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  #1  
Old Posted Sep 28, 2016, 11:56 PM
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MIAMI | 400 Biscayne | 571 FT | 49 FLOORS

Might be something to keep our focus on down the line. This could be a big one!!!

Zoning also allows for 80 floors and 1000+ units.

Brochure on the site: http://i.imgur.com/KNx5W78.jpg


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=====================

400 Biscayne hits the market, could sell for north of $60M: Zoning allows for 1,150 units, 1.8M sf and unlimited height, pending FAA approval


Quote:
The First United Methodist Church site in downtown Miami is now for sale, and could sell for north of $60 million.

The church currently owns and occupies 1.15-acre development site at 400 Biscayne Boulevard. HFF’s Jaret Turkell and Maurice Habif are listing the property unpriced, Turkell told The Real Deal, but expect that it will sell in the $60 million range.

The site has 305 feet of frontage along Biscayne, and is zoned under Miami 21 as T6-80, which allows for about 1,150 units, 1.8 million square feet and unlimited height, pending FAA approval, according to marketing materials. Allowed uses include hotel, residential, retail and general commercial.

“The really cool thing about it is it’s parallel to Biscayne, so the views will be spectacular,” Turkell told TRD.


The church, which has never been on the market, is looking for a buyer that will allow it to stay on-site until construction of a new project begins and is also requesting a 20,000-square-foot to 30,000-square-foot space in whatever is eventually built, Turkell said.

The 28,000-square-foot building, built in 1981, takes up about half the block including a paved parking lot. If and when it sells, the site joins a number of other churches, temples and other religious institutions to profit off of their land and move elsewhere in South Florida.

HFF will market the site for about a month and then have a call for offers, he said.

=======================
http://therealdeal.com/miami/2016/09...-north-of-60m/
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  #2  
Old Posted Sep 30, 2016, 5:32 AM
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^ Well the site at NE 4th. Street & Biscayne Blvd. doesn't have unlimited height, pending FAA approval, according to marketing materials.

They have already Zoned the site :


http://farm9.staticflickr.com/8218/8...aab90044_b.jpg

So a Supertall can rise there at least to 1,010 feet | 308 meters tall.
It would be nice to see two Supertalls (O B Plaza) rise on Biscayne Blvd. below NE 6th. street.
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  #3  
Old Posted Nov 5, 2016, 11:10 AM
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Property still on the market. I don't believe any buys as of yet.

HFF Properties: https://www.hfflp.com/properties/5442/400-biscayne.aspx

Teaser Pamphlet (with info this time): https://my.hfflp.com/GetDocument?BBA...e5uUXmxYKxVxoV


I'm going to speculate that this, if bought, will yield a design that will take advantage of the t6-80-O zoning, and will start u/c by late 2019, finish in 2021. Just as the cycle picks up. Right now I think developers will wait until 2018 (for several pipeline projects). Barring any catastrophic policies if Trump gets in, I think 2019 will be a strong year for Miami. If South America and Eastern Europe continue to stagnate, I think that will be good for Miami real estate in the next 5 years. Essentially jump starting the cycle again as wealth flows out. Brazilian and Russian buyers have fueled a lot of the Edgewater growth.

There's also the innovation district, which, if it attracts tech tenants, can bring 1000's of potential clients to the market.
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  #4  
Old Posted Jun 26, 2017, 10:19 PM
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OVERVIEW



Quote:
Spanning 1.15 acres and situated between billions of dollars in new development and infrastructure, 400 Biscayne represents the most exciting development opportunity in Miami today.

PROPERTY SUMMARY


Quote:
400 Biscayne is among the few remaining gaps in Downtown Miami’s Biscayne Boulevard skyline with permanently-preserved bay and ocean views across Bayfront Park. The Site’s position parallel to Biscayne Boulevard will enable an investor to configure development such that every unit benefits from these views.

400 BISCAYNE
MIAMI, FL

Under Contract
Property Type :
Land
Year Built :
n/a
Property Size :
1.15 Acres
=====================
https://www.hfflp.com/properties/5442/400-biscayne.aspx
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  #5  
Old Posted Jul 29, 2017, 6:15 AM
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Looks like we have a buyer. Looks promising as this parcel manifests into some tower(s).

