruptcy could lead to redevelopment of downtown Miami Holiday Inn
Black Lion CEO Robert Rivani with SLS Lux Brickell (LinkedIn via Rivani, Facebook via SLS Lux Brickell)
Black Lion buys SLS Lux Brickell retail condo for $14M
Black Lion buys SLS Lux Brickell retail condo for $14M
Related CEO Jorge Pérez, President Jon Paul Pérez and the waterfront property (Related, CBRE)
Mexican firm buys former Related Group downtown Miami HQ for $24M
Mexican firm buys former Related Group downtown Miami HQ for $24M
Monarch Alternative Capital CEO Michael Weinstock and Citigroup Center (Getty, Citigroup Center)
Here’s what tenants pay at Downtown Miami’s Citigroup Center
Here’s what tenants pay at Downtown Miami’s Citigroup Center
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
Steven Witkoff and 700 North Miami Avenue (Google Maps)
Witkoff, Monroe pay $94M for site of canceled Marriott hotel at Miami Worldcenter
Witkoff, Monroe pay $94M for site of canceled Marriott hotel at Miami Worldcenter
Senior Vice President at CP Group Brett Reese with One Biscayne (CP Group, One Biscayne)
JV buys One Biscayne Tower in downtown Miami for $225M
JV buys One Biscayne Tower in downtown Miami for $225M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...