After months of rumors and hype suggesting big mainland Chinese buyers were eyeing prime Miami properties, Bejing has finally arrived.
A development site in Brickell has traded hands for $74.74 million, scooped up by an affiliate of Beijing behemoth China City Construction and New York-based American Da Tang Group. The 2.39-acre construction site at 1430 S. Miami Ave. is smack in the middle of the condo development boom going on throughout Miami’s urban core. But the property had been held up as part of a Chapter 11 bankruptcy restructuring by former owner, Aventura-based Cabi developers. National broker CBRE began marketing the property again in late 2013.
