Matthew Rotolante

Sperry Van Ness South Closes On Mixed-Use Development Site For $4 Million

Sperry Van Ness South Commercial Real Estate Advisors represented the seller, Capital Bank, in the closing of this unique 8.39 +/- acre development opportunity located at 18411 Homestead Ave & 10235 SW 186 St. Matthew Rotolante (pictured left), the Managing Director of the Miami office, and David Loewy (pictured below), were able to navigate through multiple restrictive covenants, David Loewyspecial zoning requirement and development agreements to brokerage the deal with the buyer, Miami-Dade County for $4,185,000.
The development site is located in the Palmetto Bay / Cutler Bay sub-market of Miami-Dade County, within the Perrine Community Urban Center District (PECUC) zoning district and consists of four separate parcels with Homestead Avenue dividing the site. The site is designated as Mixed-Use Main Street (MM), which allows for up to 60 residential units per acre with a building height of up to 12 stories, allowing for over 500 total residential units. Miami-Dade County also has plans to build a park-n-ride.
This prime development site is located directly west of the busway, which runs parallel to South Dixie Highway (US-1) and between Eureka Drive (184th Street) and Quail Roost Drive (186th Street).
 

 

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