450 NE 136^TH STREET

Deal Story: 450 NE 136th Street | North Miami, FL

The Alpha Commercial Advisors™ is proud to announce the closing of 450 NE 136th Street, a 0.60-acre boutique development site in North Miami, sold on August 28, 2025 for $710,000 — the equivalent of $28,400 per developable unit. Jamie Rose Maniscalco facilitated both sides of the successful transaction.

While the site wasn’t shovel-ready, the sellers had spent the past year steadily advancing approvals, ultimately securing a Conditional Use Permit (CUP) for a 25-unit density bonus—a meaningful step that created a clearer development path. That momentum, combined with a more aggressive price point, helped catalyze serious interest from a buyer pool increasingly focused on near-term viability.

This site was first brought to market back in April 2024 at an ambitious asking price of $1,180,000. Over the course of more than a year, the listing underwent multiple price adjustments in response to shifting market conditions—a period marked by escalating construction costs, high interest rates, and developer hesitancy around longer entitlement timelines. Across Miami, development land has moved slower in the past 12–18 months as buyers have prioritized either yield-producing covered land or sites with major permitting hurdles already behind them.

The added density already in-place combined with the fair price-point is exactly what helped this deal get across the finish line. That, plus sheer persistence, and belief in the product—understanding when to hold the line, when to pivot, and how to keep a listing alive through a changing cycle. A clear success case for the importance of top-down marketing, the buyer was targeted directly by Maniscalco through research which showed they had purchased a site of comparable scale and price-point, within the past couple years in a different neighborhood than the subject site, but a location that had similar characteristics in terms of the off-main, mid-block location. Understanding that buyers are creatures of habit and taste preferences tend to predictably translate, Maniscalco directly contacted the buyers via phone who immediately expressed serious interest in the opportunity and proceeded into contract quickly.