Three-Tower Development Site Trades for $13M

The site of a proposed three-tower project in North Miami Beach has traded for $13 million.

The transaction involved the 8,569-square-foot restaurant at 16375 Biscayne Blvd. and about 4.15 acres of surrounding land. The seller was Biscayne Cove LLC, managed by Enrique R. Puig. The buyer, Biscayne Park Development, is managed by Albert Benalloun and Hernan Gleizer, who lead Transamerican Development Corp in Miami Beach.

This acquisition represents a strategic purchase of developable land in the North Miami Beach area, positioning the buyers to proceed with their multi-tower development plans on the Biscayne Boulevard corridor property.