Business Services Industry
Florida East Coast Railway Sells Miami Property to Developer.
Knight Ridder/Tribune Business News, June, 2002
By Douglas Hanks III, The Miami Herald Knight Ridder/Tribune Business News
Jun. 27--Long Island developer Michael Samuel has agreed to pay $34.5 million for a sprawling rail yard north of downtown Miami, where he wants to build apartment complexes and a big-box retail center, his real estate broker said Wednesday.
The former Buena Vista rail depot comprises 56 acres on the southern edge of Miami's Design District. Now used to store ocean-going cargo containers, the undeveloped tract has long been eyed by city officials as prime territory for building a mix of living and shopping space from scratch.
Florida East Coast Railway announced the deal the same day it confirmed a sales contract for an abandoned freight house site on the Miami...
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