3811 Shipping Avenue

Miami, FL

Property Characteristics

  • 1.02 acre development site of 153 rental units and 15,000 sf of retail
  • Located in an untapped micro-neighborhood adjacent to Merrick Park and Coral Gables, one of Florida’s most affluent communities

Acquisition

  • May 2017

Investment Opportunity

  • Off-market transaction at an attractive cost basis
  • The site offers the prestige and amenities of adjacent Coral Gables, while benefiting from the City of Miami’s flexible urban zoning
  • The site is adjacent to Miami’s metro rail and is located one stop from University of Miami and three stops from Brickell / Downtown, Miami’s primary employment hub
  • Proximity to the entertainment centers of Merrick Park, Coral Gables and Coconut Grove provides quick access to world-class restaurants, shops, cultural attractions and parks

Execution

  • Mast is in the conceptual design phase and has retained Arquitectonica, a premier architecture firm with deep Miami residential experience (e.g., Brickell Citi Centre, Icon Brickell, One Miami), to design the project