Regalia on the Bay: Fully Approved 82-Story Development Site in Downtown Miami Heads to Auction

Credit: ONE Commercial

A landmark opportunity to redefine Downtown Miami’s skyline will soon go to auction. The fully approved Regalia on the Bay, located at 340 Biscayne Boulevard, is set to be auctioned by Concierge Auctions this December—offering one of the most significant mixed-use development opportunities in South Florida.

Credit: ONE Commercial

A Once-in-a-Generation Opportunity on Biscayne Boulevard

Currently operating as a Holiday Inn, the 0.91 ± acre site occupies one of the last large parcels on Biscayne Boulevard. The hotel will cease operations at the end of 2025, paving the way for redevelopment into an ultra-luxury supertall tower designed by Arquitectonica.

The project is fully entitled and approved for an 82-story mixed-use high-rise comprising approximately 1,439,352 ± square feet of gross development area and 959,568 + square feet of net sellable area, including:

• 374 luxury condominium residences
• 120-key hotel
• Office and commercial spaces
• 500 parking spaces

The property presents a rare opportunity to develop one of the last large-scale waterfront sites in the heart of Downtown Miami.

Bidding Details

The property is listed for $175 million and will be sold without a minimum bid requirement—allowing the market to set the price.

• Online bidding opens: December 3, 2025 at 5 p.m. ET
• Live auction: December 17, 2025 at Sotheby’s New York
• Bidder deposit required: $250,000 USD (refundable to non-winning bidders)
• Auction platform: Concierge Auctions

All bidders must be pre-qualified with Concierge Auctions prior to the start of the auction.

Credit: ONE Commercial

Surrounded by Landmark Towers in Miami’s Luxury Corridor

Situated in Miami’s fast-evolving downtown core, Regalia on the Bay is surrounded by world-class developments including Waldorf Astoria Residences Miami, Aston Martin Residences, One Thousand Museum, and E11EVEN Hotel & Residences. The neighborhood has become a focal point for luxury residential growth, attracting global investors, high-net-worth buyers, and corporations relocating to South Florida.

Prime Location & Connectivity

The site’s coveted position at 340 Biscayne Boulevard offers direct access to Bayfront Park, the Pérez Art Museum Miami (PAMM), the Kaseya Center, Miami Worldcenter, and Brickell City Centre. The nearby Brightline station, Metromover, and Port of Miami provide seamless regional and international connectivity.

“Regalia on the Bay is a rare opportunity to shape Miami’s iconic skyline,” added Gabriel Flores, Vice President and Managing Broker of ONE Commercial. “Located along prestigious Biscayne Boulevard and framed by landmark towers, this premier site awaits a visionary buyer ready to define the next chapter of Miami luxury.”