A company managed by developer Richard Meruelo has purchased the property where Bayview Market was once proposed for $64 million
Rebuild Miami-Edgewater LLC bought the 7.35-acre site from BDB Miami. The newly-formed LLC put $30 million into the deal, with the remaining $34 million financed by the selling entity.
BDB retained ownership of 30,000 square feet of land west of the property. A cemetery borders the property to the north, which likely dampened buyer interest.
A big-box retail market was once planned by BDB, but never built. The broker representing the seller claims that the property is zoned to build up to 3 million square feet of residential, retail, hotel and office space.