Is official, Midtown 6 site in Midtown Miami sells for $27.9 million. Real estate investor Alex Vadia just sold the 2.14 acre site to a partnership between his company Midtown Development and Chicago based Magellan Development Group.
The companies announced the closing in a press release. Midtown 6 will be a 32 story luxury mixed-use building with 447 residential units and ground floor retail at 3101 NE 1st Ave.
Earlier this year, Magellan and Midtown Development opened Midtown 5, a 24 story tower with 400 units, 52,000 Sq. Ft. of amenity space, along with ground floor retail.
Midtown Miami is home to 4 luxury condominium buildings, including Hyde Midtown which is set for completion by the end of 2017. Midtown Miami is also home to the Shops at Midtown, which is located just a few steps from the Miami Design District and Wynwood Art District.