“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
It wasn’t so long ago that Miami’s Edgewater neighborhood was a faceless, unappreciated section of the city, known for disjointed streets and deteriorating homes and apartment buildings. But as neighboring areas such as Wynwood, the Design District, and the Arts District enjoyed massive redevelopment and rebranding success, the neighborhood bordered by Biscayne Bay, the Florida East Coast Railway, 17th Street and 37th Street suddenly caught on as fertile ground for high density development. We explore the new identity and innovative developers breaking ground in Edgewater in this edition of South Florida by the numbers.
62
Number of stories in each of the two towers at Melo Group’s planned Aria Reserve, making it the tallest dual-tower waterfront residential project in the United States upon completion. As part of the project, the highly successful public baywalk that runs along the eastern border of Edgewater will be extended. [TheNextMiami]
Two (Roads)
Name of local developer partnering with the Edition brand for the first of a three-tower luxury condo project. This tower will have 185 units and 55 stories, with units starting at $1.7 million. While this Edition Residences project will not have a hotel component, it will have six guest suites that owners can reserve. [TheRealDeal]
$12 million
Total price paid by SB Development and Hazelton Capital Group for all 13 units at the Belmar Condominium at 419 Northeast 19th Street, an average of $923,076 per unit. This potential development site would be the pairing’s second in Edgewater in as many years, having also bought a five-bedroom house at 480 Northeast 29th Street and two adjacent vacant lots for $12.2 million. [TheRealDeal]
1.4
Acres of land in an assemblage recently purchased at 1851 Northeast 2nd Avenue by developer Rotem Rosen for $30 million. The property currently includes a supermarket, a preschool, and a vacant lot. The previous owners paid $5.6 million for the parcels between 2011 and 2014. [SFBJ]
109,643
Square feet of office space (in addition to 6,122 square feet of commercial space and 399 units) that will be available in a new mixed-use residential tower recently approved unanimously by the Miami Urban Development Review Board. Developer 2600 Biscayne Property LLC is proposing the 40-story tower at 2626 Biscayne Boulevard, in the heart of Edgewater. [MiamiToday]
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.