Fully Entitled Development Parcel Now Up for Bankruptcy Sale in North Miami Beach

Exciting Real Estate Opportunity in North Miami Beach

Hilco Real Estate Sales has made an impactful announcement regarding a prime development opportunity located at 16300 NE 19th Ave in North Miami Beach, Florida. This site, covering approximately 0.86 acres, is fully entitled, enabling interested developers to bid on the property before the deadline on July 22, 2025. Not only does this site have the potential for a lucrative multifamily development, but it also comes with significant perks tied to its zoning and development status.

Property Details

This well-positioned site is strategically located at the intersection of NE 163rd Street and NE 19th Avenue. It boasts entitlements for a 20+-story multifamily residential building, featuring 341 units and ample amenities, including over 400 structured parking spaces and roughly 11,600 square feet of commercial space. The site’s zoning classification of MU/TC, established as Fulford Mixed-Use Town Center, allows developers to integrate both residential and commercial elements seamlessly.

Design Features

The proposed Skygarden Miami project is envisioned as a vibrant residential community, offering a variety of unit layouts—studios, one-bedroom, and two-bedroom apartments, with an average unit size of around 752 square feet. Each unit is designed with private terraces and in-unit laundry facilities, complemented by high-end finishes. Additionally, the project will feature a multitude of amenities, including a rooftop garden, resort-style pool, well-equipped fitness center, and inviting lounge spaces.

Financial Incentives

A key financial advantage of this property is its eligibility for a Community Redevelopment Agency (CRA) tax incentive program, which could potentially lead to a property tax exemption of up to 75% over a 20-year period, provided workforce housing criteria are satisfied. This benefit significantly enhances the appeal for long-term investors looking to maximize returns.

Local Market Dynamics

The North Miami Beach area is currently experiencing a surge in development, with over 3,500 residential units either approved or completed within a three-mile proximity. The site's location in a densely populated urban corridor, combined with a strong demand for rental properties, solidifies its status as a promising investment prospect. Jeff Azuse, Executive Vice President at Hilco Real Estate Sales, emphasizes the rare combination of design approvals, CRA tax incentives, and a prime location that positions Skygarden Miami for substantial appreciation.

Next Steps for Bidders

For those interested in seizing this exceptional opportunity, qualifying bids must be submitted by the noon deadline on July 22, 2025. Interested parties can access the Asset Purchase Agreement (APA) necessary for participation on the Hilco Real Estate Sales website.

Hilco’s team is prepared to assist potential bidders with any inquiries related to the bidding process. For more detailed information, interested bidders can reach out directly to Steve Madura, Michael Kneifel, or Jeff Azuse via the provided contact details.

This opportunity at 16300 NE 19th Ave represents a strategic investment route in South Florida's real estate market, making it a worthwhile consideration for institutional investors and developers concentrating on growth and returns in rapidly evolving landscapes.