Urban Network Capital Group And Vertical Developments Acquire 0.4-Acre Development Site In Edgewater For $13.5M

A 0.4-acre development site located at 445, 455 Northeast 36th Street, 3618, 3620, 3630 & 3632 Northeast Fifth Avenue in Miami's Edgewater area has been sold for $13.5 million. The buyers, Urban Network Capital Group and Vertical Developments, plan to use the site for a condo-hotel project, although specific details about the project have not yet been revealed.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $13,500,000
• Address: 445, 455 Northeast 36th Street, 3618, 3620, 3630 & 3632 Northeast Fifth Avenue
• Market: Edgewater
• Buyer: Urban Network Capital Group (Robert Thorne), Vertical Developments (Fernando de Nuñes y Lugones)
• Seller: William Hammani, Nouman Katat
• Broker: Alfonso Jaramillo (Fortune International Realty)

The collaboration between Urban Network Capital Group and Vertical Developments has led to the acquisition of this development site. The buyers plan to develop a condo-hotel on the property, contributing to the ongoing growth and development in Miami's Edgewater area.