Lynx Property Listed For Sale, Could Fetch More Than $75 Million

A high-profile site in downtown Miami has been listed for sale by brokerage firm HFF.

The 2.1-acre site is located at 16 SE 2nd Street, and is best known for once being the proposed site of the Lynx project. It is zoned T6-80, with the potential for up to 3.2-million-square-foot project and a tower that is taller than 80 stories

In 2005, the city of Miami issued a MUSP for the mixed-use Lynx project on the site, designed by Pei Partners and Chad Oppenheim. The company that was behind that proposal however never actually owned the property, and the plans soon fell apart.

Wharton Equity Partners, the current owner of the land, took title to the property in 2013. It has been used as a surface parking lot for decades.

No asking price has been set. Jaret Turkell, a managing director at HFF, tells TNM that he expects the property to sell for ‘north of $75 million.’ The most recent open-market sale of the property was for $21.5 million in 2007.

The property is one of the last remaining sites with the potential for a project of this size, according to Turkell. It also benefits from having a Metromover stop directly on the site, and is a two minute walk to Brickell City Centre.

 

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Obviously
6 years ago

I hope the Melo Group purchase it, they don’t just sit around and land bank (I don’t care what you haters have to say about them). They annouce, present, and build.

suomynona
6 years ago

That’s an old Lynx rendering? That looks sharp.

laz
6 years ago

Lynx project was always one of the better designs.

Anonymous
6 years ago

This looks like the third large land offering to come to market within a few blocks over the last week or two that claims to be ‘one of the last remaining sites with the potential for a project of this size’. Is everyone abandoning ship?

BinBrickell
6 years ago

this is in fact the only vacant lot south of 2nd Street that is not owned by a developer yet. downtown south of 2nd street is very different from downtown north of 2nd street…wells fargo center, epic, southeast financial center, met 1, marriott marquis, met 3, ivy/mint/wind, met square, whole foods. this area is basically an extension of brickell. people who have been monitoring downtown development have been waiting for something to happen with this last missing piece…

My thought
6 years ago

My thought is that the best thing for the area would be to demolish the downtown distributor ramps directly behind Lynx. The county/state would free up a lot of developable land under those ramps and reconnect that part of downtown to the river and Brickell. Moreover, although those ramps allow people from the East side of downtown quick access to I-95, they paradoxically make traffic worse because they’re located so close to the backups of traffic trying to get across the bridges to Brickell. I think a combination of feeder roads and reworked on/off ramps closer to NW 3d Ave would allow traffic to flow better.