Potential for 1.8 mil-sq ft, which even given the footprint, 1.8 mil is nothing to slouch about.

================================

PMG under contract to buy 400 Biscayne for $54M: sources

Quote:
Property Markets Group is under contract to purchase 400 Biscayne Boulevard for $53.6 million, sources told The Real Deal.

The New York-based developer is paying nearly $30 per buildable square foot for the property, sources said. The site allows for 1.8 million square feet of development.

PMG plans to build a two-phase project beginning with an apartment tower, according to PMG director Evan Shapiro. The second phase is to be determined.

First United Methodist Church is selling 400 Biscayne, a 1.15-acre downtown Miami site that allows for about 1,150 residential units and unlimited height, pending FAA approval, under its T6-8O zoning. It has 305 feet of frontage along the boulevard. It hit the market with HFF’s Jaret Turkell and Maurice Habif in September.

Turkell said HFF received 10 bids for the property north of Miami’s downtown core and near Bayside Marketplace. He declined to name the bidders.
The sale is expected to close during the fourth quarter of this year. As part of the deal, the church will get a roughly 20,000-square-foot space in the new building.
==========================
TRD
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  #6  
Old Posted Jul 29, 2017, 1:08 PM
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What about 300 Biscayne ? It seems to have gone underground of late.
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  #7  
Old Posted Jul 29, 2017, 1:20 PM
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Quote:
Originally Posted by Dale View Post
What about 300 Biscayne ? It seems to have gone underground of late.
It's going throught the process. Sales center if I recall was u/c. I'd imagine they are getting pre-sales underway, once they reach certain reserved units, they will start u/c process.
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Old Posted Jul 29, 2017, 4:40 PM
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Quote:
Originally Posted by chris08876 View Post
It's going throught the process. Sales center if I recall was u/c. I'd imagine they are getting pre-sales underway, once they reach certain reserved units, they will start u/c process.
And at last check, they're underway with their massive project in downtown FTL.
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  #9  
Old Posted Jul 29, 2017, 8:16 PM
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Yeah PMG has a good track record of getting projects rising. One of my favorite in Sunny Isles, Muse, was a success. Echo Brickell downtown is currently rising, and JDS in combination with PMG helped make Steinway aka 111 West 57th a smashing success. All currently rising.
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  #10  
Old Posted Oct 18, 2017, 1:10 AM
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Revealed: 690+ Rental Units Planned At 400 Biscayne



Quote:
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).”
=======================
NXT
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  #11  
Old Posted Jan 19, 2018, 1:21 AM
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PMG Buys 400 Biscayne For $55M, Will Build 690-Unit Tower

Quote:
PMG has closed on the purchase of 400 Biscayne.

The developer will build a 690-unit apartment tower as the first phase.

Previously, PMG said that the second phase may include a condo tower.

PMG Closes on their Latest Project- 400 Biscayne Boulevard for $55 Million

Financing for the deal was provided by Greybrook Realty Partners

MIAMI, FL- January 18th, 2018- Developer PMG, led by Kevin Maloney and Ryan Shear, is pleased to announce the acquisition of 400 Biscayne Boulevard for $55 million from the First United Methodist Church of Miami, Inc (FUMC). The first project on the land at 400 Biscayne will fall under PMG’s X Social Communities portfolio, which caters to modern professionals seeking a connected and convenient lifestyle at an attainable price in a downtown setting. The project will feature approximately 20,000 square feet of commercial space as well as over 690 units overlooking Biscayne Bay in the heart of Downtown Miami.

“This is our third investment in the Biscayne corridor, increasing our ability to create innovative living experiences for residents,” adds Ryan Shear, Principal of PMG. “We feel that this market is one of the most important areas of Miami from a future growth perspective, general location and view standpoint.”
======================
NXT
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  #12  
Old Posted Jun 29, 2018, 10:00 PM
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At 400 Biscayne, Plans For A 704-Unit Tower Advance

Quote:
Property Markets Group and Greybrook Realty Partners are moving forward with plans to build a massive apartment tower at 400 Biscayne.

