Bidding Opens at $72 Million for Approved 82-Story Miami Development on Biscayne Boulevard
- Dec 15, 2025
- 1 min read
Bidding has officially opened at $72 million for a fully approved, 82-story mixed-use development site on Biscayne Boulevard, marking a rare opportunity to acquire one of the largest remaining buildable parcels in Downtown Miami. The auction is being conducted by Sotheby’s Concierge Auctions and will conclude on December 17 at Sotheby’s New York.
The property, located at 340 Biscayne Boulevard and known as Regalia on the Bay, is listed at $175 million in cooperation with ONE Commercial, in association with ONE Sotheby’s International Realty. The site is zoned for a supertall luxury tower and offers significant flexibility for developers seeking to capitalize on Miami’s continued urban and waterfront growth.
Designed by Arquitectonica, the approved plans call for an 82-story tower featuring 374 residential units, 120 hotel rooms, office and commercial space, and approximately 500 parking spaces. The scale and approvals place the project among the most substantial development opportunities currently available along Biscayne Boulevard.
The site sits within a rapidly evolving corridor of Downtown Miami, surrounded by some of the city’s most prominent luxury developments. Neighboring landmarks include the Waldorf Astoria Residences Miami, a planned 100-story tower, as well as the Aston Martin Residences. The area has become a focal point for international investment, driven by corporate relocations, luxury residential demand, and Miami’s growing profile as a global urban center.
The sale is also tied to Sotheby’s Concierge Auctions’ Key For Key giving initiative, which supports the construction of homes for families in need through a partnership with Giveback Homes.