Miami: 6th & Washington Assemblage

 

Address : 601-685 Washington Avenue, Miami Beach, FL
Submarket : South Beach
Size : 232,476 square feet
Type : Hotel/Retail/Parking Development
Date Acquired : June 2015
Date Sold : Currently owned by Turnbridge

The 20-parcel assemblage located between 6th and 7th street on Washington Avenue was acquired over a 12-month period ending in June 2015. During the 12-month acquisition process, Turnbridge led a rezoning effort with the City of Miami Beach geared toward revitalizing the Washington Avenue corridor. By way of assembling a critical mass in a corridor that was prime for gentrification and rezoning the Washington Avenue Corridor, Turnbridge was able to add substantial value to the property. The assemblage will be developed into a mixed-use building consisting of a boutique hotel and over prime luxury retail.

 

 

 

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