The new tower will be part of PMG’s X Social Communities division, which offers high-tech and highly amenitized buildings, with larger common areas and smaller units.

The developers completed a deal with Miami-Dade County this week to bring water and sewer utilities to the site. According to the agreement, the project will include:

704 apartment units
20,508 house of worship
2,531 square feet of retail
1,091 square feet of fast food
A 27,984-square-foot house of worship currently on the site is being demolished, the agreement states. The developers have previously said that they will rebuild the First United Methodist Church, as part of their $55m purchase of the property.


Just one block away at 300 Biscayne, the developers are about to open the 464-unit X Miami, also a part of the PMGx portfolio. Miami New Times held their Best of Miami 2018 Party there last week.
======================
NXT
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  #13  
Old Posted Jul 17, 2018, 1:13 AM
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Fencing Installed At 400 Biscayne, Where 704-Unit Tower Planned

Quote:
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.
=====================
NXT
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  #14  
Old Posted Jul 23, 2018, 3:23 AM
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Quite disappointing that such a premier bayfront site zoned for a super tall is getting a tower at about half the size.
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  #15  
Old Posted Jul 23, 2018, 1:32 PM
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Looking at the map above, I had no idea that Miami had a pretty impressive street grid downtown.
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  #16  
Old Posted Jul 23, 2018, 1:57 PM
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This is somewhat a wasted potential. They probably should of waited a bit if they were concerned with their risk. Its often a bummer when a parcel has great potential size wise, and its downsized in its magnitude. But on the bright side, there's a lot of land that can offer similar returns.
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  #17  
Old Posted Jul 23, 2018, 5:12 PM
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I surmise that the developers are telling us that Miami's not ready for a supertall yet ...

https://www.thenextmiami.com/one-bri...s-complicated/
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  #18  
Old Posted Jul 24, 2018, 8:02 PM
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Plans For 750-Foot Tower On Biscayne Boulevard Submitted To FAA

Quote:
An application was submitted to the Federal Aviation Administration last month to build a 750-foot apartment tower at 400 Biscayne Boulevard.

According to the filing, the the building would top off at 740 feet above ground, or 750 feet above sea level. The application was submitted on June 12.

The FAA filing is one of several steps that developers PMG and Greybrook are taking to prepare for groundbreaking.

Last week, a Declaration of Restrictive Covenant in Lieu of Unity of Title was recorded with the county for the property, after being filed with the city. It allows the developers to obtain a construction permit.

Also last month, a partnership between developers PMG and Greybrook secured utilities from Miami-Dade County for 704 apartment units to be built at the site.

If built at 740 feet, it would become one of the top five tallest buildings in Miami, surpassing the under-construction One Thousand Museum tower.


....

Miami’s tallest buildings as of July 2018:

Panorama Tower (868 feet)
Four Seasons (789 feet)
Southeast Financial Center (765 feet)
One Thousand Museum (706 feet)
=======================
NXT
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  #19  
Old Posted Jul 25, 2018, 2:09 PM
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Quote:
Originally Posted by tdawg View Post
Looking at the map above, I had no idea that Miami had a pretty impressive street grid downtown.
It's not just downtown the city is pretty much gridded.


https://media.gettyimages.com/photos...ure-idAA014091
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  #20  
Old Posted Dec 18, 2018, 6:11 AM
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MIAMI | 400 Biscayne | 740 FT | FLOORS


= = = = = =


Demolition Underway At 400 Biscayne, Where 704 Apartments Planned

Quote:
Demolition is now underway at 400 Biscayne Boulevard, where one of Miami’s biggest apartment projects is planned.

Developers PMG and Greybrook Realty Partners are preparing to build a tower on the site that will top off at 740 feet above ground, or 750 feet above sea level, according to an FAA application.

The new building will have 704 apartments, according to a county utility filing.

Residents at the new 400 Biscayne tower will have access to premium amenities, including keyless entry, smart home features, and access to co-working space.

The building itself will have bars, restaurant, and retail. It will also include a 20,508 house of worship to replace a church currently on the site.

A second tower is also planned for the site, but details have not yet been announced.
==========================
NXT
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