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Breaking News: What Would Have Been the Most Expensive Florida Land Sale on Record Goes Down in Flames 

Lot owner Genting Malaysia is left holding the bag.

The 15.5-acre prime waterfront parcel carried a hefty price tag of $1.2 billion. Major Miami developers were interested—nine of them—all offering bids in excess of $1 billion. The Related group passed. Terra Group bit.  

It looked like the lot’s owner, Genting Malaysia, was finally going to unload the downtown Miami property it has held for more than a decade. 

But in the end, even the sky-high Miami development profile has its limits: The deal fell apart. Terra hadn’t specified how they would use the property, but the lot remains attractive due to its location and its mixed-use potential.  

According to the Wall Street Journal, “The number didn’t make sense, that’s all this is really a reflection of,” said Neisen Kasdin, an attorney at Akerman based in Miami who specializes in the development of complex, large-scale multiuse projects.

Photo credit: Alejandro Luengo

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.