A development site located at 7275 and 7373 Northwest 7th Avenue in Miami's Little River has been sold. The site spans nearly 2 acres and encompasses a total square footage of 33,700. The market value for this transaction has been established at $11,500,000, representing a price per square foot of $341.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $11,500,000
• Address: 7275 & 7373 Northwest 7th Avenue
• Market: Miami
• Acres: 2
• Square Feet: 33,700
• Price per Square Foot: $341
• Buyer: Michael Swerdlow - Swerdlow Group
• Seller: Keith Rozolis - ABC Supply

The buyer, Michael Swerdlow of the Swerdlow Group, plans to incorporate this site into a larger redevelopment project designed to provide affordable and workforce housing. This initiative will involve a total of 5,730 units across five county-owned public housing complexes, part of a $9.6 billion, 99-year project that will introduce 370,000 square feet of commercial space and 250,000 square feet of open space, along with a new Tri-Rail station that will replace the existing 314 public housing units under the HUD’s Rental Assistance Demonstration program.