400 Biscayne Blvd, Miami, FL 33131
$53,600,000 is what it took for Property Market Group to outbid ten other buyers for the Church property!
The 1.15-acre, downtown Miami site, allows for about 1,150 resi units and 1.8 million sf of mixed use and unlimited building height, pending FAA approval, under it’s T6-8O zoning. Wow, that’s a hot number. At this point, PMG owns a block, since recently topped Vice -464 rental complex next door is the same owner.
The church, as part of the deal, is getting 20,000 sq ft of space in the new project.
PMG plans to build a two-phase project, beginning with an apartment tower, according to PMG director, Evan Shapiro. The second phase is to be determined per The Next Miami.