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2699 Biscayne Blvd - Edgewater Biscayne Blvd Ion East Icon Bay Bay House Paraiso Bay OFFERING MEMORANDUM 2699 BISCAYNE BLVD - EDGEWATER PRIME RETAIL CORNER PLUS FUTURE DEVELOPMENT HIGH DENSITY MIXED USE SITE. Exclusively Listed with Paola Vazquez del Mercado. Land on Edgewater, Miami, FL 33137 Vazquez L 113 Icon Bay Bay House < Crimson Onyx on the Bay 80 Units Venetian 26 Street ION EAST 27 Street Facing Biscayne Blvd 41,55441,554 sqSF OFft of Land LAND Land on Edgewater, Miami, FL 33137 Vazquez L 113 CONFIDENTIALITY OF THIS REPORT This is a confidential report on the subject property intended for your sole use to determine if you wish to express further interest in the subject property. The confidential report contains brief information about the property offered for sale. It is subject to changes that can appear at any time, and will replace all previously reported information. This report contains estimates, projections and information about the property, and the members, directors, executives, managers and employees related to the property or Fortune International Realty do not assume any responsibility for the information contained in this report, for the accuracy and its effects, to notify any changes on the information or this report, or for any decisions based on the information contained herein. All data on the property is provided for information purposes. Fortune International Realty encourages the recipients of this report to thoroughly review and independently verify to recipient own satisfaction that the data provided are substantially representative of the property and can be realized upon when considering any interest of said property. Recipient of this report acknowledges that he has been advised to seek the independent counsel of an attorney and/or an accountant to verify the information on the property and to examine any and all applicable documentation relevant to the transaction. The information contained in this report is confidential. The recipient agrees that he will not disclose any of the contents contained in this report without prior authorization from Fortune International Realty. Exclusively Listed PAOLA VAZQUEZ Land on Edgewater, Miami, FL 33137 Vazquez L 113 LAND DESCRIPTION OPPORTUNITY: OUTSTANDING LOCATION in Edgewater. The property is on Biscayne Boulevard and represents an incredible opportunity for development in the hottest rising area in Miami. Zoning allows commercial, office, hotel and multifamily use. Development opportunity for a 48+ stories and 150 living units per acre of land. - Multifamily use allows 150 units per acre; site can have 107 residential units. - Hotel use allows 300 units per acre, site can have 214 hotel rooms. UNIQUE LOCATION: Edgewater. On Biscayne Blvd right in the Corner of NE 27 Street. East of Biscayne Blvd on NE 26 terrace. Signalized intersection where 27th Street meets Biscayne Blvd. ZONING: 6405 CEN HIGH DNSTY BORDERS CB / T 6 -36A- O as per Miami 21 LAND SIZE: 0.95 Acres ESTIMATED DEV. UNITS: 150 Residential Units PRICE/DEV UNIT: $93,661 ASKING PRICE: Upon Request Land on Edgewater, Miami, FL 33137 Vazquez L 113 PARCELS DETAILS ADDRESS LOT SIZE BLDG SIZE FOLIO 2699 BISCAYNE BLVD 15,034 11,144 01-3230-018-0230 330 NE 27 ST 5 ,280 - 01-3230-018-0260 346 NE 27 ST 5 ,280 2,588 01-3230-018-0270 347 NE 26 TERR 5 ,340 1,265 01-3230-020-0230 ____________________________________________________________401 NE 26 TERR 5,340 1,224 01-3230-020-0240 404 NE 27 ST 5,280 2,336 01-3230-018-0280 TOTAL: 41,554 sq ft The Crimson 6 Homes behind 99 units subject with no views in between Bay House and The Crimson paid $1.250 mill for each 5,000 sq ft of Ion East land only no value or Development income in homes 150 Units 2014. Exclusively Listed PAOLA VAZQUEZ Land on Edgewater, Miami, FL 33137 Vazquez L 113 INVESTMENT HIGHLIGHTS Advantages that 2699 Biscayne Blvd offers: NIGHTLIFE AND SHOPPING: RESIDENTIAL TIMING: The site is right in front of The rental and Condo market in Biscayne Blvd right in the middle the Greater Miami Area has been of Edgewater, the new increasing significantly in the past development area. Close to year. New and under Midtown shops, the site will offer construction residential projects nightlife and shopping that is are selling rapidly at prices of walking distance. (Four blocks) $600/SF. ALLOWABLE USES: DEVELOPMENT POTENTIAL: Mixed-use site development, 482,570 SF with additional public corner right in the heart of benefit. Edgewater. Residential, retail, offices and hotel use. ACCESS: Exit from I-95 (towards Biscayne) right in the corner of NE 27th ST and NE 26th Terrace. Easy access from the Trolley and. Exclusively Listed PAOLA VAZQUEZ Land on Edgewater, Miami, FL 33137 Vazquez L 113 AERIAL VIEWS The Crimson Bay