Vacant Land for Development
Beacon Hill Property Group is pleased to announce the sale of 1425 Bay Road in Miami Beach, FL. This 6,000-square-foot vacant lot was sold for $2,150,000 or $358 per square foot. The existing FAR allows for the as-of-right development of up to 7,500 square feet of townhomes (as depicted in the rendering below). The Buyer was an NJ-based developer. Beacon Hill Property Group represented the Seller in this transaction.
NE corner of Bay Road and 14th Terrace
7,500 sf multi-family/townhome project
Unobstructed water views from the 3rd and 4th floor
As the South Florida market continues to grow across all economic sectors, we expect luxury townhomes, boutique condo projects, short-term rentals, or spec single-family homes to be the highest and best use for this site.