Wednesday, November 6, 2013

High-Rise Development Site in Miami, FL Sells for $6.8 Million


High-Rise Development Site, 2701 SW 27th Court, Miami,

Larry Stockton
MIAMI, FL, November 5, 2013 - Colliers International South Florida is pleased to announce that Larry Stockton, Senior Vice President and Alex Morcate, Vice President Investment Analysis, represented G.P. Tower 27, LLP in the all-cash sale of a high-rise infill multifamily development site.

The Purchaser paid $6.8 million for the approved site, located at 2701 SW 27th Court, Miami, 33133. The site is situated just north of US 1 and Coconut Grove's boundary line, next to the Coconut Grove Metro Rail Station.

Alex Morcate
"The price reflects the value attributable to the fully designed and approved 192-unit residential tower that will be built on the site" said Stockton. 

"The purchaser should have great success developing the well-conceived and designed project, as it is steps from the Coconut Grove Metro Rail Station and is situated between The Grove, The Gables and Brickell."
   



For a complete copy of the company’s news release, please contact:

Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138

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