House ION EAST SUBJECT Ion East ICON BAY BAY Crimson HOUSE PARAISO Exclusively Listed PAOLA VAZQUEZ Land on Edgewater, Miami, FL 33137 Vazquez L 113 ZONING The site offers prospects the ability to develop according to Miami 21. Miami 21 is the City of Miami’s recently (2010) adopted overhaul to the zoning code. This code promotes a more sustainable and pedestrian friendly plan for the city, especially at the core. The site is zoned T6-36A-O which allows a minimum of 150 residential units per acre. Below is a map illustrating location of the site and the surrounding zoning. T6-36 ZONE BUILDING DISPOSITION LOT OCCUPATION BUILDING SETBACK a. Lot Area 5,000 sq.ft min; a. Principal Front 10 ft. min b. Lot Width 100 ft. min b. Secondary Front 10 ft. min c. Lot coverage 80% max. c. Side 0 ft. min; 30ft.min 1-8 stories 18,000 sq. ft. max. above 8th story Above 8th story floor plate for d. Rear 0 ft. min; 30ft.min Residential & Lodging above 8th story 30,000 sq. ft. max. floor plate for Office & e. Abutting T5 0 ft. min; 10ft.min Commercial 6th through 8th story 30ft.min. above d. Floor Lot Ratio (FLR) T6-36a: 12/30% 8th story additional Public Abutting T4 6 ft. min 1rst through Benefit 5th story e. Frontage at front setback 70% min. 26ft.min. 6th through f. Open space Requirements 10% lot area min. 8th story g. Density 150 du/acre max. 30ft.min. above 8th story Exclusively Listed PAOLA VAZQUEZ Land on Edgewater, Miami, FL 33137 Vazquez L 113 AMENITIES MAP LOCATIONS 2699 Biscayne Blvd 1. Icon Bay 2. Paraiso Bay 3. Bay House 4. Crimson on 27 st 5. Biscayne Beach 6. The Shops at Midtown 7. Wynwood 8. Margaret Pace Park 9. Resorts World 10. Adrienne Arsht Center 11. Museum Park 12. American Airlines Arena 13. Port of Miami 14. Bayfront Park Exclusively Listed PAOLA VAZQUEZ Land on Edgewater, Miami, FL 33137 Vazquez L 113 MIAMI NEW DEVELOPMENT DISTRICT Shops at Midtown. Midtown’s urban design is reminiscent of New York's SoHo district with a Miami twist. It’s a city feel with a city vibe. Midtown Miami presents sidewalks filled with boutiques, cafes, lounges, restaurants, and more. Art and culture are at the heart of this neighborhood, with special installations and exhibits adorning the streets in an urban meets chic, indoor-outdoor setting. Miami’s newest lifestyle and entertainment destination has officially arrived. Wynwood is home to over 70 galleries, museums and collections. It is consider as the Art District in Miami. The Wynwood Walls has brought the world's greatest artists working in the graffiti and street art genre to Miami. Exclusively Listed PAOLA VAZQUEZ Land on Edgewater, Miami, FL 33137 Vazquez L 113 Genting’s Resorts World one of the largest mixed-used projects of modern days in Miami. 30 acre waterfront land and a 4 billion dollar phased development. Perez Art Museum Miami already opened its doors to the public this past December. The site contains 200,000 SF along with The Patricia and Philip Frost Museum of Science, the sister installation is scheduled to open during early 2015. 29 acres and 500 million dollars to develop this site. Miami World Center is a nine block mixed- use development, which will create a dynamic and vibrant urban core of diversity and excitement with a blend of exceptional retail, restaurants, entertainment, hotels, residential and commercial offerings in one unique location. Exclusively Listed PAOLA VAZQUEZ Land on Edgewater, Miami, FL 33137 Vazquez L 113 RECENT HIGH RISE DEVELOPMENT The mix of large projects in Edgewater reflects the growing demand for condos. High-end condominiums, which were the key element of the housing bubble, are now once on top of the market. There are a number of projects that are currently under construction or are approaching shovel ready status. Of those properties that have already begun pre-sales, activity has been strong, with most properties selling over 90% prior to completion. Of the remaining for-sale developments, the delivery dates are several years away and expected to be well received by both users and investors. Project Name Project Address Total Units Stories Product Type Completion Paraiso Bay 600 NE 31 ST 650 53 Condo 2017 Crimson 601 NE 27 ST 90 20 Condo 2016 Bay House 516 NE 26 TERR 164 38 Condo 2014 Biscayne Beach 701 NE 29 ST 399 52 Condo 2016 Icon Bay 470 NE 29 ST 300 40 Condo 2016 TOTAL 1,603 Exclusively Listed PAOLA VAZQUEZ Land on Edgewater, Miami, FL 33137 Vazquez L 113 Strategic Retail Corner potential for future AAA Tenants. More than 2,000 High End Residential Development within a few blocks under construction directly behind and side of Subject Sale. Delivery 2015 &2016. PARAISO BAY premium luxury development by Related will bring an urban oasis to BISCAYNE BEACH 399 city-beach-club residences Miami.
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