Matthew Jacocks, a Sales Director at Capital Commercial Real Estate Group, Inc. represented the seller. Jacocks tells exMiami that the city placed a demolition order on the half-built structure while the property was under contract, complicating the sale. The Seller and Buyer managed to have the demolition order removed after engineers deemed the structure to be safe.
A neighboring property is said to be under contract to a high-profile developer. In addition, All Aboard Florida and Don Peebles are planning a major project on CRA-owned land across the street.