The subject property can accommodate a multi-family or mixed-use development with up to 76,000 square feet of floor area and up to 8 stories high. It is 1 mile from the Aventura Mall and the new Brightline Aventura station, an area that has seen explosive development in the past few years (see pictures, attachments). The Midtown Aventura multi-family development adjacent to the Brightline Aventura station sold for $149 million in 2018 or $372,500 per unit. Subject property is adjacent to a new 4 story, 37,000 sq. ft. office building and across the street from the proposed West Aventura Town Center, a $200 million, 600,000 square foot mixed-use development with 480 residential units, a 120 room hotel, a 75,000 square foot office building and 85,000 square feet of retail (see attachment).