Santiago Vanegas Of Habitat Group Purchases Development Site In Miami For $7.5M

A development site located at 150 & 158 Southwest 7th Street in Miami has been sold. The asset spans 0.34 acres and was purchased for $7,500,000. The transaction occurred in the Miami market, indicating the area's ongoing real estate activities and interest.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,500,000
• Buyer: Santiago Vanegas - Habitat Group
• Seller: Henry Bott - Swire Properties
• Lender: Ronaldo Hernandez

The buyer, Santiago Vanegas representing Habitat Group, intends to develop a condo and condo-hotel tower on the site. The project has the potential to rise between 24 to 40 stories, contingent upon zoning regulations. The development aims to feature shared ownership units reminiscent of Smart Brickell.