A 1.65-acre lot in Wynwood just hit the market and, according to The Real Deal Miami, it could go from $16 million to nearly $20 million because of the neighborhood’s hot status right now. The spot has been owned and operated for decades by a marine repair facility that is moving to Fort Lauderdale. The site’s zoning means it can accommodate developments of eight and 12 stories and 600,000 and 400,000 square feet, respectively, according to TRD.
Elsewhere in Miami real estate:
- Melo Group recently proposed the Miami Plaza, a downtown mixed-use, 35-story tower with 425 apartments, according to Next Miami. It also would have 508 parking spaces and more than 5,000 square feet of retail space. Miami Plaza is across the street from Square Station and Art Plaza, both recent developments from Melo Group.
- The Edgewater neighborhood is the site of a new proposed development from Kobi Karp, according to Curbed. The development, at 1775 Biscayne Boulevard, would have 200 hotel rooms, 444 residences, 140,000 square feet of ground-floor retail, 65,000 square feet of office space, about 27,000 square feet of multi-level commercial area, a 546-spot parking garage, a pool desk and a 7,700-square-foot rooftop solarium.
- The city is preparing for Art Basel, which kicks off on Dec. 7. Real estate professionals in the city often use the art festival as a chance to showcase unique properties. According to the Miami Herald, 77,000 people attended last year.