M2E client, PMG under contract to buy 400 Biscayne for $54M: sources

posted on Tuesday, August 1st, 2017 by Marketing Director

Property Markets Group is under contract to purchase 400 Biscayne Boulevard for $53.6 million, sources told The Real Deal.

The New York-based developer is paying nearly $30 per buildable square foot for the property, sources said. The site allows for 1.8 million square feet of development.

PMG plans to build a two-phase project beginning with an apartment tower, according to PMG director Evan Shapiro. The second phase is to be determined.

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