Prime Edgewater Building Site Hits the Market

A rare six-parcel site in the Edgewater area of Miami is being marketed with a $32 million asking price. Lee & Associates South Florida Principal Michael Hinton has the sales listing for the high-density development assemblage.

The 36,998-square-foot assemblage at 3350 Biscayne Blvd. has existing zoning approvals for a 172-unit high-rise development. However, its seller is in the process of applying for a significant density increase under the Live Local Act. Once that application is approved in the next few months, the eventual owner could build a 47-story, 499-unit tower with a mix of luxury and workforce housing units.

This location encompasses the Miami Design District, Edgewater, Midtown, and Wynwood. It is also situated south of the I-195 exit, Miami’s main east-west arterial highway, connecting Miami International Airport with Miami Beach. Edgewater is becoming Miami’s next vertical mixed-use neighborhood, following Brickell.