Bugatti Makes Its U.S. Branded Residences Debut In Miami
The 60-story tower will feature 183 residences, including four signature penthouses, and more than 300 feet of frontage along the Miami River.
The 60-story tower will feature 183 residences, including four signature penthouses, and more than 300 feet of frontage along the Miami River.
The 24-story development will comprise 333 luxury condominium residences and a retail component anchored by a new 36,000-square-foot Publix Super Market.
A major downtown Miami development site has changed hands only months after its previous acquisition, with new investment partners and a mixed-use project planned for the property.
The property occupies an entire city block.
The sale equates to roughly $281 per square foot of land.
A proposed redevelopment near Opa-locka City Hall could bring housing, retail, hospitality, education and community services to six publicly owned parcels, marking a major investment in the city’s downtown core. The overall development has been valued at approximately $532 million.
The site was acquired from Two Roads Development and Newgard Development Group.
The financing is reportedly the largest HUD loan issued in Florida, as well as the largest multifamily loan approved by HUD’s Southeast regional office and the biggest HUD transaction completed by Dwight Capital.
JLL represented the borrower in securing the three-year loan through S3 Capital.
At approximately $90,000 per unit, the site’s per-unit pricing is the highest ever paid for a South Miami development site.
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