The New York-based developer Naftali Group has acquired a development site at 1016 NE 2nd Ave. in Miami Worldcenter for $41 million and is planning two supertall residential towers. The site was acquired in partnership with Cara Real Estate Management. The seller was Akara Partners who acquired the site for $18.8 million in July 2020.
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Sabal Development Sells 10-Acre Parcel To Lennar Homes For $24.5 Million In Off-Market Transaction
Sabal Development, a Miami-based builder and developer who specializes in luxury custom homes led by Pascal Nicolai, has sold a 433,422 SF, 10.17-acre, parcel located at 8290 SW 120th Street in Miami, Florida for $24.5 million to Lennar Homes. The off-market transaction closed on March 23, 2022 with no listing agents involved.
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Forte Capital Management Flips Wynwood Industrial Property For $11.2 Million In Off-Market Transaction
Forte Capital, led by Chaim Cahane, and Sheridan Capital have flipped 2830 NW Fifth Ave. in Wynwood for $11.2 million just months after acquiring the industrial property for $6.35 million in December 2021 from Alex Karakhanian’s LNDMRK Development. The off-market cash transaction was brokered by Jordan Karp.
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Office Building On Ponce de Leon Boulevard In Coral Gables Trades For $14 Million
An office building located on Ponce de Leon Boulevard in Coral Gables has traded for $14,050,000 in a value add, off-market deal. The 7-story, 87,134 SF office building was mostly vacant at the time of sale and is located at 2000 Ponce De Leon Blvd. The property features 7,500 SF of ground-floor retail space and 100 parking spaces.
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Wynwood Annex Sells For $49 Million To New-To-Miami-Market San Francisco-Based Buyer
Wynwood Annex has sold for $49 million to a new-to-market San Francisco-based buyer Brick & Timber Collective. The transaction was overseen by DWTNWN Realty Advisors who represented both the buyer and the seller. The milestone transaction underscores a paradigm shift in rates and market fundamentals and sets a new bar for the Miami office market
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Sabal Development Sells Hibiscus Island Spec Home For $15 Million To Cosmetics CEO
A brand new waterfront spec home by Sabal Development at 165 North Hibiscus Drive on Miami Beach’s Hibiscus Island has sold for $15 million to the CEO of Farmasi North America. Marko Gojanovic of ONE Sotheby’s International Realty and Alejandro Diaz Bazan of Jills Zeder Group represented the buyer while Dora Puig with Luxe Living Realty represented the seller.
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Sunset Islands Waterfront Home Trades For $11.5 Million In Off Market Deal
A waterfront home on Miami Beach’s Sunset Island III, located at 1775 West 24th St., has sold in an off market deal for $11.5 million, roughly $3,546 PSF. The buyer was represent by Mallory McGuire and Mirce Curkoski of The Waterfront Team at ONE Sotheby’s International Realty and the seller was represented by Jacqueline Groll and Albert Justo also of The Waterfront Team at ONE Sotheby’s International Realty.
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Core Wynwood Development Site Sells For $11.5 Million
UOVO Storage Deluxe has acquired a core Wynwood development site at 330 NW 29th Street for $11.5 million from Red Group Estate. The buyer was represented by Jordan Karp and the seller was represented by Tony Arellano of DWNTWN Realty Advisors. 330 NW 29th Street is currently two fully occupied buildings leased as creative office space spanning 10,939 SF.
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Miami-Based Private Equity Firm Iconic Equities Launches With Industrial Development Site Acquisition
Iconic Equities, in partnership with Trinity Capital Advisors, has announced the closing of 239 Jedburg Road in Charleston, roughly 115 acres of land located in the Summerville submarket. The firms plan to develop approximately 780,000 square feet of Class A logistics warehouses.
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One of The Last Vacant Development Parcels In Brickell Sells For $7 Million
One of the last development parcels in Brickell has sold for $7 million with plans for an approved and permitted 60 unit condo or apartment project. The 19,850 SF, .46 acre lot is located at 1621 SW 2nd Ave. in West Brickell, just a few blocks away from Brickell City Centre, SLS Hotel, Echo Brickell, Mary Brickell Village, and Brickell Bay Boardwalk.
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