Distressed Miami River dev site hits market with $18M asking price

A distressed Miami River development site tied to allegations of fraud hit the market again with a reduced asking price of $18 million. The 1.8-acre property comes with city approvals for a 40-unit townhome development called Miami River Cove, previously planned by a joint venture led by Marlon Gomez, who leads Miami-based Gomez Development. Gomez’s partner is an entity managed by Fausto Callava and Antonio Pardo, who lead Coral Gables-based development firm Avenue 4 Partners. An affiliate of Coral Gables-based The Fiorentino Family Office has a pending foreclosure complaint against the Gomez-led entity that owns the Miami River site. The […]This article originally appeared on The Real Deal. Click here to read the full story.