Development site in Miami’s A&E District asks $21M

Zoning allows 427 residential units to be built on the site

Miami /
Mar.March 04, 2020 03:30 PM
1550 Northeast Miami Place with Jordan Gimelstein (Credit: DWNTWNRealtyAdvisors,LLC)

1550 Northeast Miami Place with Jordan Gimelstein (Credit: DWNTWNRealtyAdvisors,LLC)

A development site in Miami’s Arts & Entertainment District near the condo building Canvas hit the market for $21 million.

The half-block property, at 1550 Northeast Miami Place, is in an Opportunity Zone. The Kluger family owns the 0.85-acre site, property records show. Jordan Gimelstein of Dwntwn Realty Advisors is listing the property.

Zoning allows for 427 residential units and up to 24 stories in height, plus more if a developer takes advantage of bonuses.

The land is next to Miami Plaza, a 36-story tower at 1502 Northeast Miami Place that Melo Group is expected to complete this year. The project will include 437 apartments and 7,000 square feet of ground floor commercial space. Melo is one of the most active developers in the A&E District, which is north of downtown Miami and south of Wynwood. In addition to the multifamily projects it is already working on, Melo paid $28 million in December for a development site between 18th and 19th streets, west of Biscayne Boulevard.

The Kluger family’s property is also near Canvas, NR Investments’ 513-unit condo building at 1630 Northeast First Avenue; and Filling Station Lofts, another NR Investments project, at 1657 North Miami Avenue.


Related Articles

arrow_forward_ios
Conway Commercial Real Estate's Thomas Conway with 8038 Northeast Second Avenue (Getty)
Thomas Conway sells Miami Little River multifamily dev site
Thomas Conway sells Miami Little River multifamily dev site
Mallory Kauderer and 5501 Northeast Second Avenue (The Porosoff Group, Twitter, Getty)
Churchill’s Pub in Little Haiti hits market
Churchill’s Pub in Little Haiti hits market
1600 Northeast Second Avenue (Loopnet, Getty)
Sabet buys development site in Miami’s A&E District
Sabet buys development site in Miami’s A&E District
Electra America's Joe Lubeck with rendering of Southplace City Center (Electra America)
Electra America JV plans $1B mixed-use redevelopment of Southland Mall
Electra America JV plans $1B mixed-use redevelopment of Southland Mall
Lissette Calderon with rendering of Fourteen Residences Allapattah (LinkedIn, Neology Development Group)
Lissette Calderon’s third Allapattah project scores $58M loan
Lissette Calderon’s third Allapattah project scores $58M loan
BTI Partners CEO Noah Breakstone and a rendering of the new building at 1747 Van Buren Street (BTI Partners)
Hollywood’s Bread Building redevelopment project scores $83M loan
Hollywood’s Bread Building redevelopment project scores $83M loan
900 South Federal Highway in Hallandale Beach (Loopnet, iStock)
Northlink Capital buys Hallandale Beach Opportunity Zone site for $26M, plans mixed-use project
Northlink Capital buys Hallandale Beach Opportunity Zone site for $26M, plans mixed-use project
The development site with Peter Gardner and Abbhi Capital's Sankesh Abbhi (Google Maps, Longpoint, Abbhi Capital)
Abbhi Capital, Peter Gardner pay $19M for Coconut Grove apartments dev site
Abbhi Capital, Peter Gardner pay $19M for Coconut Grove apartments dev site
arrow_forward_ios

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

Loading...