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Lender Wins Second Auction For Miami Skyscraper Site With $95M Bid
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The lender to a fully entitled redevelopment site won a bankruptcy auction for the property for a second time — this time for $18M more than its initial winning bid, which was voided by a judge.
Concierge Auctions led the auction, and Gabriel Flores with One Commercial, a subsidiary of One Sotheby's International Realty, was the listing agent.
Entities affiliated with Brazilian investor and developer Gilberto Bomeny purchased the hotel in 2015 for $65M, according to public records.
The site is directly north of the under-construction Waldorf Astoria Hotel & Residences Miami, set to be Florida's tallest building.
Cirrus' $95M purchase will go before Isicoff for approval at a hearing on Feb. 11, a representative for Concierge Auctions said.