A development site in Miami’s Arts & Entertainment District near the condo building Canvas hit the market for $21 million.
The half-block property, at 1550 Northeast Miami Place, is in an Opportunity Zone. The Kluger family owns the 0.85-acre site, property records show. Jordan Gimelstein of Dwntwn Realty Advisors is listing the property.
Zoning allows for 427 residential units and up to 24 stories in height, plus more if a developer takes advantage of bonuses.
The land is also next to Miami Plaza, a 36-story tower at 1502 Northeast Miami Place that Melo Group is expected to complete this year.
Source: The Real Deal