Dezer and Related are going 50/50 on the sweet oceanfront piece!
In the largest sale, a company called Dome Realty dropped $35 million for 11.3 acres at 1174-1185 Hillsboro Mile, which is zoned for multifamily and could house up to 168 units, the Business Journal reported.
Another nearly 1.5-acre chunk at 1103 Hillsboro Mile was scooped up by Paul and Carol Cutler, executives at green energy investment company Power Generations, for $8.25 million.
Deborah and Sean Acosta also paid $5.25 million for an acre at 1107 Hillsboro Mile.
In diffrent article theres- Dezer acquired the assemblage out of bankruptcy for $28.5 million in 2016.
The group also financed the total purchase with a $26 million loan from Bank OZK
Dezer sold the 12-parcel assemblage to Hillsboro Mile Property Owner LLC, a 50-50 partnership between Dezer and Related, for $30 million, according to Dezer and property records.
It is yet to be determined what the developers will build on the site. Dezer previously sought increased density and height up to 30 stories for the development site.
2.6-acre site at 3000-3020 Alhambra St.; 200 N. Birch Road; and 3009 Sebastian St , Fort Lauderdale
Oceanfront parcel approved for 159 unit with two towers!
159 condos and 5,150 square feet of restaurants in two towers of 26 stories each.
In the new proposal, the building would total 649,912 square feet, including 444,710 square feet of residential space, which units averaging 2,797 square feet. There would be 69 two-bedroom units, 67 three-bedroom units, and 23 four-bedroom units. The application said the project would cost $100 million.Kobi Karp Architecture designed 3000 Alhambra.
The developer acquired 2.2 acres of the property from the city for $25 million in 2017 as part of a land swap. It later bought out a neighboring condo building.
There would be an amenity deck on the fourth floor featuring two pools, a fitness room, a yoga studio, two massage rooms, a dog park, a party room and a business center.
There would be a fountain at the drop-off area in the entrance.
The eastern portion of the site would remain a public parking lot and receive enhanced landscaping. There would be 409 parking spaces, with 125 of them available to the public. The project would include one level of underground parking.
The village council voted last month for a development agreement with an entity managed by Barrington Brothers LLC, a local multifamily developer with projects in the Upper Eastside and Little Havana. As part of the agreement, Barrington, led by Arthur and Ken Barrington, will be able to build an eight-story structure with an option for two bonus stories.Read more
Fort Lauderdale-based Merrimac is now joined by Miami-based high-end apartment developer The Estate Companies. The 340-unit project, at 4 North Federal Highway, has been renamed Soleste Cityline, as in Estate Cos.’ Soleste brand of multifamily developments throughout South Florida, according to a press release. The project was originally called Trion at Dania Beach.Read more
Eighteen developers have expressed interest in building Class A office space on three municipal parking lots in Miami Beach adjacent to Lincoln Road between Alton Road and Meridian Avenue. The City put out a Request for Letters of Interest (RFLI) in November to test the waters as it seeks ways to diversify .Read more
The construction permit was filed. According to the filing, a total of 41,164 square feet of general commercial will be built over two stories.Read more
After three years of discussion, the owners of the iconic International Inn at one of the gateways to Miami Beach have reached agreement with the City to voluntarily designate the property historic in exchange for the right to build an 80-ft tall addition to the hotel. City Commissioners approved the agreement after deferring it for six months due to concerns about the hotel’s operations.Read more