Executive Summary - 250 SW 8 Street - Nov 3'21

242 and 250 SW 8 Street_________________________________________________________________ Miami, Florida

FOR SALE

Unique Lot in the center of Brickell at 242 and 250 SW 8th Street to Build a World Class Project with 96 residential or 192 hotel units plus retail

Sale Price $ 14,977,000

2666 Brickell Avenue Miami, FL 33129

Exclusively Listed with Alfonso Jaramillo

[email protected] 305.856.2600 305.975.5020


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 it’s 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.


TABLE OF CONTENTS

1. ABOUT THE PROPERTY

2. LOCATION

3. SUMMARY OF AREA DEVELOPMENTS

4. RECENT NEWS


PROPERTY INFORMATION ADDRESS 242 and 250 SW 8 St, Miami, 33130 TAX FOLIOS 01-0205-080-1031 01-0205-080-1040 DESCRIPTION Unique Land LOCATION Center of Brickell TOTAL LAND AREA 21,000 SF ZONING T 6 – 24 O FLOOR LOT RATIO 7 GROSS DEVELOPMENT 147,000 SF GROSS DEV. W/ 25% BONUS 183,750 SF RESIDENTIAL UNITS 96 OR HOTEL KEYS 192

ASKING PRICE $ 14,977,000 PRICE / RESIDENTIAL UNIT $ 156,010 PRICE / HOTEL KEY $ 78,005 PRICE/SQFT $ 713


PROPERTY DETAILS

LOCATION The land is ideally located between East Little Havana, The Miami River, Downtown and Brickell, setting it as a unique destination within the hottest markets in Miami Dade.

Demand for residential, hotel and

short term rental units in this area has significantly benefit from Brickell a worldwide unique destination for business and leasure. Brickell Citi Centre has been a magnet for both business and tourism since incepction. Several office, rental, hotel and condominium projects are currently being developed in Brickell.


LOCATION

The development opportunity is ideally located at the entrance to Brickell on SW 8th Street

Subject


UNIQUE LOCATION CLOSE TO MAJOR DEVELOPMENTS

Subject Property – 21,000 SF for 96 Residential or 192 Hotel Keys

Brickell Citi Centre

Brickell Heights

SLS Lux

Solitair Brickell

Chetrit

Finvarb/Metro 1 Properties

Metrorail Station


LOCATION

Significant frontage on SW 8th Street


PROPERTY SITS ON THE MIDDLE OF THE BRICKELL GROWTH EXPLOSION

$10 BILLION of Real Estate Value Created in the last 7 years!!!


SUMMARY OF FUTURE AREA DEVELOPMENTS

Below find a description of several projects in the Miami River/Downtown/Brickell corridor located less than 0.25 miles of the development opportunity.

• Brickell Citi Centre o 700 + Residential Units o 300 + Hotel Uniques o 500,000+ Retail component o Medical Centre o Office Building

• Key International – Condo Church Tower

• Michel Stern – One Southside Tower

• Related – Baccaratt Hotel and Residences

• Chetrit’s - Miami River Project

• Newgard – Lofty, Hotel and Rental River Project

• TSG/Eichman – Continuum 2.0


Brickell church votes to sell waterfront land to developer for condo tower

Key International reportedly partnering with 13th Floor

Miami /

October 27, 2021 12:00 PM TRD Staff https://therealdeal.com/miami/2021/10/27/brickell-church-votes-to-sell-waterfront-land-to-developer-for-condo-tower/?utm_source=internal&utm_medium=after_article&utm_campaign=related_article

An up to 80-story condo tower could rise on one of the few remaining waterfront lots in Brickell, after members of the church that owns the land voted to sell part of the parcel.

The majority of First Miami Presbyterian Church members agreed to hammer out a deal with developer 13th Floor Investments for the parking lot as well as the elementary and middle school behind the church at 609 Brickell Avenue, the Miami Herald reported. The church would receive about $240 million.

Brickell-based 13th Floor, led by Arnaud Karsenti, has developed throughout South Florida and beyond, with projects including the 387-unit, 50-story 1010 Brickell condo.


