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.

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

May 2014

Date Sold

Currently owned by Turnbridge
Recapitalized in May 2015