Live Auction Date: 28 January 2026
Time: Bidding opens live at 3:00PM ET (virtual login opens at 2:30PM ET)
Location: The Ritz-Carlton Coconut Grove, Miami, 3300 SW 27 Avenue, Coconut Grove, Florida 33133
Registration Deadline: 26 January 2026—no later than 5:00PM ET
Deposit Required: $250,000 fully refundable deposit (unless bidder is the winning bidder)
One of the most significant development opportunities in Miami will be sold at auction this month. 340 Biscayne Boulevard in Downtown Miami will be offered at a live auction in cooperation with ONE Commercial in association with ONE Sotheby’s International Realty, and presents a rare opportunity for global investors, developers, and institutional capital to acquire a legacy asset in Miami’s premier waterfront corridor. Bidder registration has opened, with live bidding set to begin at 3:00PM ET on 28 January 2026.
This fully entitled 0.91± acre megasite is approved for an 82-story mixed-use tower with sweeping panoramic views across Biscayne Bay, the Port of Miami, and Miami Beach. The offering represents an exceptional opportunity to secure scale and entitlement certainty that is increasingly hard to find in today’s market and the ability to break ground on a development quickly. The advanced entitlement and approval profile reduces the timeline for development and supports a defined path to execution for qualified buyers.
“Fully entitled development sites of this scale and positioning are increasingly difficult to source in Miami,” said Linda Worton Jackson, partner at Pardo Jackson Gainsburg and Shelowitz, PL, the attorney for the Seller. “This offering combines entitlements, premier waterfront corridor exposure, and long-term institutional-grade value potential in one of the most supply-constrained high-end residential and hospitality markets in the country.”
A Transparent, Structured Competitive Process
The auction will enable buyers to acquire clean title pursuant to a Court order that approves the sale and protects the buyer.
“The process is clear, competitive, and designed for serious capital,” said Chad Roffers, CEO of Sotheby’s Concierge Auctions. “For qualified bidders, this is a great chance to acquire a fully entitled megasite with scale, visibility, and scarcity value that is nearly impossible to replicate.”
Fully Entitled. Fully Positioned. Exceptionally Rare. 340 Biscayne is located within one of the highest-growth segments of Downtown, surrounded by landmark development activity—including dual Waldorf Astoria projects. The site is fully entitled for an 82-story mixed-use development featuring:
The property includes:
0.91± acres at the premier corner of Biscayne Boulevard and NE 4th Street 1,439,352± SF gross development potential 959,568+ SF approved net sellable area Existing 10-story hotel building with all of the furniture and fixtures (built 1950; renovated 2015) Approximately 500 parking spaces, supporting near-term parking revenue potential
Why This Matters: Scarcity, Entitlements, and Timing
Investors gain immediate development potential and strategic timing flexibility, including the ability to phase, partner, or optimize program mix while maintaining entitlement strength.
“This property is a gem with defined approvals already in place,” added Jackson. “Qualified buyers are acquiring not only a prime location and future skyline presence, but also a highly advanced entitlement position that reduces execution risk and supports long-term value creation.”
Starting Bid and Competitive Bid Guidance
The bidding will open at $82 million.
“This asset will appeal to sophisticated buyers who understand the value of a large site with development opportunity on Biscayne Boulevard,” added Roffers. “When a site like this comes to market with approvals in place and a defined process, it draws serious attention globally.”
Call to Action
Qualified bidders must register and submit their deposit no later than 26 January 2026 at 5:00PM ET. Any bidder who is timely registered and wishes to attend the auction virtually must log in to the auction no later than 28 January 2026 at 2:30PM ET.
For registration instructions, due diligence access, and bid procedures, interested parties should immediately contact the auction team directly at +1 646.683.2411 or designated representatives per auction materials.
More Information Available About the Property