Property Description:
Mezz Lender Directed Sale of this Prime Development site in the Miami CBD.
Property will be sold to highest and best offer by Feb 15th. The Portico mixed-use development site is located at 1825 & 1837 NE 4th Avenue in Miami, FL. The property currently has an irrevocable major use special permit (MUSP).

The zoning designation for the property is SD-6 Central Commercial Residential District and the property is located within the Omni Overlay District, which allows a maximum, residential density of 500 units per acre. The proposed development consists of a parcel with a net lot area of 28,185 SF. The gross lot area is 53,515 SF and includes two small parcels of open green area owned by the City of Miami. As part of the liberal SD-6 overlay and having obtained its MUSP, a purchaser of this site can build any MIXED USE combination of CONDOS (324 units), OFFICE (449,526 SF) and/or HOTEL (648 units). One of the choice sites in Miami with this overlay, permitting unlimited height, a 7.2 FAR (not the standard 1.72) and 500 units (not the standard 150) per acre.
Current Plans are of a 43 story high-rise steps from the Bay & downtown Miami with a 332,763 sq-ft tower, w/ 324 unit

Location Description:
One of the choice sites in Miami with unlimited height, and a premium location steps from panoramic Biscayne bay. The Portico site is located in the Edgewater/Omni area of Downtown Miami. The property has easy access to I-395, I-95 and US-1 as well as close proximity to Biscayne Bay, Design District Downtown Miami and Midtown Mall, Margaret Pace Park and the new Performing Arts Center and City Ballet.

Zoning Description:
SD-6 Overlay; Largest density in the City of Miami. No height limit.