CRE Sources: Large Miami Parcel to be Auctioned

September 17, 2013 Posted in Firm News

Prema LLC will auction a piece of property in a highly in-demand area of Miami – 1631 NE Miami Pl (crosses 1622 NE 1st Ave.)

This large, empty parcel is located just west of the Omni, near mid-town and the Adrienne Arsht Center for the Performing Arts.

The area was originally intended for a mixed-use project, Miami Max, but is now zoned for residential use.

Lenders were trying to foreclose on the property, but Prema filed for Chapter 7 bankruptcy to prevent the fire sale. The trustee will auction the Property on October 8, 2013 in a live auction at the Offices of Salazar Jackson at One Biscayne Tower, located at 2 South Biscayne Boulevard, Suite 3760, in Miami.

This is an exciting development opportunity for interested buyers and will change the landscape of the area, as the first residential building in the area.

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