An unnamed developer is buying out a condo in Edgewater, with plans to demolish the 14-story tower and replace it.
A building as tall as 60 stories can be built on the property.
The developer will submit plans for the new project to the city by May, a broker involved in the transaction told the Herald.
Related Group previously submitted an offer in 2019 to buy a portion of the property from owners of the bayfront condo building for $24 million.
The 2019 Related proposal called for two towers with 200 units on an area that was being used as a surface parking area, a tennis court and recreation area.
The new proposal from the unknown developer calls for the 14-story Biscayne 21 condo building itself to be demolished and replaced by multiple buildings.
Biscayne 21 has 192 units and was built in 1964.
(photo: Phillip Pessar)