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Real Estate
90 SW 8th St
After initially being for sale since August 2014, 90 SW 8th St has been sold for $29.5 million to Gazit Horizons.
The 21,210 square foot lot was originally under contract by Barlington Group with plans to turn the building into retail and a rooftop restaurant.
The three story building is located next to the under construction Solitair Brickell and the recently completed Brickell Heights.
Conrad Hotel Brickell in the Brickell Arch
The Conrad Hotel in the building Brickell Arch has sold for $72 million, according to The Miami Herald and was purchased by Mast Capital.
The Conrad Hotel with 203 guest rooms, is located at 1395 Brickell Avenue and is within the building Brickell Arch, which sold for $142 million in September 2015 to Dallas based Gaedeke Group. The hotel has been listed for sale since July 2015 and was expected to sell for over $100 million at the time.
Originally called Banco Espiritu Santo, the 36 story building was completed in 2004 and designed by Kohn Peterson Fox Associates. The building is known for its 30 story arch on the front façade of the glass.
Mast Capital is planning on renovating the lobby, pool, restaurant and guest rooms.
Melo Group has purchased a 45,433 square foot lot located at 501 North Miami Avenue for $10 million, according to The Real Deal.
The lot was sold by the First Baptist Church and as part of the deal, Melo Group must build a 300 space parking garage for the Christ Fellowship Baptist Church.
Zoning allows for an 80 story building to 1,131 feet with up to 1,043 residential units.
The Northern 35,992 square foot part of the lot was sold for $18.1 million in March to Okan Group with plans to build a mixed use building.
Downtown Miami FedEx Building
The Downtown Miami FedEx Building located at 200 South Miami Avenue has sold for $37.25 million, according to The Real Deal.
The seller is Fifteen Group who purchased the 110,000 square foot building in 2014 for $19 million. The buyer has not been disclosed.
In November 2014, Fifteen Group purchased the First Church of Christ Scientist in Edgewater for $14.3 million.
1111 Lincoln Road
The iconic 1111 Lincoln Road designed by architects Herzog & de Meuron has been purchased by a new owner, according to The Miami Herald.
The 263 space parking garage with 40,000 square feet of retail and 110,000 square feet of office space cost $65 million and opened in 2010.
The property was purchased in 2005 by developer Robert Wennett for $23.5 million.
UPDATE: 1111 Lincoln has been purchased by German investment fund Bayerische Versorgungskammer for $283 million.
30 East Flagler Site
Developer Moishe Mana has purchased a 6,000 square foot lot in Downtown Miami located at 30 East Flagler for $4 million, per The Real Deal.
Mana has purchased $258.2 million is Miami real estate including The Biscayne Building last year for $24.5 million and plans for a 49 story micro apartments at 200 North Miami Avenue.
ASRR Capital Site
ASRR Capital with partners CNMB International and G-Resources have closed on a site in Edgewater for $33 million after being in contract since July 2016, according to The Real Deal.
The site spanning 60,000 square feet is located between NE 2nd Ave and NE 2nd CT between NE 17th Terrace and NE 18th St. ASRR Capital is planning to build two towers at 60 stories and 40 stories with 1,200 rental units, 20,000 square feet of retail and 350,000 square feet of office space.
The Padel Courts on the Southwest corner of the block was not included in the purchase.
