Business

July 24, 2014

Developers buy 6.2 acres along the Miami River, including Finnegan’s River, with plans to create Miami Riverwalk

New York real estate investors Chetrit Group and Miami developer Ari Pearl have bought 6.2 acres on three blocks along the Miami River, including the Finnegan’s River property, with plans to build a major mixed-use development called Miami Riverwalk, with condo towers, a hotel and marina, retail space and offices.

New York real estate investors Chetrit Group and Miami developer Ari Pearl have bought 6.2 acres on three blocks along the Miami River, including the Finnegan’s River property, with plans to build a major mixed-use development called Miami Riverwalk, with condo towers, a hotel and marina, retail space and offices.

Miami-Dade property records show that CG Miami River, led by Chetrit Group and Pearl, bought the Finnegan’s River property at 401 S.W. Third Ave. for $11.5 million, from Ocean Drive Clevelander.

Miami architect Kobi Karp said he is designing the mixed-use project, which will include four 60-story condo towers with a combined 1,749 units, plus a marina and hotel, retail space and offices.

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