Waterfront Miami Beach Site Hits Market

MIAMI—A 1.1-acre waterfront development site in Miami Beach just hit the market. The site was previously approved for an 80-unit, 14-story condominium with 18 proposed boat slips.

“There is clearly a resurgent condo market,” says Troy Ballard, vice president of ARA‘s South Florida Land Division, who has the exclusive listing on the land. “Yet the majority of this new development is located in Brickell and Downtown, where over 5,000 units are in active stages of development or construction. On Miami Beach, however, the number is less than 500 units. The small number of units is divided even further with oceanfront condos commanding well over $1,000 per square foot.”