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The 442,000-square-foot, unnamed property will be located at 1015 SW 1st Ave. and feature high-end amenities and 2,000 square feet of ground-floor retail space.

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The Greater Miami Chamber of Commerce annual members meeting featured a presentation on smart cities and advance air mobility (AAM), an emerging field of transportation that uses electric vertical takeoff and landing (eVTOL) aircraft to transport passengers. The technology offers a more sustainable and efficient alternative to traditional air travel and could serve as a solution to traffic congestion in urban areas like Miami.

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Sales will launch in late 2023, with prices starting at $3.5 million.

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Miami’s office sector saw the greatest dropoff, registering just $6 million in sales in the first quarter of 2023, compared with $226 million in 2022, a 97 percent decrease.

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Between August 2021 and July 2022, foreigners invested US$6.8 billion in the purchase of properties in Miami Dade, which implies an increase of 34% compared to the previous twelve months.