The Real Deal Miami

Old development, new sales

A Related residential community from 2008 has sold 30 units in 30 days
October 17, 2014 04:30PM

Terrazas Miami

Terrazas Miami

Terrazas Miami, a two-tower luxury residential community on the riverfront, has sold 30 units in 30 days.

The 324-unit gated community is located at 1861 Northwest South River Drive next to E.G. Sewell Park and prices start in the mid-$200,000s.

“Many projects in South Florida right now are in the preconstruction phase, but at Terrazas, buyers can close immediately and either begin living at the property or using it for rental income,” Terrazas sales director Michael Sadov told GlobeSt. “In the past month, we’ve had some clients go from contract to closing in just six days.”

Related developed the property in 2008 and, more recently, the complex has benefited from a new greenway featuring a public pedestrian and bike path. [GlobeSt]Christopher Cameron