Related Group wants to build another residential project in Edgewater, and has submitted an offer to buy a bayfront property.

A letter sent by a tipster shows that Related has offered $24 million for the property.

Related Group President Carlos Rosso signed the letter.

The land that Related Group wants is owned by the Biscayne 21 condo association. It is currently used as surface parking and as a tennis court and recreation area.

Two towers would be built, the letter states. Each would have 200 residential units, likely condos.

Biscayne 21 is a condo building with 192 units, built in 1964.

The tipster said that another group has been working to buy out units in the existing building in order to gain control of the board. HUS, LLC, managed by broker Bragi Sigurdsson, is said to have purchased around 40 units so far

Source: The Next Miami