Chinese buyers purchase former Cabi Developers Brickell site for $74 million

January 2, 2015
Posted by: m2e Team
Category: Uncategorized

Bejing’s China City Construction and New York-based American Da Tang Group bought $74.74 million development site in Brickell previously owned by Cabi Developers. Dr. Shanjie Li, chief executive of American Da Tang Group stated the $74 million number was a very good price and was paid for in cash. It is fully permitted, and can house over 540 condo units and 365 hotel rooms with enough space for a restaurant and retail. The recession caused the developer to go into $30 million of debt in 2012, therefore Cabi will still see a profit after the sale.
Click here for full DBR article.

Author: m2e Team

"Thank you for being so diligent in the LNCP project. Your attention to detail makes us all better at what we do on future projects. Good work out there!"

T.J. Banning

Senior Project Architect, SUNDOG Structures

"The board is very happy with m2e. They are usually very hesitant with vendors / contractors, and with m2e they are very comfortable and appreciate how you've handled situations with professionalism. It has been the calmest, smoothest experience I've dealt with. Even the smallest projects are stressful when we don't choose the right vendor. I wouldn't know where I would be or how to handle stressful situations without m2e. We appreciate everything!"

Rebecca Kirk

Assistant Property Manager, Castle Group Property Management

"Your team is great and I am very pleased with their performance and can-do attitude. We needed you to speak from a position of experience and authority. In this case, we specifically needed you as you have the depth of experience and the time in the industry, so people will find it hard to be able to refute you. I needed to get this job going, and you really helped move it in that direction. Thank you for always being available and taking the time to help us. It’s very appreciated!"

Barbara Salk

President / CEO, B.Smart Development

“On behalf of the BOD, the members, our staff and me, we want to congratulate you for having such a professional team. Mr. Ray Vera, AIA is helping us greatly and will provide us the plans for 3 storages that will be sold to our members and allow our association to keep the 2021 budget with zero increase for the sixth consecutive year and at the same time, satisfy the need of our owners.”

Oscar Behncke Bargnesi

Property Manager, Atlantic | Pacific Companies / Apogee Beach Condominium

“Thank you for working with us and bringing this project to a completion. We truly appreciate the professionalism with which this project was executed.“

Jessica Martinez

General Manager, Atlantic Pacific Management / Condominium Manager, SLS Brickell Hotel & Residences