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Big Things Miami

By
Cashflow In Miami
on
September 17, 2021

62 Northeast First Street and 41 East Flagler Street, Downtown Miami

49 Northwest First Street, Downtown Miami

In his latest purchase, the two-story building on First Street was built in 1913 and spans 32,060 square feet, property records show. The three-story Flagler Street building was constructed in 1928 and totals 60,398 square feet. Two more buildings were bought for $27.2 million

The properties collectively sit on 0.9 acres between First and Flagler streets, just east of Northeast First Avenue. They last traded in 2014 for $11.5 million, according to a deed.

Miami Beach investor Andrew Mirmelli, manager of M&M Parking, sold the lot to Mana for $12,4 million. Through an affiliate of his parking lot company, Andrew bought the land for $3.9 million in 2013.

Mana is progressing on his long-anticipated plan to create a campus-like tech and cultural hub downtown. Mana’s vision is for startups and techies to set up offices there. Over the years, he also has said he plans residential units, a hotel, and a food and spice market.

Mana has started construction, including the renovation of the 13-story office building at 155 South Miami Avenue, which Mana will name the Nikola Tesla Innovation Hub. He bought this and the adjacent four-story parking garage at 26 Southeast First Street for $32 million in 2015.

In total, Mana has spent over $400 million on more than 60 properties spanning over 1.3 million square feet.

1177 Kane Concourse, Bay Harbor Islands

Terra buys the land for $31,5 million with development rights!

The purchase comes on the heels of the Bay Harbor Islands Town Council’s vote on June 9 to transfer the development agreement to Terra from the previous owner.

Sellers Northwood Ravin and Wharton Equity Partners’ Wharton Urban real estate investment platform in early 2020 won town approval to build 90 residential units, 98,800 square feet of office, and 14,900 square feet of commercial space.

Plan is for a residential, office and retail project, adding that there will be a “signature food and beverage” operator at street level.

136 NW 26 St.Miami FL 33127

Wynwood Atriums gets sold out before the completion.

All units are 1/1 with 440 & 450 sqft.

There is only one 2/2 unit, 615 sqft $445,250.00

HOA $315.00 for 1/1 units

It is a pre-construction project that is located at

BTI is planning to erect a 25 story tower !

1727-1745 Van Buren St., 1700-1716 Harrison St., and 1740-1760 S. Young Circle, Hollywood

The property last traded in 2013, when it was acquired out of bankruptcy liquidation.

BTI Partners plans to build a 25-story building with 362 apartments and about 16,000 square feet of commercial space.

BTI Partners are also planning a two-tower project on another site along Young Circle, we wrote about in another blog:)

Bread Building has been abandoned and sitting lonely for quite some time now.

56 SW 1st St and 65 SW 2nd Street, Downtown Miami

Land to be developed trades for $10 million!

The development site, which sold for $10 million will be home to The M Tower, an approved 53-story, 440-unit apartment tower.

M Tower will consist of 622,783 square feet of gross building area, with 25,732 square feet of office space and 1,089 square feet of retail. The development site also includes a parking garage owned by the Miami Parking Authority (MPA), located at 70 SW 1st St.

The 16,718-square-foot site includes air rights, waivers, and the ability to build residential units over the adjacent parking garage. The proposed units are targeted toward students and young professionals looking for a connected urban experience, currently the largest market of downtown residents.

M Tower will consist of 622,783 square feet of gross building area, with 25,732 square feet of office space and 1,089 square feet of retail. The development site also includes a parking garage owned by the Miami Parking Authority (MPA), located at 70 SW 1st St.

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