Real Estate

Brickell City Centre Office Buildings Sold $163M

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Two Brickell City Centre

Two Brickell City Centre

Swire Properties has sold Two Brickell City Centre and Three Brickell City Centre for $163 million, according to The Real Deal.

The two office buildings are located within Brickell City Centre at 78 and 98 SW 9th Street and were purchased by Northwood Investors. Tenants include WeWork and Ackerman LLP.

The 1.05 billion Brickell City Centre was completed in 2016 and includes Rise Brickell City Centre, Reach Brickell City Centre and The East Hotel.

Future plans of Brickell City Centre include two towers at 54 stories and 62 stories.

Paris Theater Sold For $13M In Miami Beach

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Paris Theater in Miami Beach

Paris Theater in Miami Beach

The Paris Theater located at 550 Washington Ave in Miami Beach has been sold for $13 million, according to The Real Deal.

The 25,589 square building, built in 1945, was purchased by Massa Investment and was previous sold in 1992 for $975,000.

No plans have been revealed for the site.

Block A At Miami Worldcenter Purchased For $18.85M

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Block A At Miami Worldcenter

Block A At Miami Worldcenter has been purchased for $18.85 million, according to The Miami Herald.

1 acre of the site was purchased by Akara Partners with plans to build two towers. The first phase will include a 38 story Kinect Miami with 450 units, 10,000 square feet of retail and 20,000 square feet of co-working space.

The site was originally listed October 2019.

Construction on Kinect Miami will begin first quarter 2021 and be completed in 2023.


TBT - Miami Tower Sold For $220M

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The Lights of The Miami Tower

TBT (May 24, 2016) - 4 years ago the Miami Tower was sold for $220 million. Since the sale, the tower has changed to LED lights from the manual spotlights.

The iconic Miami Tower has sold for $220 million, according to The Real Deal.

The 47 story tower was built in 1987 and was designed by architect I.M. Pei. It is famous for its changing lights, which can be seen for miles in Miami. While under construction in 1984, the building caught fire on the ninth floor, which delayed work for weeks. 

Originally called CenTrust Tower, the building has been featured in Miami Vice, both the T.V. show and movie, and Gloria Estefan even filmed a music video on the rooftop. 

I&G Miami LLC purchased the 618,990 square foot building in 2010 for $105.5 million before it was bought by an affiliate of Sumitomo Corporation of America. 

Lot In Miami A&E District For Sale At $21M

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1550 NE Miami Place Site

A .85 acre site next to the under construction Miami Plaza tower at 1550 NE Miami Place in the Arts & Entertainment district is for sale at $21 million, according to The Real Deal.

The lot is being sold by the Kluger Family and is zoned for 24 stories and 427 residential units.

Recently completed building in the vicinity include Art Plaza, Square Station and Canvas Condo.

Coconut Grove Office Buildings Sold For $47M

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3225 Aviation Avenue in Coconut Grove

Two offices in Coconut Grove, located at 3225 Aviation Avenue and 3250 Mary Street have been sold for $47 million, according to The Real Deal.

The buildings were purchased by Madison Marquette and sold by Allegra Holding, who purchased the properties in 2015 for $42 million.

Downtown Miami Museum Tower Sold For $65M

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Museum Tower

Museum Tower

Bridge Investment Group has purchased Museum Tower at 150 West Flagler Street in Downtown Miami for $64.5 million, according to The Real Deal.

Gaedeke Group was the seller of the Class A office building with 259,666 square feet, which purchased the building in 1995 for $27.6 million.

Bridge Investment Group will put $4.5 million in renovations to the building including the lobby and exterior.