UNCG And Vertical Developments Buy Edgewater Site For $13.5 Million With Plans To Build A Condo-Hotel

Urban Network Capital Group (UNCG), in collaboration with Vertical Developments, has acquired a land parcel in the Edgewater neighborhood of Miami’s urban core at 3618 Northeast 5th Avenue. The transaction closed for $13.5 million, with the previous owner being Hotelex Midtown LLC, an affiliate of Hotelex Group. The 4,725-square-foot parcel is zoned T6-24a-O, permitting a structure of up to 24 stories. The partnership between UNCG and Vertical Developments plans to develop a condo-hotel tower on the property; details have not yet been disclosed. Alfonso Jaramillo from Fortune International Realty represented the buyers in the deal.

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Newrock Partners’ Completes Construction On ‘Oaklyn’ In Oakland Park And Welcomes First Residents

Oaklyn, an 11-story mixed-use tower located at 3333 North Federal Highway in the heart of Oakland Park, has completed construction and officially opened its doors, welcoming its first residents. Designed by Kobi Karp Architecture & Interior Design Inc., with First Florida as the general contractor, and developed by Newrock Partners, the property offers 274 apartment residences, ranging from studios to two bedrooms, with flexible floor plans spanning from 451 to 1,172 square feet. Oaklyn recently received its Temporary Certificate of Occupancy on September 15, offering residents unobstructed rooftop views of the cityscape and beaches, sleek interior finishes, and abundant amenities.

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