Available For Sale - Multifamily

622,783 SF

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AVAILABILITY DETAILS

Size
622,783 SF
Price/SF
N/A - Contact for Info
Listing ID
SA427376
Notes
Colliers International’s Urban Core Division is pleased to offer the opportunity to acquire the M Tower Development Site, an approved 53-story, 440-apartment tower project in the heart of Downtown Miami located at 56 SW 1st Street + 65 SW 2nd Street. The project includes an agreement with the Miami Parking Authority to build the tower incorporating the adjacent and existing MPA garage located at 70 SW 1st Street. The vacant lot encompasses 16,718 square feet and the MPA garage lot encompasses 28,910 square feet with T6-80-O zoning.



M Tower has obtained Urban Development Review Board (UDRB) approval through an extensive RFP process, ultimately providing additional air rights, waivers, and the ability to construct a residential tower over the adjacent Miami Parking Authority (MPA) garage. M Tower is a tremendous opportunity to capitalize on the existing parking structure and increasing number of young professionals and families flocking to Miami’s urban core.



M Tower is at the nexus of the office market, major mass transit, regional governmental and judicial centers, and the main campus of the largest community college in the country. It is home to the highest concentration of banks and financial institutions outside of Manhattan.



Downtown is emerging as the next trendy neighborhood. It is the hole in the doughnut, poised to be the next investment darling in Miami, with billions of dollars being spent on major infrastructure projects.Development opportunities in Downtown Miami continue to shrink as the current wave of growth expands.



o The M Tower Development Site is located in the heart of Downtown Miami just a short walk to Brickell and a few blocks away Virgin Miami Central Station, South Florida’s largest transportation hub, with easy access to I-95.

o M Tower has obtained Urban Development Review Board (UDRB) approval through an extensive RFP process, ultimately providing additional air rights, waivers, and the ability to construct a residential tower over the adjacent Miami Parking Authority (MPA) garage. M Tower is a tremendous opportunity to capitalize on the existing parking structure and increasing number of young professionals and families flocking to Miami’s urban core.

o The proposed M Tower project includes 440 apartment units, 25,732 square feet of shared office space, 1,089 square feet of retail space and luxury amenities such as a pool deck, state of the art fitness center, game and media rooms and event spaces.

o Please contact broker to obtain the Offering Memorandum
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Gerard Yetming, Colliers International