Bay Harbor Islands developer Taubco has flipped a development site on Biscayne Boulevard for $16.16 million, according to Miami-Dade County records.
A Taubco affiliate sold the vacant land at 11150 Biscayne Boulevard in Miami. Companies tied to Hamden, Connecticut-based Belfonti Companies and Uniondale, New York-based Arbor Realty Trust are the buyers, records show. AMAC Holdings, a separate entity of Arbor, is the partial owner, a spokesperson told The Real Deal. AMAC would not comment on the sale.
The 5.8-acre property is zoned for commercial development, including a 186,201-square-foot hotel. It last sold for $3.28 million in 2012, according to Miami-Dade property records.
The 3.22-acre site directly north is also vacant and being marketed as a development opportunity. It’s listed for $8.95 million, according to Loopnet. And across the street, the 8-acre, vacant waterfront property at 11295 Biscayne Boulevard, was also marketed for sale as a development opportunity.
In May, an investment group led by Nancy Karp paid $2.7 million for the commercial building at 11601 Biscayne Boulevard, a few blocks north of 11150 Biscayne.