The project will consist of approximately 509 luxury rental apartments, 275,000 square feet of Class A office space, 25,000 square feet of ground-floor retail space, a 20,000-square-foot open-air retail plaza, and a parking garage.
Designed to provide a single-family home experience, the residences range from 3,300 to nearly 13,000 square feet and offer in-unit elevator access and a private parking garage with each unit.
The project is being designed by renowned architect Kobi Karp and will consist of 30 stories.
The property consists of six parcels with T6-36A-L zoning, which allows for the highest density and greatest variety of uses within Miami’s urban core, including 382,020 buildable square feet and a maximum height of 36 stories.
The parcels total ±19.4 acres.
Senior Managing Director Mitch Sinberg, Managing Directors Matt Robbins, Brad Williamson and Scott Wadler, and Vice President Hugo Hernandez of Berkadia Miami arranged the financing on behalf of Rental Asset Management, a property management company based in Oakland Park, which acquired the property for $31.1 million.
The project will feature 304 apartments, more than 18,000 square feet of retail, and 63,000 square feet of office space.
The developer recently announced plans for Evolve Wynwood, a 141-unit apartment building that will offer market-rate rentals in the Wynwood neighborhood.
The project consists of 188 rental apartments and 45,000 square feet of office space and retail space.
In the less than 24 hours since Bloomberg first reported the listing, investors from the U.S., Latin America, Europe, the United Arab Emirates and Canada have already expressed interest in acquiring the site.
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