2699 Biscayne Paola

OFFERING MEMORANDUM

2699 BISCAYNE BLVD - EDGEWATER

PRIME RETAIL CORNER PLUS FUTURE DEVELOPMENT HIGH DENSITYMIXED USE SITE.

Exclusively Listed with Paola Vazquez del Mercado.

Icon BayBay House

Ion EastBiscayne Blvd

ParaisoBay

Land on Edgewater, Miami, FL 33137 Vazquez L 113

Crimson80 Units

Bay House Icon Bay <

Onyx on the Bay

Venetian

ION EAST

Facing Biscayne Blvd

26 Street

27 Street

41,554 sq ft of Land Biscayne Blvd Edgewater

Exclusively Listed By:

mailto:[email protected]

mailto:[email protected]


Exclusively Listed PAOLA VAZQUEZ

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.


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



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

Ion EastDevelopment150 Units

The Crimson99 units

401 NE 26 TERR 5,340 1,224 01-3230-020-0240____________________________________________________________ 404 NE 27 ST 5,280 2,336 01-3230-018-0280TOTAL: 41,554 sq ft



INVESTMENT HIGHLIGHTS

Advantages that 2699 Biscayne Blvd offers:

NIGHTLIFE AND SHOPPING: The site is right in front of Biscayne Blvd right in the middle of Edgewater, the new development area. Close to Midtown shops, the site will offer nightlife and shopping that is walking distance. (Four blocks)

ALLOWABLE USES: Mixed-use site development, corner right in the heart of Edgewater. Residential, retail, offices and hotel use.

RESIDENTIAL TIMING: The rental and Condo market in the Greater Miami Area has been increasing significantly in the past year. New and under construction residential projects are selling rapidly at prices of $600/SF.

DEVELOPMENT POTENTIAL: 482,570 SF with additional public benefit.

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.



AERIAL VIEWS

SUBJECT

BayHouse

ION EAST

The Crimson

ICON BAYBAY HOUSE

Crimson

Ion East

PARAISO



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



AMENITIES MAP

LOCATIONS

2699 Biscayne Blvd 1. Icon Bay 2. Paraiso Bay 3. Bay House4. Crimson on 27 st5. Biscayne Beach6. The Shops at Midtown7. Wynwood 8. Margaret Pace Park9. Resorts World10. Adrienne ArshtCenter 11. Museum Park12. American Airlines Arena 13. Port of Miami 14. Bayfront Park



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.



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.



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



More than 2,000 High End Residential Development within a few blocks under construction directly behind and side of Subject Sale. Delivery 2015 &2016.

BISCAYNE BEACH 399 city-beach-club residences

that t ake the coastal living concept vertical with 52 st ories of oversized balconies, floor-to-ceiling

windows, and limitless views of the bay and

down town. Located alongside downtown Miami,

on the shores of the ultra-chic East Edgewater

neigh borhood, barefoot elegance has found its new home at Biscayne Beach

399 Residential Units

PARAISO BAY premium luxury development by Related will bring an urban oasis to Miami. Residents and guest will experience their very own paradise with a park covering 5 acres along with 1000 ft of linear water views. Open-concept flow-thru contemporary floor plans featuring several choices of one, two, three and four bedroom residences delivered decorator ready for maximum flexibility in interior design. 690 Residential Units

BAY HOUSE features 38 floors and 164 exclusive

residences, glass balcony terraces with panoramic Bay

views. This residential development will also feature

versatile, expansive floor plans, including a 2/3 + Den,

3/2.5 + Den and 3/3. Is located East of Edgewater in the

heart of Miami, and is part of the hottest new

neighborhood where parks, galleries, restaurants and

shops are just a few steps away. East Edgewater is the

place where trends are created and the style of living is

defined. 164 Residential Units

Strategic Retail Corner potential for future AAA Tenants.



RESIDENTIAL DEVELOPMENTS

CRIMSON Where the un expected becomes

standard, and within 20 stories that encompass

only 90 exclusive units, a rare balance between

passion and reason has been mixed project in

residences, penthouses and townhomes.

Located in Edgewater, Miami’s hottest new

district, with shops, restaurants, cafes, and clubs

all nearby.

ICON BAY offering 40 stories and 300 units, Icon Bay is a private and exclusive luxury

condominium located in the heart of Miami. Designed by the world renowned architect

Arquitectonica, the Related group plans to build off the success of their flagship ICON line of

premium luxury condos. The Icon line has produced some of the world most magnificent luxury

condo towers such as Icon Brickell, Icon Vallarta, and Icon South Beach.

ION EAST EDGEWATER

Ion East Edgewater is a 36-story, eco-friendly, luxury condominium located in the heart of East Edgewater, Miami’s hottest new neighborhood, within minutes of the Wynwood Arts District, Midtown, the Design District, Brickell, the Downtown Arts and Entertainment District, Miami World Center and Brickell City Centre.ION will featuring 1, 2 and 3 bedrooms with 9’ft ceilings, Sky deck with panoramic views and rooftop pool, 75’lap pool on the 8th floor amenities deck with cabanas, massage area and outdoor summer kitchen. 150 Residential Units

Ion East is located right next to Subject for sale.

Exclusively with Paola Vazquez



RESIDENTIAL CONDO MARKET REPORT

Condo price indicators edged higher as days on market moved faster. Median sales price increased 4.3%

to $1,200,000 as the entry threshold expanded 12.1% to $762,000 from the prior year quarter. Days on

the market averaged 52 days.

*Elliman Report 3Q-2013



EDGEWATER PROJECTS



Biscayne Beach Paraiso Bay

Icon Bay

Crimson

Bay House



SALES COMPARABLES

# Address Lot Size in Acres Lot Size in SF Sale Date Sale Price $/SF

1 3601 BISCAYNE BLVD 0.82 35,783 11/27/2013 14,910,000$ 417$

2 4200 NE 2ND AVE 0.60 25,968 12/11/2013 8,800,000$ 339$

3 2521 BISCAYNE 0.32 22,400 02/18/2015 $ 15,000,000 $ 669



LOCATION

SUBJECT



4 BLOCKS OF MIDTOWN SHOPS



UNDER PLANS TO REMODEL

ICOAY

Strategic Retail Corner potential for future AAA Tenants.

125 Feet Fronting Biscayne with 11,144 sq ft of Retail

Corner East of 27 St entrance to 3 Developments Ion East, The Crimson and Bay House

ICON BAY

BAY HOUSE

The CRIMSONION

EAST



CURRENT PROPERTY PICTURES

Brickell Magazine – Jan 3/2013

With Income from current tenants.( under a 6 months notice from owner notice to leave) Lease $65.00 x sq ft fronting Biscayne.27 St Corner Side at $55.00/$45.00 x sq ft 5,000 sq ft

Replacement of Tenants AAA due to need to provide commercial to more than 2,000 residential units within 1 Mile

Documents

2699 Biscayne Paola