Grand Central Park, where the former Miami Arena used to be located, has been sold for $35 Million. The lot was purchased by a stakeholder in Miami World Center with intentions of expanding. The lot received an expensive price tag mainly due to the fact that the area resides between the new FEC downtown Miami station, built earlier this year, and the already neighboring Miami World Center. The lot is projected to position 1,400 condos and be a convenience to business as its location is near transit access.
Source: Curbed Miami