$586M coming from New York to Downtown – The Real Deal

March 08, 2016

New Yorkers have spent at least $586.5 M in property within one square mile of Downtown. They have been scoping out areas between the Miami River and NE 6 St, and east of I-95 to Biscayne Bay, and for the past two years, they have been moving in on those properties.

At least 1.1 M Sq.Ft. of land and over 1.28M Sq.Ft. of buildings have been acquired by New Yorkers, making up 56% of investment in the area. The area is the beginning stages of an expected renaissance, where a $13 M improvement plan has been put into motion. The beautification project is proposed to have more trees, expanded sidewalks, new benches and bike racks, and has already broken ground.

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