Related Group Pays $20M for Three Downtown Acres in Year's Biggest Land Deal

MIAMI-In the biggest land deal of the year and one of the largest in the last decade, One Miami Group has sold one third of its prime nine-acre Downtown tract to Related Group of Florida for $20 million or $6.7 million per acre ($153 per sf).

The remaining six acres are under contract at an undisclosed price to another big-name developer whose venture will complement Related’s enterprise, One Miami Group partner Larry DeGeorge confirms in a prepared statement.

“This (deal with Related) represents the culmination of several years of effort to bring together the right group with the vision to properly utilize this tremendous site,” DeGeorge says.