Court Ruling Allows Empire World Towers Site To Be Sold
Curious to see what happened to the Empire World Towers:
Site is to be sold
Court Ruling Allows Empire World Towers Site To Be Sold
After many years of being tied up in the courts, the site of the project known as Empire World Towers at 300 Biscayne Boulevard will be marketed and sold. A recent decision by the Florida Supreme Court allows for the sale process to begin.
Developers have nearly 50 condominium projects on the drawing board in South Florida, their solution to meeting a voracious demand for homes now that nearly all the inventory from the last housing crisis is gone, according to new data from Condo Vultures, a real estate consulting firm.
The preconstruction per-square-foot prices for the 46 projects range from $241 to $2,640, roughly the equivalent of levels in 2004 — the height of the development boom, Condo Vultures principal Peter Zalewski said Tuesday.
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That's what did it in the end. Not the money, not the music, not even the guns. That is my heroic flaw: my excess of civic pride.
The Capital at Brickell site in Miami's Brickell neighborhood is officially on the market.
The 2.78-acre site, at 1420 S. Miami Ave., has already been approved for 1.3 million square feet of development. Under Miami 21, the city’s zoning code, the owner can go back and ask for as much as 3.2 million square feet of development, according to Robert Given and Gerard Yetming of CBRE, who are marketing the property.
As a result of the potential for greater density, Given said the property could fetch more than $100 million.
That’s a price that would eclipse the $64 million Swire Properties recently paid for the 700 Brickell Ave. site. Swire can build 1.1 million square feet of development on the 1.55-acre site.
Yetming said the focus of a lot of development in the Brickell corridor today is on South Miami Avenue, a main thoroughfare through the neighborhood." Via SFBJ
* This property will probably sell soon as it is one of the last large parcels of land left in the Brickell district with close access to Metromover & Metrorail! The site is excavated but the project died during the real estate bust. For those who don't remember this is what the Capital at Brickell project was supposed to look like:
__________________ Miami : 62 Skyscrapers over 500+ Ft.|150+ Meters | 18 Under Construction.
I was SO disappointed that Capital didn't get built...I loved those two buildings....
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Chicago White Sox. 2005 World Series CHAMPS!
Michigan State Spartans! 2007 NCAA Hockey Champs!
Chicago Blackhawks!! 2010, 2013 & 2015 Stanley Cup Champs!!
New condo cycle's Bellini Williams Island crane coming down
Oscar Pedro Musibay
Reporter-South Florida Business Journal
One of the first condominium projects to start construction during the new residential cycle Bellini Williams Island is taking its crane down this week.
Developed by Martin Z. Margulies, the 25-story Bellini Williams Island is slated for completion in 60-90 days. After only a year and a half of construction, the 70-unit building will be one of the first luxury residential developments to be completed since 2008.
Margulies said the community’s first residents will be arriving in the fall.
In recent months, Bellini Williams Island has celebrated achievements, including the sale of the project’s pair of trophy penthouses and both Artefacto-designed model residences. Due to the success of sales at Bellini Williams Island, Margulies is also able to pay off his $80 million personal loan—which he used to finance the project.
Curious to see what happened to the Empire World Towers:
Site is to be sold
Court Ruling Allows Empire World Towers Site To Be Sold
After many years of being tied up in the courts, the site of the project known as Empire World Towers at 300 Biscayne Boulevard will be marketed and sold. A recent decision by the Florida Supreme Court allows for the sale process to begin.
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