MIAMI — Berkadia has arranged the $31 million sale of a 1.8-acre development site in Miami’s Bay Harbor Islands known as 1177 Kane Concourse. Located just west of Bal Harbour Shops, the site includes 300 feet of frontage on Kane Concourse and is permitted for a mixed-use residential, retail and office development.
Jaret Turkell, Roberto Pesant, Scott Wadler, Omar Morales and Jose Mota of Berkadia’s Miami office represented the seller, Northwood Investors, in the transaction. David Martin is the developer’s CEO, and Terra is the buyer for the development site.
Martin says the plans for 1177 Kane Concourse include a mixed-use development with a residential component, Class A office and retail space and food and beverage options at the street level.
Bay Harbor Islands is a community situated roughly two miles north of Miami Beach, just above Indian Creek Island. The islands are accessible to Interstate 95 via N.E. 123rd Street.