Tracing an Edgewater Property’s Journey: A Glimpse into the Sales History and Future Potential

Listing Research

This week, we look closer at an Edgewater property with a notable sales history. Located at 423 NE 27th ST, this property was assembled in 2022 by Groupe City, a French developer, for $14.8 million, which included preliminary plans by renowned architecture firm Arquitectonica.

A Surprising Turn of Events

Despite Groupe City’s initial plans, the property is now up for sale with an asking price of $25 million. The listing can be found on Crexi and is represented by George Vail of Avison Young Miami and Jim Agard of Vendome Capital LLC.

A Snapshot of the Sales History

The property’s sales history is quite captivating. In 2014, it was sold for $2.1 million, then assembled in 2022 for $15 million, and now, it’s being offered in 2023 for $25 million.

A Prime Location with Unique Challenges

Situated just a few feet from Biscayne Bay and adjacent to Icon Bay Park, the property is less than half a mile from Midtown and Pace Park. One of its obstacles is that it’s affected by a 3-foot storm surge, which likely presented an interesting challenge for Arquitectonica.

Olivia Ramos


Every Wednesday at 1PM EST on LinkedIn.

Need a boost in your development pipeline? See how you can find new development leads instantly.

Get to know the team.

Follow Us

Contact Support

Make sure you leave a detailed message so that we can be of optimal services.