The Real Deal Miami

Miami Design District property fails to draw a bid

Appraisals indicate the public high school property is worth $55 million
March 12, 2016 10:05AM

Design Architecture Senior High

Design Architecture Senior High

A bidding process for Design Architecture Senior High School in the Miami Design District produced no offers for the property despite its location in the tony, retail-rich area.

Appraisals of the school at 4001 Northeast Second Avenue for the Miami-Dade County public school system indicate the 40,600-square-foot site is worth $55 million.

But the bidding process closed this week without generating one response from a possible buyer.

“It is odd,” Jaime Torrens, the school system’s chief facilities officer, told the Miami  Herald.  “The market’s still hot, so we’ve got to figure out why somebody didn’t bid on it.”

Torrens also told the Herald that school system officials plan to “ask around” to determine the reason for the lack of interest in the high school property after the expiration of a “cone of silence” period, during which such discussions are prohibited.

The Miami-Dade school system wants to sell the property to raise funds for construction of  a new Design Architecture Senior High, a magnet school. [Miami Herald] — Mike Seemuth