One of the most talked-about latest acquisitions in Miami’s Real Estate world is the deal closed between the Spanish firm Espacio and Miami based residential construction giants: The Related Group. The property just traded is located at 1400 Biscayne Boulevard, where is now a low-rise office and retail building.
The plans that the buyers have for this $57.3 million and 2.8-acre site could not be other than the lifting of a project that will shape some more, the development of the city as a tourist and cultural destination, which will consist of three towers that will cover two million SQ. FT. of luxury residences and upscale shopping.
Related Group has been the main leader of the last residential construction boom in Miami. Its extensive portfolio includes Brickell Heights that started construction this year and will be completed in 2016, SLS Lux and Hyde Midtown that will begin construction this fall, One Paraiso (one of the four towers of Paraiso Bay complex in Edgewater) that hopes to break ground in November and many other projects ranging from Hollywood (Hyde Beach Hollywood) to Coconut Grove (Park Grove).
The location of what will be 1400 Biscayne is simply strategic as it is right between Brickell and the Design District, next to Museum Park, directly accross from the Arsht Center and just steps away from the Pérez Art Museum and the Frost Science Museum, becoming a new prime destination in the epicenter of the Miami we all dream of.
Taken from: Brannigan, Martha. “Related Group Unveils Purchase of 1400 Biscayne Blvd.” Miamiherald. 9 Oct. 2014. Web. 9 Oct. 2014.