Turkish Developer Acquires Church Land for $18.1 Million

Okan Group, Inc.
Representation of Okan Group, a developer in Turkey, in the $18.1 million acquisition of six lots of land in downtown Miami from the historic Central Baptist Church. After the deal had already been negotiated, the client demanded the deal be renegotiated when it was discovered the 35,000-square-foot property was 2,500 square feet less than the 37,500 square feet as described in marketing materials. Bilzin Sumberg aided in renegotiating the deal for a savings of $750,000 to the client. The project, the first in Florida for the Turkish developer, is planned to be a 56-story, mixed-use building with office, retail, and residential.
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