![\"Placeholder\"\/](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/10\/placeholder.png\")
<\/p>\nA nearly 7-acre development site in Miami\u2019s Park West neighborhood is up for grabs for buyers willing to part with half a billion dollars or more.<\/p>\n
<\/p>\n
\n The parcel at 1151 NW First Ave.\n <\/p>\n
Marc Roberts Cos., led by Marc Roberts, and Lion Development Group<\/a>, led by Michael and Ron Simkins,\u00a0have tapped\u00a0CBRE<\/a>\u00a0to market the site, which\u00a0could be developed with thousands of apartments or condos\u00a0across more than 10M SF, for $500M.<\/p>\n The brokerage’s Robert Given<\/a>, Bradley Capas, Troy Ballard and James Quinn are representing the sellers, according to a release.<\/p>\n \u201cAt a price of $500M, we expect strong interest from a broad range of global investors and developers seeking to transform this site into Miami\u2019s next skyline\u2011defining mixed\u2011use development,\u201d Given said in a statement. \u201cThe premier location, scale and favorable zoning create a compelling urban placemaking opportunity.\u201d<\/p>\n The 6.6-acre parcel allows for the development of a massive mixed-use project encompassing office, retail, hotel and up to 6,602 residential units\u00a0if the buyer leverages\u00a0the Live Local Act<\/a>, which allows developers to bypass local zoning and density codes as long as at least 40% of their project is dedicated to workforce housing.<\/p>\n Current zoning allows for a 4.8M SF project and up to 3,300 residential or hotel units, Quinn told The Real Deal, which first reported the news<\/a>. Heights are limited to roughly 650 feet due to Federal Aviation Administration rules. The tallest tower in Miami is set to be the 1,096-foot-tall Waldorf Astoria Hotel<\/a> & Residences Miami developed by Property Markets Group<\/a>.<\/p>\n Lion and Roberts purchased the site at 1151 NW First Ave., adjacent to the $6B Miami Worldcenter and about a mile away from the Kaseya Center in Downtown Miami, in 2014 for $53M, according to property records.<\/p>\n Simkins said in 2018 that the site would be ideal for an office tower, hinting at landing Amazon<\/a> as a tenant when the tech giant requested proposals from cities<\/a> for a second headquarters location, the South Florida Business Journal reported at the time<\/a>.<\/p>\n But Simkins owned and planned to develop a total of 10.4 acres in the neighborhood \u2014 and he did.<\/p>\n About a five-minute walk away, Simkins co-developed E11even<\/a> Club Hotel & Residences and is building the E11even Club Residences Beyond with Marc Roberts Cos., PMG<\/a> and E11even Partners at 20 and 60 NE 11th St.<\/p>\n The developers are also building 38 West Eleventh Residences Miami, another Park West neighborhood project, with PMG.<\/p>\n The asking price for the vacant land is one of the highest in South Florida history and approaching the\u00a0state record set by Oak Row Equities<\/a>\u00a0and OKO Group<\/a>\u2019s $520M purchase<\/a> of a Brickell waterfront assemblage late last year.<\/p>\n","protected":false},"excerpt":{"rendered":"A nearly 7-acre development site in Miami\u2019s Park West neighborhood is up for grabs for buyers willing to…\n","protected":false},"author":2,"featured_media":236186,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[4283,105141,47724,105142,123,125,124,105140,105139,69711,77532],"class_list":{"0":"post-236185","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-miami","8":"tag-cbre","9":"tag-e11even","10":"tag-lion-development-group","11":"tag-marc-roberts-cos","12":"tag-miami","13":"tag-miami-headlines","14":"tag-miami-news","15":"tag-michael-simkins","16":"tag-park-west","17":"tag-pmg","18":"tag-property-markets-group"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/236185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=236185"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/236185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/236186"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=236185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=236185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=236185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}