Alex Karakhanian of LNDMRK Development has sold a trophy commercial building in Miami’s MiMo District fronting Biscayne Blvd for $6 Million. The adaptive-reuse property was sold completely vacant and without any TDRs or TDDs, which are in contract to be sold to a developer. The building, which is located at 6654 Biscayne Blvd, spans 10,500 SF on a 19,200 SF lot which is zoned T5-O/T5-L - T5-O: 13,200 SF +/- T5-L: 6,000 SF +/-. The transaction was brokered by Lyle Chariff and Mauricio Zapata of Chariff Realty Group.
Karakhanian, who owns several other properties in the area and has sold others, has long been invested in the growth of the MiMo neighborhood. He initially purchased 6654 Biscayne Blvd, which was previously the Center for Independent Living of South Florida, for $4.6 million in 2016 before renovating the property into office / retail.
Image via Chariff Realty Group
