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Real Estate
4136 North Miami Avenue
A 16,900 square foot building located at 4136 North Miami Avenue in the Design District has sold for $10.1 million, according to The Real Deal.
The building was sold by developer Manny Varas and purchased by Perpetual Love Acquisitions LLC.
Sabadell Financial Center
The 30 story Sabadell Financial Center in Brickell has been sold for $250 million, according to The Real Deal.
The building was purchased by Parkway Properties and KKR and the seller is Prudential Real Estate Investors.
The building was built in 2000 along with the neighboring JW Marriott hotel and is located next to the tallest building in Miami - Panorama Tower.
The Sabadell Financial Center will be renamed 1111 Brickell.
MRR Development Site in Red
MRR Development has purchased a 1.42 acre Edgewater site located between NE 2nd Ave and NE 2nd Ct, according to The Real Deal.
The site allows for up to 1.9 million square feet for a building. Currently on the site is a Price Choice Supermarket and a Learning Nest Preschool.
The assemblage is located one block North of where Sapir Corporation purchased nearly a block of land for $33 million with plans to build a 60 story tower and a 40 story tower.
201 East Flagler
Moishe Mana has purchased a 2 story building located at 201 East Flagler in Downtown Miami for $12.9 million, according to The Real Deal.
The 29,042 square feet building built in 1947 sits on a 14,000 square foot lot.
Mana recently purchased 26,000 square feet of office space at 100 Flagler Street in March for $4.75 million.
Mana has purchased over $350 million in Miami real estate in Downtown Miami and Wynwood over the past 8 years.
SunTrust International Center
The 31 story SunTrust International Center located at 1 SE 3rd Avenue in Downtown Miami has been sold for $127 million, according to The Real Deal.
Built in 1969 on a 46,844 square foot lot, the building was purchased by PCCP LLC, a real estate investment firm in Los Angeles, and sold by Crocker Partners. Crocker Partners purchased the building for $82.4 million in August 2011.
The nearby Southeast Financial Center sold for $516.6 million in December 2016 and The New World Tower sold for $84 million in October 2016.
Miami Riverside Center
A deal to swap Miami Riverside Center, located a 444 SW 2nd Ave could go to vote in either August or November of this year, according to Miami Today.
The City of Miami has outgrown the building and is looking to sell the building in return for a developer to build a new office for the City elsewhere.
Miami Riverside Center was initially for sale in August 2015.
In July 2016, Adler Group won a bid to replace Miami Riverside Center with Nexus Riverside Central, that would have two 36 story rental towers with 900 units, 150 hotel rooms and 20,000 square feet of retail/restaurant space.
Adler Group also owns 1.6 acres of land next to Miami Riverside Center, which they purchased for $14.25 million in February 2016.
Margaritaville Hollywood
Margaritaville Hollywood Beach Resort has sold for $127 million to KSL Capital Partners, according to The Real Deal.
The 17 story hotel was built on 5 acres by Lon Tabatchnick and Starwood Capital Group and has 349 hotel rooms. Construction was completed in November 2015.
Construction photos of Margaritaville Hollywood Beach Resort can be viewed here.
