Turnberry Associates has purchased a 50% stake in the Biscayne Landing project from Richard LeFrak.
LeFrak sold to Turnberry after buying out Michael Swerdlow and Ezra Katz, who were investors in the project. Terms were not disclosed.
The 183-acre site is located at 15045 Biscayne Boulevard in North Miami. The developers plan to build over 4,000 residential units, along with a million square feet of commercial space
The Biscayne Landing name, associated with contaminated land and a failed condo project, will be scrapped.
‘This is an exciting opportunity for two of the country’s leading real estate companies to develop an unprecedented master planned community and create a new skyline in South Florida,’ says Jeffrey Soffer, Chairman and CEO of Turnberry Associates. ‘Both of our relationships will be leveraged to build something that has never been seen before in this market.’
Arquitectonica has been retained as an architect for the project, according to the Herald, along with Design 3 International of Maryland and landscape-design firm EDSA.