Brickell co-op hits the market

Alta Developers offers to pay $65M, contingent on rezoning to allow 48 story-tower

TRD MIAMI /
Mar.March 02, 2018 04:30 PM

1430 Brickell Bay Drive (Credit: Avison Young)

A 13-story co-op building in Miami’s Brickell neighborhood has hit the market unpriced, and has already drawn an offer from Alta Developers’ Henry Pino.

According to the South Florida Business Journal, Pino has offered to pay $65 million for the 66,000-square-foot site at 1430 Brickell Bay Drive. But the offer is contingent on the city rezoning the property to increase the height limit to 48 stories, which would allow for 300 residential units. The property’s current zoning allows for 275 units in 12 stories, according to the publication.

The 98-unit co-op building along Biscayne Bay is listed with Avison Young’s Michael Fay, John Crotty and David Duckworth. More than 70 percent of the co-op owners said they would sell for the right price, according to the Business Journal.

Alta also developed the 19-story mixed-use rental tower at 2500 Biscayne Boulevard in Edgewater, and is developing the 13-story mixed-use project at 3900 Biscayne Boulevard, planned for the former home of ABC affiliate WPLG-10. [SFBJ] – Amanda Rabines


Related Articles

arrow_forward_ios
421 Northeast Sixth Street and Henry Pino

Alta scores $128M loan for Flagler Village apartments

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

Rattan Chadha, Executive Chairman & Founder of CitizenM

CitizenM scores $48M loan to build Brickell hotel

Daily Digest Miami

Last call for Purdy Lounge, Russell Galbut wants to sell another Miami Beach hotel: Daily digest

Smart Brickell and Santiago Vanegas

Habitat moves forward with West Brickell condo, hotel project

La Social’s original location at 7601 Biscayne Boulevard (Credit: Google Maps)

The Weekly Dish: La Social to open in downtown Miami, Salt & Straw is going to Wynwood 25 & more

Rendering of Virgin Hotels Miami and Richard Branson (Credit: Getty Images)

Richard Branson’s Virgin Hotels unveils plans for first Miami hotel, co-living included

Daily Digest Miami

PurduePharma family behind office purchase in downtown West Palm, Dwyane Wade wants out of Miami Beach manse: Daily digest

arrow_forward_ios
Loading...