Bids Are In: Former Miami Herald Site Could Sell For Nearly $1.5 Billion
March 27, 2023
The former Herald site in downtown Miami is attracting significant interest from developers, according to Bloomberg.
Bids are coming in at prices which could set a U.S. record for a development site, listing broker Michael Fay told the news service.
The highest bid came in at just under $1.5 billion.
A total of five of the bids exceeded $1 billion, Fay said.
Based on those bids, the property could become the most expensive development site in the country, Fay added.
Bids are coming from both international and domestic developers.
The Miami Herald’s parent company sold the property to Resorts World Miami LLC in 2011 for $211,812,040.
https://www.thenextmiami.com/bids-ar...r-nearly-1-5b/
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