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Thomas Conway managed firm sells Little Haiti Miami development site – South Florida Business Journal – The Business Journals

A former AT&T telecommunications facility in the Little Haiti neighborhood of Miami that’s slated for redevelopment sold for $13.36 million.
Qualcon Little River Active Zone Business LLC, managed by Thomas N. Conway in Miami, sold the 2.16 acres at 8038 N.E. Second Ave. and 165 N.E. 80th Terrace. The buyer was 8038 and 165 Owner LLC, a Delaware-registered with its office at 1111 Lincoln Road, Miami Beach.
Alfredo Riascos of Gridline Properties represented the seller in the deal, while Tony Arellano of Dwntown Realty worked with the buyer.
“Developers are recognizing the growth and the emergence of strong fundamentals, finding opportunities to appeal to the creatives and curators in Miami that are in search of the unique neighborhoods and experiences that Little Riveroffers,” Riascos said. “This property may be one of the last remaining sites that offers institutional size and scale for future development along Northeast 2nd Avenue.”
The property last traded for $4.55 million in 2019, so it nearly tripled in value. That’s a reflection of the surge in rents in Miami as more wealthy people move to the city from out of state.
The site currently has a 21,848-square-foot telecommunication facility constructed in 1950. In 2021, Qualcon Little River filed plans to rezone the property to “T6-8-O.” That will permit 150 units in 12 stories, or up to 324 stories utilizing affordable housing or workforce housing density bonuses.
In July, Conway sold retail properties in Little Haiti for $18.15 million, with Riascos as the broker as well.
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