By Josh Stein — Miami real estate sales associate, Florida license SL3057661. Selling Miami luxury property since 2002, with more than $1 billion closed.Two Miami pre-construction towers are marketed as whole-block developments. The Miami-Dade County roll says one developer owns every lot on its block and the other owns three of eight. Alhambra Parc in Coral Gables holds all six folios of its site under a single 2022 deed. The Kempinski Residences Miami Design District sits on a block of eight folios, and five of them are titled to other companies.
I pulled both sites folio by folio. Below is every parcel, its owner of record, its size and the last sale the county has indexed against it — and then the part that matters most, which is what a tax roll can and cannot actually prove.
Key Takeaways
- Alhambra Parc owns its whole block. Six folios, Lots 1 through 7 of Block 15, all titled to 33 Alhambra PropCo LLC, all conveyed by one deed on 15 June 2022 for $19,250,000.
- Kempinski Design District owns three folios of eight — 68,642 of the block’s 117,766 square feet, or 58.3 per cent.
- 3883 Biscayne Boulevard is not the developer’s. Half the address the project is marketed under is titled to Odarp Inc, with no recorded sale since 1 March 1978.
- The two most valuable parcels on that block are the two it does not own. The county rates both at $225 a square foot of land; the developer’s own three are rated at $100 to $165.05.
- Alhambra’s land cost $391.19 a square foot against a 2026 assessment of a flat $300.00 — a 30.4 per cent premium. The Design District parcels cost about $531.02 against roughly $147.80 assessed.
- None of this is evidence of a problem. A tax roll records deeds. Options, contracts and ground leases do not appear on it at all, and assemblages routinely close in stages over years.
Who owns each block, exactly?
Site control is the first thing a pre-construction buyer should be able to check and almost the last thing anybody publishes. It is not hidden — it is simply spread across one folio record per parcel, and nobody assembles it for you.
So here are both sites assembled. Alhambra Parc, at 33 Alhambra Circle in Coral Gables, resolves to six folios under one owner. The Kempinski Residences Miami Design District resolves to eight folios under three owners. That difference is the whole article.
Alhambra Parc: seven lots, one deed, one owner
Alhambra Parc sits on six folios covering Lots 1 through 7 of Block 15, Coral Gables Section L, Plat Book 8, Page 85. All six are titled to 33 Alhambra PropCo LLC. All six were conveyed by a single deed on 15 June 2022, recorded at Official Records Book 33258, Page 591, for $19,250,000, from TWJ Alhambra LLC.
That is 49,209 square feet, or 1.13 acres, and it is the whole block. The county flags the sale as a multi-parcel transaction and repeats the same $19.25M figure on every one of the six folio records — so anyone reading a single folio in isolation would conclude that an 11,732 square foot parcel had sold for nineteen and a quarter million dollars. It did not. That is the price of the assembly, printed six times.
Across the whole site it works out at $391.19 per square foot of land. The 2026 assessment puts the same ground at a flat $300.00 per square foot, which makes the purchase a 30.4 per cent premium to assessed land value. For scale, the nearest comparable assembled Coral Gables condominium site I have pulled — 4011 Salzedo Street, 50,315 square feet, sold 16 December 2020 — went for $11,450,000, or $227.57 a square foot. Eighteen months and a different corner of the city separate the two, so read it as scale, not as a comp.
One detail worth knowing: on the 2026 roll the site is still DOR code 1081, vacant commercial land, with no declaration of condominium recorded and zero units. That is exactly what a pre-construction site should look like on a tax roll. The absence of a condominium record is not a red flag; its presence would simply mean the project had got further.
Three of eight on Biscayne Boulevard
Two miles north-east, the Kempinski Residences Miami Design District occupies a full city block of Magnolia Park 2nd Amended — eight folios, 117,766 square feet, bounded by Biscayne Boulevard, NE 38th Street and NE 39th Street.
Biscayne Residences Holdings LLC holds three of them, totalling 68,642 square feet, or 58.3 per cent of the block. It bought 3801 Biscayne Boulevard for $2,500,000 and 455 NE 38th Street for $31,300,000, both in March 2024 and both flagged by the county as part of a package or bulk sale, then took 448 NE 39th Street by a $100 quitclaim in May 2024 from Hillsboro Atlantic LLC, which had itself paid $2,650,000 for it eight days earlier. Counting the arm’s-length price rather than the quitclaim, the land it holds cost about $531.02 a square foot against roughly $147.80 assessed.
| Parcel | Lot size | Owner of record | 2026 land rate | Developer |
|---|---|---|---|---|
| 3883 Biscayne Blvd | 14,540 | Odarp Inc | $225.00 | — |
| 404 NE 39 St | 8,646 | Glenroyal Investment LLC | $225.00 | — |
| 3801 Biscayne Blvd | 50,442 | Biscayne Residences Holdings LLC | $165.05 | yes |
| 448 NE 39 St | 9,170 | Biscayne Residences Holdings LLC | $100.00 | yes |
| 455 NE 38 St | 9,030 | Biscayne Residences Holdings LLC | $100.00 | yes |
| 446 NE 39 St | 8,646 | Glenroyal Investment LLC | $100.00 | — |
| 444 NE 39 St | 8,646 | Glenroyal Investment LLC | $100.00 | — |
| 412 NE 39 St | 8,646 | Glenroyal Investment LLC | $100.00 | — |
All eight folios of Magnolia Park 2nd Amended, PB 5-25, as recorded by the Miami-Dade County Property Appraiser and pulled on 4 September 2026. Shaded rows are parcels the developer does not own.
