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$23 Million Sale Clears Way for Prime Miami Development Opportunity
On behalf of court-appointed receiver Michael Goldberg, Avison Young’s Florida Capital Markets Group completed the $23 million sale of Biscayne 79. The prime development opportunity includes the former Immigration and Naturalization Service location at 7880 Biscayne Blvd. in Miami.
Avison Young Principals Michael T. Fay, who is also Managing Director of the firm’s Miami operations; Jay Ziv; John K. Crotty; David Duckworth; and Brian C. de la Fé completed the sale. The buyer was Miami-based B Group Capital Management.
Biscayne 79 includes a ±2.6-acre parcel with direct frontage to the hard corner of Biscayne Boulevard and 79th Street and a non-contiguous ±0.9-acre waterfront parcel along Little River. Both parcels are zoned for mixed-use, allowing for the construction of 500 residential units in addition to commercial uses across two towers built to a height of up to 12 stories, and a total buildable area of ±889,000 square feet.
- ◦Sale/Acquisition

