MIAMI | 400 Biscayne | 740 FT | FLOORS (1.8 mil-sqft potential) | PRO

38798 Views 10 Replies 6 Participants Last post by marcvader, Jul 25, 2018

anunnaki

Discussion Starter · Oct 28, 2017

Revealed: 690+ Rental Units Planned At 400 Biscayne

GREYBROOK REALTY PARTNERS MAKES AN INITIAL INVESTMENT OF CDN$40,484,720 IN A RESIDENTIAL DEVELOPMENT PROJECT WITH PROPERTY MARKETS GROUP IN MIAMI, FLORIDA
OCTOBER 12, 2017

Greybrook Realty Partners Inc. announced today the successful closing of an initial equity investment by its managed issuer of CDN$40,484,720. On the scheduled closing date, the investment proceeds will be used to fund the acquisition and development of a prime parcel of land located in Miami Florida. Together with its developer partner, Property Markets Group (PMG), the firm will develop the land into a mixed-use multifamily residence consisting of over 690 units and 20,000 square feet of commercial space at grade.

The property is located within Miami’s rapidly growing Downtown Miami neighbourhood at 400 Biscayne Boulevard. The planned development will feature unobstructed waterfront views of Biscayne Bay, Miami Beach, South Beach and the Atlantic Ocean. The development site, which is adjacent to Bayside Marketplace, Bayfront Park and American Airlines Arena, will provide future tenants with convenient access to public transit, including the Brightline intercity rail system and everything Downtown Miami has to offer. The future site of one of the largest private master-planned projects in the United States, the Miami Worldcenter, is located one block northwest of the development. The Miami Worldcenter is expected to bring over one million square feet of luxury retail, dining and entertainment to the area once it is completed. Greybrook and PMG are also currently developing a nearby property, located at 300 Biscayne Boulevard, into an ultra-luxury residential condominium.

“We are thrilled to partner once again with PMG on our third investment offering in the South Florida market,” states Peter Politis, CEO of Greybrook Realty Partners. “The region is experiencing a shortage of high-quality rental inventory as supply is unable to meet the growing demand for rental accommodation. We believe that 400 Biscayne will provide an attractive rental offering featuring luxury amenities and efficient floorplans that are well-suited to millennials and students of the nearby Miami Dade College (which does not provide housing facilities for local or international students due to lack of available land nearby).”

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prageethSL

· #2 · Jul 19, 2018

Fencing Installed At 400 Biscayne, Where 704-Unit Tower Planned

The First United Methodist Church has moved from 400 Biscayne, and fencing is being installed at the site this week.
Developer PMG is planning a two-phase project, with the first phase likely being a 45 to 50-story residential tower.
In January, the developer purchased the property for $55 million, with a new church to be built on the site as part of the deal.
The developer secured utilities for 704 units from the county last month for the new development.
A demolition permit has not yet been applied for.

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marcvader

· #3 · Jul 19, 2018

Kind of underwhelmed by this 45-50 story tower. By now, I'm kind of expecting any new proposals fronting Biscayne Blvd. being more exciting or at least have some substantial height.

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marcvader

· #4 · Jul 24, 2018

Plans For 750-Foot Tower On Biscayne Boulevard Submitted To FAA

https://www.thenextmiami.com/plans-for-750-foot-tower-on-biscayne-boulevard-submitted-to-faa/

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spellbound

· #5 · Jul 24, 2018

marcvader said:
Kind of underwhelmed by this 45-50 story tower. By now, I'm kind of expecting any new proposals fronting Biscayne Blvd. being more exciting or at least have some substantial height.

Yeah...not terrible or anything (not at all) but nothing really exciting, either.

I think I'm just "condoed out" at this point. Man, it would be so nice to see just ONE true office tower with impressive height going up...just think it would add so much to the skyline...but everything seems interminably delayed or in the case of OBP maybe not happening at all anymore. I totally get it, you can't make office demand materialize out of thin air...but it's still frustrating.

All of which had absolutely nothing to do with this project, lol. I'm just venting.

And, yes, "condoed" is now a word. Because I said so. :cheers:

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Dale

· #6 · Jul 24, 2018

I kind of like it. I suspect that it will look like the tallest in the CBD from the bay.

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spellbound

· #7 · Jul 25, 2018

Dale said:
I kind of like it. I suspect that it will look like the tallest in the CBD from the bay.

Its fine...didn't want that to sound like I thought it was anything really poorly designed.

Like I said, I think it's just balcony fatigue or whatever with me.

"Balcony fatigue" is also a thing now. :lol:

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Dale

· #8 · Jul 25, 2018

spellbound said:
Its fine...didn't want that to sound like I thought it was anything really poorly designed.

Like I said, I think it's just balcony fatigue or whatever with me.

"Balcony fatigue" is also a thing now. :lol:

Sounds perilously close to Balcony Derangement Syndrome.

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spellbound

· #9 · Jul 25, 2018

^^I think that's when people throw their TV's over them. Admittedly a tempting thought sometimes...:lol:

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dempsey6

· #10 · Jul 25, 2018

Amen to balcony fatigue. This doesn't look bad but its just so generic for Miami.

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marcvader

· #11 · Jul 25, 2018

That podium though

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