Miami (Biscayne) – New Construction - This 7 story building with 22 units is just north of downtown Miami in the Biscayne Corridor area. Class B property, 1 & 2 BR units ranging in size from 800 to 1200 sq ft with two 2 BR penthouses that are 2,000 sq ft each. Rents will likely be in the $1.25 to $1.35 per sq ft range based on area comps. Total sq ft of the building is 24,000. Bank note on property is $5MM.