Cushman & Wakefield and Fisher Auction Company have been selected as exclusive advisor for the sealed bid auction of a Miami Beach redevelopment site on Ocean Drive for a minimum bid of $26 million. The 0.3-acre property is zoned as Mixed Use Entertainment (MXE) and it currently houses a 45-unit, 22,000-square-foot residential cooperative and commercial space built in 1960. The property has approximately 96 feet of frontage on Ocean Drive and unobstructed views of Lummus Park on South Beach, the beach and the Atlantic Ocean. Sealed bids for the site are due January 15, 2016. “The site’s location and zoning make it ideal for a five-star luxury condominium project or boutique hotel,” said Senior Director Rosendo Caveiro, Cushman & Wakefield .
