1.25-Acre Epic East Land In $125 Million Sale To Argentine Grocery Tycoon

The 1.25-acre Epic East parcel at 300 Biscayne Boulevard Way has been sold to Argentine supermarket chain owner Alfredo Coto for $125 million, according to TRD.

A group of 15 bidders from Asia, New York, Europe and South America competed for the site, but Coto emerged as the winner. Other groups bid above the $125 million price, but Coto was selected for his ability to close quickly.

In 2004, Ugo Colombo and Diego Lowenstein received approval to build 596 units on the site  The new owner could potentially increase the size of the approved plans.

PreviouslyClaim: $100 Million Bids For Epic East Property