A developer has just closed on the purchase of the Denny’s restaurant in the Midtown Miami and Edgewater area, with plans for redevelopment, according to the SFBJ.
3600 Biscayne JV OZNF LLC paid $24 million for the property. The company is managed by Pacific Star Capital founder Aria Mehrabi.
Mehrabi told the website that he is working on a development that will be built on the property, with plans to be released soon.
The Denny’s was built in 1968, and has never been sold since then. The restaurant chain was the seller.
It sits on 1.18 acres of land, where 500 units per acre are allowed.
(photo: Phillip Pessar)