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  #1  
Old Posted Sep 28, 2016, 11:56 PM
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MIAMI | Elser Hotel & Residences (400 Biscayne Boulevard) | 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.

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http://therealdeal.com/miami/2016/09...-north-of-60m/
     
     
  #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.
     
     
  #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
     
     
  #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.

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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.
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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.
     
     
  #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.
     
     
  #8  
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.
     
     
  #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.
     
     
  #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).”
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  #11  
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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  #12  
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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  #13  
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.
     
     
  #14  
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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  #15  
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.
==========================
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  #16  
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/
     
     
  #17  
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)
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  #18  
Old Posted Dec 19, 2018, 1:33 AM
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Nice looking!
     
     
  #19  
Old Posted Feb 5, 2019, 9:05 PM
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1,088-Bed X Biscayne Now In The Works

Quote:
Work is now underway at X Biscayne across the street. It will be much bigger, the letter said.

X Biscayne will have 1,088 beds and will be completed on spring 2021. By comparison, X Miami has 638 beds.

X Miami was originally built with 464 apartment units, although some were converted to hotel use. A county utilities filing shows that X Biscayne will have 704 apartments.

X Biscayne will also be the biggest building yet for PMG’s X Social Communities, which now has 11 projects in 7 markets. X Las Olas, which is under construction, will be second with 923 beds opening spring 2020.

X Miami’s lobby bar and restaurant, Jaguar Sun, and sister café, Mockingbird, have opened to rave reviews and loyal followings, the letter said.
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  #20  
Old Posted Apr 8, 2019, 6:19 PM
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49-STORY TOWER PLANNED AT 400 BISCAYNE





Quote:
PMG and Greybrook have submitted plans to build a 49-story tower at 400 Biscayne Boulevard, across from Bayside Marketplace.

The new proposal is one block away from the recently completed X Miami tower, which was said to already be nearly full, just months after opening. X Miami offers shared living with a rent by the bedroom program, and the new tower appears to be designed for a similar concept.

As with 300 Biscayne, a portion of the property is being left vacant for a second tower (A 98-story Waldorf Astoria is planned at 300 Biscayne).

For the new tower at 400 Biscayne, gradient white, blue and clear fritted glass will rise 120 feet in the air from Biscayne Boulevard to clad the lower levels. Behind that will be a 12-story church (the First United Methodist Church is getting a new facility on its former land as part of the deal to purchase the property) and a parking garage with 527 spaces. White aluminum louvers and artistic murals will cover the remainder of the garage.

An amenity deck for residents is being built on level 9 and 10, including an oversized gym, spa, bar and lounge, and pool and beach areas. Three levels of co-working office space are planned above that.

Levels 14 to 47 will be residential, with a total of 646 apartments. More than half of those (340) will be studios, with the remainder 1, 2 and 3 bedrooms.

Clear glass with white frames will clad the office levels, while gray glass with dark gray frames and dark gray painted stucco will cover upper residential levels.

The roof of the tower will be at 539 feet tall, while the highest point including enclosure will be 573 feet above sea level.

Miami’s Urban Development Review Board is scheduled to review the proposal at a meeting on April 18.
============
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