A 6.3-acre vacant land parcel along the Miami River has been acquired for $26m by Mast Capital. The property more than 1,000 feet of frontage along the 5.5-mile Miami River. The developer has already received approval for the project, Miami River Walk, which will include four buildings. The mixed-use scheme will have a total of 688 one-bedroom and two-bedroom units as well as 2,900 sq ft of retail. The site has been vacant for more than 14 years but served as headquarters for The Miami News from 1957 until 1973 and later held the Southeast Bank building. Colliers International South Florida represented seller, RAD Miami.
“The Miami River District has always been a bustling working waterway, but the recent activity signals that the market is recognizing the potential of the Miami River and the East Little Havana neighborhood for new residential development,” said Gerard Yetming, executive vice president at Colliers International