The remaining five folios are in other hands. Four contiguous lots on NE 39th Street belong to Glenroyal Investment LLC, whose last recorded activity on each was a $100 transfer in November 2019 — the signature of an intra-family or corporate reorganisation, not a sale. The fifth is 3883 Biscayne Boulevard, half the address the project is marketed under, titled to Odarp Inc with no recorded sale since 1 March 1978.
The most expensive ground is not theirs
There is a second pattern in the roll that is easy to miss, and it cuts against the developer rather than for it.
The county rates land parcel by parcel. On this block the two highest-rated parcels are 3883 Biscayne Boulevard and 404 NE 39th Street, both at $225.00 a square foot — and the developer owns neither. Its own three are rated at $165.05, $100.00 and $100.00. The Biscayne Boulevard frontage is the valuable part of the block, and most of that frontage is still held by somebody else.
That does not price the deal. An assessor’s land rate is a mass-appraisal figure, not a negotiation, and the $31.3M paid for a 9,030 square foot parcel shows how far a real assemblage price can run from it. But it does tell you which parcels the remaining sellers know are worth holding.
What a tax roll cannot tell you
None of this means anything is wrong at the Design District. This is the most important paragraph in the article and I would rather it were the one people quote.
A tax roll records deeds and nothing else. Purchase options, contracts pending closing, ground leases, joint ventures and closings that have not yet been indexed are all invisible on it. Large assemblages routinely close in stages across several years, and a developer that has tied up five parcels under contract looks, on the roll, exactly like a developer that has tied up none of them. What the record shows is a gap in the public record, which is a different thing from a problem.
What it does mean is that the two projects are at measurably different stages of the same process, and only one of them can be read as finished from the outside. If you are buying pre-construction, site control is a fair question to put to a sales team, and the answer is checkable before you sign anything. A team with everything under contract will tell you so.
How to check site control yourself
Every figure above is public and free. Search the property address on the Miami-Dade County Property Appraiser site, open the folio, and read the owner of record and the sales history. Then do the same for the parcels either side of it. A block that is genuinely assembled reads as one owner repeated; a block that is still being assembled does not.
Three things to watch. A sale flagged multi-parcel or package or bulk sale is the price of everything in that deed, not of the folio you happen to be reading. A $100 transfer is a quitclaim or a reorganisation, so look at the deed just before it for the real number. And a folio’s sales list is not always printed newest first — read the dates, not the order.
Verified 4 September 2026Miami-Dade County Property Appraiser, 14 folio records4 sources
No. It means the assemblage is not complete on the public record on the day you look. Developers regularly build on land they have under option or contract rather than deed, and those instruments do not appear on a tax roll. It is a question to ask, not a conclusion to draw. It means the recorded price covers every parcel in that deed, not the single folio you are reading. Miami-Dade repeats the full price on each folio in the deed, so a six-folio assemblage shows the same $19.25M six times. Dividing that figure by one parcel’s square footage produces a number that is wrong by a factor of six. No. On the 2026 roll it is DOR code 1081, vacant commercial land, with no declaration of condominium recorded and no units. That is normal for a site at this stage; the declaration is recorded much later in the process. Ownership updates as deeds are indexed, which typically lags the closing by weeks. Assessed values are set annually. Both sites here were pulled on 4 September 2026, so a deed recorded after that date would not appear above. Ask whether the developer owns or controls the entire site, and if it is controlled rather than owned, ask what the instrument is and when it expires. Then check the folios yourself. A straight answer costs the sales team nothing, and an evasive one is itself information.Site control and the county record — frequently asked questions
Does owning only part of a block stop a tower being built?
What does a multi-parcel or bulk sale flag mean?
Is Alhambra Parc a condominium on the county roll yet?
How current is the Miami-Dade roll?
What should I ask a pre-construction sales team about site control?
Sources
- Miami-Dade County Property Appraiser — folio records, ownership, lot sizes, 2026 assessed land rates and full sales histories for all eight folios of Magnolia Park 2nd Amended (PB 5-25) and all six folios of Coral Gables Section L Block 15 (PB 8-85). Pulled 4 September 2026.
- Miami-Dade County Official Records — deed Book 33258, Page 591 (Alhambra Parc, 15 June 2022); Book 34156, Pages 0179 and 0183 (Biscayne Boulevard, March 2024); Book 34237, Page 4437 and Book 34242, Page 0081 (448 NE 39th Street, May 2024).
- Miami-Dade County Property Appraiser property search — the free public tool used for every figure above.
- Kempinski Residences Miami Design District and Coral Gables — the project and neighbourhood records this article draws its addresses from.
Josh Stein · Florida real estate sales associate, license SL3057661 · selling South Florida since 2002 · more than $1 billion closed.
Looking at a pre-construction contract and want the site checked first? Ask me and I will pull every folio on the block and send you the owners of record before you sign.