Developer Robert Wennett Sells Iconic Mixed-Use Parking Garage, 1111 Lincoln Road

Bayerische Versorgungskammer (BVK), a German investment fund, has purchased the iconic, mixed-use parking garage from developer Robert Wennett. The deal was reached at $283 million and includes adjacent retail space at 1664 Lenox Avenue and 1666 Lenox Avenue. The total assemblage comes to around 146,327 SF, all roughly equating to around $1,932 SF on the sale. BKV financed the purchase with a $66.85 million mortgage from Universal-Investment-Gesellschaft mBh. Wennett originally purchased the properties for $23.5 million in 2005 before undergoing heavy development. 1111 Lincoln Road is an award-winning, mixed-use parking garage designed by Herzog & de Meuron in 2010, that has become an iconic part of Lincoln Road, Alton Road and South Beach. The 7 story, exposed concreted, mixed-use parking structure itself features 94,488 SF of office space, 51,839 SF of retail space, and a 300 parking spaces which can also be used as event space. Ground floor retail space has floor-to-ceiling glass storefronts with high ceilings along with another retail space located on level 5 that also features floor-to-ceiling glass to provide amazing views of the Miami skyline. 

1111 Lincoln Residences from Robert Wennett, Designed by Herzog & de Mueron, Launches Sales

1111 Lincoln Residences, a mixed-use development just off of Lincoln Road by developer Robert Wennett, has launched sales for their two rooftop residences. The units are  3 bedroom smart homes over 2,155 SF with an additional 1,550 SF of outdoor space in the form of a private, Raymond Jungles landscaped and designed courtyard. Each is listed at $3.8 million and feature the finest interior stone interior finishes, as well as luxurious coutyards with stone flooring, pergolas, trees and foliage. 1111 Lincoln Residences was designed by Herzog & de Meuron, who have previously designed Wennett's iconic 1111 Lincoln Road parking garage, with a focus on designing from within the unit's own walls.