Swire sells Brickell City Centre hotel for $174M, and nearby Conrad Miami trades for over $100M

Swire Properties had been marketing 352-key East hotel prior to the pandemic Miami /

November 01, 2021 06:44 PM

By Katherine Kallergis

https://therealdeal.com/miami/2021/11/01/swire-sells-brickell-city-centre-hotel-for-174m-and-nearby-conrad-miami-trades-for-over-100m/?utm_source=internal&utm_medium=after_article&utm_campaign=related_article

Two Brickell hotels sold for more than $100 million each, including the $174 million sale of East, Miami, as hotel investment sales in Miami continue to ramp up.

Hong Kong developer Swire Properties sold the 352-key East, Miami hotel to a joint venture of funds managed by Trinity Fund Advisors and funds managed by Certares Real Estate Management, according to a press release. The 40-story hotel had been marketed for sale prior to the pandemic, sources told The Real Deal.


JDS Development Group’s Plan For 1 Southside Park In Brickell

https://floridayimby.com/2021/04/jds-development-groups-plan-for-1-southside-park-in-brickell.html

Back in January 2021, renown real estate developer JDS Development Group announced a 2.5 million-square-foot project in the Brickell neighborhood of Miami now known as 1 Southside Park. Addressed as 1133 Southwest 2nd Avenue, the structure is anticipated to rise up to 60-stories and top out at 780-feet, serving as a mixed-use skyscraper of multiple purposes. Based in New York, the developer is notorious for building iconic, one-of-a-kind and sometimes recording breaking buildings such as 111 West 57th Street, 9 Dekalb Avenue and the American Copper Buildings. Let’s dive in to the details of this new mega project set to take its spot in the Brickell-Miami skyline.


Harvey Hernandez plans three-tower project on riverfront Brickell site

Miami / September 15, 2021 06:00 PM By Katherine Kallergis https://therealdeal.com/miami/2021/09/15/harvey-hernandez-plans-three-tower-project-on-riverfront-brickell-site/

Developer Harvey Hernandez paid $50.5 million for a riverfront site near Brickell City Centre, where he’s planning a three-tower residential and marina project.

An affiliate of his Newgard Development Group closed on the 1.6-acre property at 99 Southwest Seventh Street in Miami. It secured a $55 million loan from 3650 REIT, a Miami-based lender that is affiliated with the development firm Grass River Property.


Chetrit scores $15M for Miami River $1B mixed-use project Loan adds to previous $55M financing for long-planned 6-acre development Miami /

March 22, 2021 02:45 PM

By Lidia Dinkova https://therealdeal.com/miami/2021/03/22/chetrit-scores-15m-for-miami-river-1b-mixed-use-project/

The Chetrit Group is pushing forward with its long-planned mixed-use Miami River mega-project, as it just scored a $15 million construction loan, bringing its total financing to $70 million. The city of Miami approved Chetrit Group’s $1 billion project in October 2015. The plan is for a five-phase development that ultimately will deliver a 330-key hotel, 1,700 residential units, 266,000 square feet of retail and office, and more than 2,000 parking spaces.


Related to partner with Baccarat on major Brickell high-rise development

Multi-tower project would have up to 1,400 resi units, hotel, office and retail

Miami /

February 04, 2021 06:00 PM

By Katherine Kallergis https://therealdeal.com/miami/2021/02/04/related-to-partner-with-baccarat-on-major-brickell-high-rise-development/

The Related Group is planning a Baccarat-branded three-tower development in Brickell with up to 1,400 residential units, The Real Deal has learned.

The Miami-based developer would build the high-rise project on the property at 444 Brickell Avenue, where it previously planned to build One Brickell, according to marketing materials obtained by TRD.


Continuum 2.0? Bruce Eichner teams with TSG to develop Brickell tower

70-plus story condo tower would include retail and office space Miami /

December 11, 2020 10:30 AM

By Katherine Kallergis

https://therealdeal.com/miami/2020/12/11/continuum-2-0-bruce-eichner-teams-with-tsg-to-develop-brickell-tower/

Continuum South Beach developer Ian Bruce Eichner is joining TSG Group and its partners to develop a luxury condo tower in Brickell, The Real Deal has learned.

Documents

Executive Summary - 250 SW 8 Street - Nov 3'21