Merrick Manor continues to generate strong interest from investors seeking Class A commercial real estate in Coral Gables. The luxury mixed-use building developed by the Henry Torres-led Astor Companies, has sold out the commercial spaces following the $5.44 million sale of several retail condominiums, including two units occupied by popular fitness studio Sweat 440.
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Florida East Coast Realty Sells Brickell Waterfront Development Site For Record $363 Million In Mega-Deal
Florida East Coast Realty has sold a 2.5 acre prime waterfront development site in Brickell in a mega-deal for a record $363 million. The transaction breaks the previous record set when the former Miami Herald site in Downtown Miami sold for $236 million. The buyer paid roughly $145 million per acre, $3,340 PSF dirt value, for the site which is located at 1201 Brickell Bay Drive.
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Black Lion Purchases Iconic Hospitality Destination In Miami Beach's South of Fifth Neighborhood
Black Lion has acquired an iconic restaurant space in Miami Beach’s South of Fifth neighborhood. The property is located at 200 South Pointe Drive, in front of the luxury Continuum Residences condo development. Black Lion is preparing to announce flagship restaurant concept which will be new to the Miami market.
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Urbanica Sells Meridian Hotel To Miami-Based Investment Firm
The Urbanica Meridian Hotel, located at 418 Meridian Ave on Miami Beach was recently sold by Urbanica, the group responsible for facilitating the revitalization of the dwindling Fifth Street Corridor through their development of staple lodging, food, and beverage establishments. The hotel sold to Miami-based investment firm, Cambridge Lansdowne, for $30.5 million.
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Cordova Building In Fort Lauderdale Trades For $7 Million In Off-Market Office Transaction
The Cordova Building in Fort Lauderdale has sold for $7 million in an off market transaction. Southern Centers Associates I LP, led by longtime Fort Lauderdale developers and investors Kevin Buckley and Randall Kella, sold the 1500 Cordova Road property to Sunrise-based Centerline Capital Advisors.
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North Miami Beach Financial Center In Opportunity Zone Trades For $9.3 Million
The North Miami Beach Financial Center, a 2.47-acre site featuring a two-story Regions Bank building located in an opportunity zone in North Miami Beach, has sold for $9.3 million. Ivan Herrera of Florida Royalty Investments Group LLC acquired property from Alberto Lensi of Addi Properties. Adam J. Tiktin and Greg Matus of Franklin Street’s Florida Investment Sales Team represented the seller in the transaction.
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KUSH Building In Wynwood Sells For $2.6 Million
2003 N Miami Ave., a mixed-use property which is home to longtime Wynwood staple restaurant KUSH, has sold for $2.6 million. The transaction closed on March 25. Matt Kuscher, owner of Kush Property LLC, purchased the property from Michael Lilov. Both sides of transaction were overseen by Devlin Marinoff, Tony Arellano P.A. and David Richman of DWNTWN Realty Advisors.
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Naftali Group Acquires Miami Worldcenter Development Site For $41 Million, Plans Two Supertall Residential Towers
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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