Design District Development Site

Design District Development Site

50 NE 40th St, Miami, FL 33137, USA

Design District Development Site

Cushman & Wakefield is pleased to offer for sale a fee simple interest in the Design District Development Site (“Property”, “Parcels” or “Site”), consisting of 2.54 acres of land located in the heart of Miami’s thriving Design District, one of the nation’s most exclusive shopping districts. Notable retailers such as Hermes, Christian Dior, Louis Vuitton, Cartier and Gucci operate flagship stores within a short walking distance. The Property represents the largest remaining as-of-right development site in the Design District with current zoning allowing for the development of a mixed-use project totaling over 628K sf of floor area by right and featuring a combination of retail, office, hotel and multifamily uses. Adding to the appeal of this unique high-end development opportunity, the Parcels are situated in an Opportunity Zone. The Parcels are presently improved with 14 commercial buildings totaling 125k sf which can be leased on an interim basis to reduce carrying cost prior to redevelopment. This opportunity is being offered to the market by a lender at projected pricing that is roughly one-half the original developer’s basis in the Parcels.

 

Note: Renderings shown are based on prior development plans that were only conceptual and investors are not required to follow these prior designs.

Property Summary

GLA (SF)125,624

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