Rare downtown opportunity offers potential for luxury residential development in a global destination
MIAMI, FL / ACCESSWIRE / March 25, 2023 / The Urban Core Division, led by Mika Mattingly and Cecilia Estevez, proudly announces the availability of a prime Miami bayfront development site. Located at 400 Biscayne Blvd., in the heart of Downtown Miami, the site currently holds an 11,600 sq. ft. state-of-the-art sales center sitting on an 18,062 sq. ft. lot that claims over 157 ft. of frontage with unimpeded views of Biscayne Bay.
Mika Mattingly, Executive Vice President, states, "This is a rare opportunity to acquire a prime bayfront development site in the heart of Downtown Miami. The site is zoned T6-80-O, Miami's most intense zoning code, allowing up to 80 stories and 1,000 units per acre by right, with opportunities to increase both height and density through Miami21 Bonus programs."
The property has proposed plans by architect Sieger Suárez for a 74-story luxury condominium building consisting of 408 units. The site's liberal T6-80- O zoning code allows for 415 units by right and includes an additional 82 units transferred from the adjacent Elser development, bringing the total buildable units to 497.
Downtown Miami is rapidly becoming a global destination, attracting affluent individuals and some of the most prominent financial and tech-based companies in the world. The site is conveniently located near Miami's most prominent attractions and developments, including Miami Worldcenter and The Waldorf Astoria Residences.
The location is a tourist hotspot, attracting over 4 million tourists annually within a ½ mile radius. 400 Biscayne is strategically situated near the largest cruise port in the US and Miami's Brightline train station - a high-speed rail station that connects to Aventura, Boca, Fort Lauderdale, West Palm Beach, and Orlando.
This prime development site offers a unique opportunity for investors and developers to capitalize on the continued growth of Downtown Miami. Its close proximity to major attractions, transportation hubs, and a burgeoning financial and tech scene make it an attractive prospect for luxury residential development.
With its unparalleled location and zoning potential, the 400 Biscayne site is poised to become an iconic addition to the Miami skyline, further solidifying Downtown Miami's status as a global destination for affluent residents and tourists alike.
For more information about this rare development opportunity, visit 400biscayne-blvd.com or contact Mika Mattingly and Cecilia Estevez at the Urban Core Division.
About The Urban Core Division:
With a distinct focus on South Florida's dense urban markets, the Urban Core Division is a full-service commercial real estate brokerage providing sales and advisory services to owners, investors, and developers. Driven by powerful local neighborhood data and unrivaled industry connections, the team leverages its far-reaching network of professionals to position commercial properties for maximum market exposure. For additional information, visit 400biscayne-blvd.com.
Commercial Real Estate Broker
SOURCE: Urban Core