Site Planned For Office Building Fetches $12.5M

A 43,133 square foot property at 3333 Biscayne sold earlier this month for $12.5 million. In 2006, a 14-story Class-A office-condo tower was approved for the site, but it was never built.
The same buyer acquired a contiguous 11,500 square foot property for $2.2 million in late August, giving the new owner a total of 54,633 square feet.
The sale was completed as part of a 1031 exchange, and it isn’t clear who the ultimate owner is.
Source: exMiami