Miami Waterfront Property Draws Offer Topping $1.225 Billion

Genting Bhd., the Malaysian casino giant, has received four offers for a trophy Miami waterfront property once envisioned as the site of a multibillion dollar resort, including a bid exceeding $1.23 billion.

“There’s been no break in the receipt of offers — at and even above the $1.225 billion price,” Michael Fay, with broker Avison Young, said in an emailed statement.