MIAMI—One of the last remaining prime development sites inDowntown Miami has traded hands. The two-acre site sits at 300-330Biscayne Boulevard.
HFF represented the seller, a trust establishedfor the benefit of CDR Creances S.A.S. Property Markets Group (PMG) purchased the assetfor $80 million.
Known as the Empire World Towers site, the lot spans about 2.04acres and is approved for the development of two 93-story towerswith 1,557 residential units. If developed to those specs, it wouldmake the tower the tallest structure south of Manhattan on the EastCoast of the United States.
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