Downtown Miami Holiday Inn redevelopment site heads to auction with $70M reserve price

A distressed Holiday Inn site will hit the auction block next month, signaling a possible jumpstart for redeveloping one of the last major parcels in downtown Miami.  The property at 340 Biscayne Boulevard, currently home to the 200-key Holiday Inn Port of Miami-Downtown, will be sold through a court-approved bankruptcy auction starting Dec. 3, culminating with a live sale in New York on Dec. 17, according to filings in Miami federal bankruptcy court.  On Nov. 7, U.S. Bankruptcy Judge Laurel Isicoff ruled that the sale will proceed free and clear of liens. A hearing to confirm the auction results is […]This article originally appeared on The Real Deal. Click here to read the full story.