The 2.24-acre rectangular parcel of land in downtown Miami has entitlement to 1,120 residential units in a mixed-use development.
The land fronts onto Southwest Second Avenue between Southwest Second and Third streets in Miami’s central business district, just north of the Miami River and the Brickell Financial District. It has favorable zoning under Miami 21 that allows for the development of a project up to 60 stories with transfer of development rights.
Few available properties enjoy the benefit of a total land area of 97,511 square feet – nearly an entire city block – and eligibility for more than 1.5 million square feet of construction. The site has convenient access to I-95 and I-395. Ytech acquired the property with a strategic partner in January 2015 for $21 million.