Last vacant lot on Ocean Drive listed for $14M

Miami /
Jul.July 17, 2015 12:00 PM

The last vacant lot on Ocean Drive in Miami Beach has been listed for sale, Metro 1 announced on Friday.

Miami-based Metro 1 is the exclusive listing agent for the property at 304-312 Ocean Drive. The 11,500-square-foot lot is zoned for medium-high density development, offers partial ocean views and access to the beach via Ocean Drive.

The site is on the market for $14 million, according to the MLS. 

Sea Spray Development owns the two lots. The LLC is tied to Yair Wolff, founder of Miami Beach-based W Capital Group. Wolff acquired the parcels in August 2013 for $6.3 million, according to Miami-Dade property records.

The South-of-Fifth property, which faces the newly completed 321 Ocean, includes plans for a luxury townhouse project. Revuelta Architecture designed the four 5,000-square-foot units, with plans for private rooftop terraces, luxury amenities and a smaller town house on the west side of the lot.

It was once home to the Biltmore Apartments, which were built in 1937 and destroyed by Hurricane Wilma in 2005, and the Sea Spray Apartments, also built in 1937 and demolished in 2014.

Developments in the ultra-hot neighborhood include 350 Meridian, Glass, Louver House, Marea South Beach, One Ocean and Three Hundred Collins.


Related Articles

arrow_forward_ios
 Jeff Blau and One Ocean (Getty)

Related Cos. CEO Jeff Blau sells Miami Beach condo

Related Cos. CEO Jeff Blau sells Miami Beach condo
Paul Lardi and 200-212 Collins Avenue (Linkedin, Alex Zylberglait/Marcus & Millichap)

South Beach property sells for $6M, buyer plans apartment-hotel

South Beach property sells for $6M, buyer plans apartment-hotel
Tudor House Art Deco and Essex House hotels (Wikipedia Commons)

Hotel height increases could be coming to Miami Beach’s Collins Avenue near Ocean Drive

Hotel height increases could be coming to Miami Beach’s Collins Avenue near Ocean Drive
Major Food Group's Jeff Zalaznick and the Design District location (iStock)

New York restaurateur Major Food Group to open three concepts in Miami

New York restaurateur Major Food Group to open three concepts in Miami
Lord Balfour Hotel

Mezz lender forecloses on Ocean Drive hotel in South Beach

Mezz lender forecloses on Ocean Drive hotel in South Beach
Cervera's new office at Murano at Portofino and Alicia Cervera Lamadrid (Cervera)

Cervera opens new Miami Beach office in South-of-Fifth

Cervera opens new Miami Beach office in South-of-Fifth
From left: Mick Duchon, Eloy Carmenate, and John Gomes, with Ocean Park

John Gomes buys Miami Beach pied-à-terre on Ocean Drive

John Gomes buys Miami Beach pied-à-terre on Ocean Drive
Three Hundred Collins

Three Hundred Collins allegedly marred by cheap materials, unpaid contractors and duped investors: lawsuit

Three Hundred Collins allegedly marred by cheap materials, unpaid contractors and duped investors: lawsuit
arrow_forward_ios

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

Loading...