North Miami Beach property approved for hotel development sells for $11.38M

The city has approved the 4.14-acre site on West Dixie Highway for a 10-story hotel with 260 rooms, but the hotel project never advanced to the construction stage

17400 West Dixie Highway in North Miami Beach (Credit: Google and PropertyShark.com)
17400 West Dixie Highway in North Miami Beach (Credit: Google and PropertyShark.com)

A vacant property in North Miami Beach approved for hotel development has been sold for $11.38 million.

The buyer paid $2.74 million an acre for the 4.14-acre site at 17400 West Dixie Highway in North Miami Beach, near Greynolds Park.

The city government approved a 10-story, 260-room hotel at the West Dixie Highway site, but the hotel project never advanced to the construction stage.

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The seller of the property was Braha Dixie LLC, managed by New York-based Ralph Braha.

Two buyers now share ownership of the 4.14-acre site. Dixie Investments, managed by Avi Dishi and Greg Manocherian in Miami Beach, acquired a two-thirds interest in the site, and New York-based Roe Dixie LLC acquired a one-third interest.

The site last sold in 2006 for $9 million. [South Florida Business Journal]Mike Seemuth