Avison Young’s Florida Capital Markets Group completed the $23 million sale of Biscayne 79, a prime development opportunity that includes the former Immigration and Naturalization Service location at 7880 Biscayne Blvd. in Miami. The buyer was Miami-based B Group Capital Management, represented by court-appointed receiver Michael Goldberg.
Principals Michael T Fay (Managing Director of Avison Young’s Miami operations), Jay Ziv, John K Crotty, David Duckworth and Brian C de la Fé facilitated the transaction on behalf of Avison Young.
Biscayne 79 consists of two parcels: a ±2.6 acre parcel with direct frontage to the hard corner of Biscayne Boulevard and 79th Street; as well as a non-contiguous ±0.9 acre waterfront parcel along Little River – both zoned for mixed use allowing up to 500 residential units across two towers built up to 12 stories tall with total buildable area reaching 889000 square feet .
