COMMERCIAL REAL ESTATE

HFF seeks offers for prime Biscayne Boulevard site

 

mbrannigan@MiamiHerald.com

Commercial real-estate brokerage firm HFF is soliciting bids from prospective buyers for a high-profile development site at 300-330 Biscayne Boulevard.

Earlier plans for the 2.05-acre site, known as the Empire World Towers site foundered, and its former developers landed in prison for tax evasion. Still, the site has approvals for two 93-story residential towers with more than 1,500 units, according to HFF.

The site, located across from Bayfront Park, includes vacant land and an empty office building.

“300 Biscayne is one of downtown Miami’s last remaining development sites with unobstructed water views,’’ said HFF managing director Jaret Turkell, who is marketing the property for a trust benefiting CDR Créances S.A.S., a French-government entity.

The land was at the center of a legal battle extraordinaire between CDR Créances, the French equivalent of the Federal Deposit Insurance Corp., and the former developers, Maurice and Leon Cohen.

CDR, which pursued claims on behalf of a failed French bank, alleged the Cohens diverted money from the sale of a New York hotel that should have been used to repay a bank loan. The Cohens were convicted of tax evasion and sentenced to prison.

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