MIAMI-Africa-Israel, the Israeli-based company which took Miami by storm in 2004, when it began investing in the city’s real estate market, but which suffered major losses when the market turned, is marketing one of its last properties in Miami, a piece of land the size of a city block located behind the Marquis, one of its own developments, a condominium project with a boutique hotel on Biscayne Boulevard in downtown Miami. The condominiums were completed in 2008.

The vacant land, which has 63,000 square feet, according to Ryan Shaw, an associate in the Miami office of Marcus & Millichap who is marketing the property, has no entitlements, but it is zoned for mixed use, including office, retail and condominiums. The asking price is $4,495,000, or about $57 per square foot, says Shaw.

Africa Israel assembled the land over time, says Shaw. “It represents an excellent opportunity to build a parking garage with retail and entertainment or affordable housing,” he says. “There has been a lot of interest in the land and a handful of people are seriously looking at it,” he says.