A prime commercial property in Miami Beach’s Sunset Harbour neighborhood has traded for $28.5 million, signaling continued investment momentum in one of the city’s most desirable enclaves. The 19,672-square-foot Office Depot building, situated on a 25,000-square-foot lot, was acquired by a private investor in a deal brokered by Avenue Real Estate Partners and Jordan Karp, LLC. The property is located at 1771 West Avenue and serves as a gateway to Sunset Harbour.
The transaction reflects the escalating land value in Sunset Harbour, a mixed-use district known for its proximity to luxury residential developments, waterfront access, and growing commercial presence. Avenue’s Aaron Butler, who represented the buyer alongside Jordan Karp, emphasized that the sale is indicative of Sunset Harbour's evolving role within Miami Beach’s real estate landscape.
“Sunset Harbour continues to be one of Miami Beach’s most sought-after neighborhoods, and this transaction reflects the increasing land value following the success of developments like 18 Sunset,” Butler noted.
Jordan Karp added that Sunset Harbour remains uniquely positioned within Miami Beach's high-end market. “Surrounded by some of the world’s most expensive residential real estate, Sunset Harbour serves as the area’s commercial hub — attracting investors focused on long-term growth opportunities,” Karp said.
The seller, George Jay Ltd. Partnership, was represented by Paul Snitkin of Anderson Carr.
Avenue Real Estate Partners, with offices in Miami Beach and Aspen, Colorado, has established a reputation for guiding high-profile transactions across South Florida’s commercial sector, with over $1 billion in deals completed. Jordan Karp, founder of his namesake brokerage Jordan Karp LLC, is known for orchestrating off-market deals across Miami’s luxury residential and commercial markets, including record-setting property sales on La Gorce Island, Allison Island, and in Brickell. Notable transactions include his $55 million off-market sale of the SLS Brickell Hotel to the Kastrati Group. To date in 2025, Karp has closed over $170 million in transactions.
The $28.5 million sale underscores both investor confidence in Sunset Harbour and the neighborhood’s trajectory as a high-value commercial and residential destination within Miami Beach.
Images via Jordan Karp LLC