A joint venture purchased one of the last remaining vacant lots on Biscayne Boulevard and is developing a luxury apartment community. The property was purchased for $15 million by a joint venture between Kolter Multifamily and Altman. Colliers Julian Zuniga and Gerard Yetming represented the seller, Blanca Investments, in the transaction. Construction is underway on the 3.23-acre parcel located at 11240 Biscayne Blvd.

Dubbed the Alton Biscayne, the luxury apartment community will feature 336 units. This development will comprise a 12-story residential building, a seven-story standalone parking garage, and eight townhome flats within a detached two-story building located along the western property line. Amenities will include a rooftop amenity deck, a golf simulator, arcade room, and saunas.

The project was designed by Cohen Freedman Encinosa and developed by Kolter Multifamily. KAST Construction serves as the general contractor.

Attend Connect Southeast Multifamily on December 4^th in Key Biscayne when the market experts share the playbook for where capital is moving next, and how the region’s power players are positioning themselves to stay ahead of the national curve. Be there to explore the opportunities, challenges, trends, and the future outlook for the multifamily landscape throughout Florida and the Southeast. www.ConnectSEMF2025.com