3900 Alton

Miami Beach, FL

Property Characteristics

  • Development of 78 residential condo units and 126,000 sellable square feet
  • Waterfront views of Biscayne Bay and Downtown Miami

Acquisition

  • October 2014

Investment Opportunity

  • Complex off-market transaction involving the simultaneous purchase of land and development rights from three separate parties
  • Highly desirable Miami Beach location

Execution

  • Hired a renowned European architect, Ricardo Bofill, to design the luxury condominium residences
  • Transferred an adjacent university’s unused buildable square footage to the acquired site to increase the size of the development
  • Presales launched Mar-2016

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