Wednesday, August 26, 2015

Prospective Developer Could Build Up to 60 Story Tower Across Brickell City Center

 
Brickell Development Site For Sale at $32.8M 
 A corner lot directly across from Brickell City Centre has been put up for sale, and its listing agent says the property has already brought in attention from international hotel brands. The property, at 90 Southwest Eighth Street, measures just under half an acre and is currently occupied by a three-story building that was constructed in the 1970s. What makes the lot attractive, and fitting of a $32.8 million asking price, is its zoning, since the property falls under T6-48B-O zoning in the city of Miami. That means a prospective developer could build up to a 60-story tower with 1,000 hotel rooms per acre or 500 residential units per acre. The property has been on the market for about three weeks, and since then there has been interest from national and international hotel brands. Their interest is fed by the site’s walking distance from Brickell City Centre’s shopping center with the possibility of erecting signage that would be visible from I-95.  A company titled 90 SW 8th Street Enterprises owns the property, which it bought for $750,000 in in 1993, according to Miami-Dade County property records. -* The Real Deal
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