A 2.3 acre parcel on Biscayne Boulevard between 56th and 57th street has been sold for $15 million. The transaction was first reported by TRD.
57BB Investments, managed by Carlos Cuevas, is the buyer. The seller is Kubik LLC, which still owns the neighboring retail plaza. Kubik has agreed to support the buyer’s development plans.
The new owner intends to develop a 12-story residential condominium and mixed-use project, which may also contain restaurants, office space, commercial use and parking. A 300-unit project called Kubik had been approved for the site in 2003, but neighborhood activists appealed and delayed the project for years.