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Florida & Gulf Coast  + South Florida  + Apartments  | 
Newgard Development Group has purchased three parcels in Miami, FL for its $1.5-billion three-tower residential and marina project on the Miami River.

Newgard Development Group Adds $7M of Land Purchases for $1.5B Development in Miami

Newgard Development Group has completed the $7-million purchase of three parcels to serve as the gateway to its $1.5-billion three-tower residential and marina project on the Miami River in Miami, FL.

Michael Fay, John Crotty, David Duckworth and Brian de la Fé of Avison Young represented the seller, a family trust.

The newly traded addresses (66 SW 6th Street, 625 SW 1st Avenue and 69 SW 7th Street in Brickell) total three-fifths of an acre and bring Newgard’s total land investment to for the project to $57.7 million. The company previously acquired a 1.6-acre riverfront property on 7th Street.

Newgard’s development will include the nearly sold-out Lofty Residences Brickell, a second branded multifamily building and a third branded condominium tower. The destination is positioned just northwest of Brickell City Centre and will span nearly 2 million square feet with 400 feet of frontage along the Miami River.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
  • ◦Development
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