fbpx

Former Burdines Property in Miami Nets $46 Million in Sale

The last significant development site attracting developers in downtown Miami’s Central Business District (CBD) recently sold for $46 million. The sale of the 92,972 square-foot development site, located at 16 SE 2nd Street, was facilitated by Colliers’ Urban Core Division.

“This is a pivotal site for the future of downtown Miami because it is a major location connecting downtown to Brickell,” says Mika Mattingly (pictured), Executive Managing Director of Colliers, an investment management company. “This deal represents the voracious appetite for downtown assets. We currently have 10 land deals under contract to close by year’s end, and there is little inventory left for the first time ever. This is unbelievable given the fact the downtown market went silent in 2019 and during the pandemic. The demand is being fueled, in part, by all the transformative projects that are just beginning to take shape in this area. It could not be a better time to invest in the future of downtown Miami.”

Wharton Equity Partners and Cross Lake Partners sold the site to Enrique Manhard, representing Estrella Perez of EP Realty Group Inc. as the buyer.

The site’s T6-80 zoning permits a height of 80 stories with several developments, including residential, hotel, office and retail.

A recent analysis from Miami’s Downtown Development Authority (DDA) showed Greater Miami Downtown’s population has 92,235 people living in the area in 2018, which was an increase of 38 percent since 2010 and a 65 percent jump from 2000 to 2010, according to a study from Miami’s Downtown Development Authority (DDA).

You May Also Like

Sticker Shock: Florida Home Prices Double in Just Six Years

Point2Homes, an international real estate search portal, released a revealing study.

Sales Launch for First-Ever Viceroy Residences in Miami

It is the ideal location for those who desire to be at the center of commerce and culture.

Groundbreaking of 2200 Brickell Commences

The 105-residence boutique luxury condominium will feature a wellness-oriented living experience.

2200 Brickell
Sales and Marketing Team Appointed for New Solina Bay Harbor

RedHoek+Partners are developing the boutique nine-unit building.

Other Posts

Icon Beach in Hollywood Begins Sales 

The latest Icon residences offer water views and access to a dedicated marina and full-service beach club.

Forman Capital Funds $54.56 Million Construction Loan for Domus FLATS at Brickell Park

The 172-unit in Miami’s Financial District represents the debut of a new condo-hotel brand.

Domus FLATS
Group P6 Finalizes Construction on Royal Palm Residences

The property features 48 luxurious boutique residences.

Real Estate Listing in Key Biscayne Features Rooftop Pickleball

Jorge Uribe with ONE Sotheby’s International Realty is the listing real estate agent.

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.