Southeast Financial Center Sold For $500M

December 05, 2016 in Downtown Miami, Miami, Real Estate

After being put on the market in July, the Southeast Financial Center has been purchased for $500 million, according to The Real Deal.

The 55 story office tower in Downtown Miami was built in 1984 with 1.225 million square feet in office space. The Skidmore, Owings & Merrill designed tower was purchased by billionaire Armando Ortega, who owns the clothing chain Zara.

The iconic Miami Tower recently sold for $220 million earlier this year.

Update: The official sale price is $516.6 million

OKO Group Purchases Edgewater Site For $54M

November 23, 2016 in Edgewater, Miami, OKO Group, Real Estate

Russian billionaire Vladislav Doronin of OKO Group has purchased a 2 acre Edgewater site for $54 million, according The Miami Herald.

The Edgewater site is located between NE 26th Terrace and NE 27th Street in front of Bay House. The site is just North of OKO Group's planned 57 story Missoni Baia condo, which launched sales earlier this year. The Missoni Baia lots were purchased for a total of $39 million in 2014 and 2015.

The sellers of the newly purchased 2 acre site are the Jesuit Fathers of the Province of the Antilles where most of the buildings were built in the 1930's.

OKO Group also has a lot in the heart of Brickell at 830 SE 1st Avenue and a lot in South Brickell on the edge of Biscayne Bay at 175 Southeast 25th Road where they are planning a 48 story condo.

Wynwood Property Sold For $13M

November 03, 2016 in Miami, Wynwood, Real Estate

David Edelstein of TriStar Capital and attorney William S. Weisman have purchased a building in Wynwood located at 264 Northeast 26th Street for $13 million, according to The Real Deal.

The building was built in 1950 and sits on a 10,000 square foot lot.

They buyers plan on renovating the building and bring it to character with the Wynwood vibe.

New World Tower Sold For $84M

October 19, 2016 in Downtown Miami, Miami, Real Estate

The New World Tower office building in Downtown Miami has sold for $84 million, according to Curbed Miami.

The 30 story office tower located at 100 South Biscayne Boulevard was built in 1963 and has 324,407 square feet of space.

The buyer of New World Tower is East End Capital who also recently developed The Wynwood Arcade and the proposed Wynwood 25. East End Capital plans to spend $10 million on upgrading the building.

New World Tower last sold ten years ago for $60.4 million.

Wynwood Property Sold For $53.5M

October 05, 2016 in Miami, Real Estate, Wynwood

Properties located at 2600 NW 2nd Ave and 2660 NW 2nd Ave have sold for $53.5 million, according to The Miami Herald.

The seller was the Mitrani Family and the buyer an affiliate of ASG Equities. The purchase includes a lot size of 42,000 square feet where the buyers plan an building a two story retail space called Wynwood Park. Wynwood Park would encompass under an acre of green space that would also include the rooftop.

Wynwood Park will be designed by MKDA, with plans finalized in the next few weeks and construction completed in the next 18 - 24 months.

Update: Renderings of Wynwood Park revealed below via The Next Miami