After months of rumors and hype suggesting big mainland Chinese buyers were eyeing prime Miami properties, Bejing has finally arrived.

A development site in Brickell has traded hands for $74.74 million, scooped up by an affiliate of Beijing behemoth China City Construction and New York-based American Da Tang Group. The 2.39-acre construction site at 1430 S. Miami Ave. is smack in the middle of the condo development boom going on throughout Miami’s urban core. But the property had been held up as part of a Chapter 11 bankruptcy restructuring by former owner, Aventura-based Cabi developers. National broker CBRE began marketing the property again in late 2013.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]