BH Group is designing a 30-story residential building after acquiring property in North Miami Beach.
CK Prive Group 164 LLC, managed by Bruno Bloch in North Miami Beach, sold the 1.96-acre site at 2261 N.E. 164th St. for $11 million to Aventura-based BH Group. The site currently has a 35,538-square-foot warehouse constructed in 1969. The property last traded for $8.3 million in 2016, so it gained in value.
The site is located just north of the intersection of Biscayne Boulevard and Northeast 163rd Street, which leads to the causeway to Sunny Isles Beach with its tall condos and hotels. That makes it a heavily trafficked intersection.
BH Group said it intends to demolish the warehouse and build a 30-story tower with 400 luxury residential units. It hired Miami Lakes-based CFE Architects to design the project.
There’s been a development boom in North Miami Beach after the city rezoned a large part of its east side to permit greater density and mixed-use development.
This continues an extremely active period for BH Group, which has been purchasing development sites throughout South Florida. The company has partnered with Miami-based Related Group several times. The projects in the pipeline by BH Group include the District 225 condo in downtown Miami, a condo on Fisher Island, a waterfront condo in North Miami, the Transit Village mixed-use project in West Palm Beach, the purchase of the Southland Mall in Cutler Bay, condos on Bay Harbor Islands, and the expansion of an office site in Aventura.