Real Estate

Urbanica Management LLC Purchases Miami Beach Site For $40M

6747 Collins Avenue Site In Red

Urbanica Management LLC has purchased a 1 acre site in Miami Beach located at 6747 Collins Avenue for $40 million, according to The SFBJ.

The vacant property was sold by China City Construction Company.

Urbanica Hotel plan on building a 20 story hotel with 200 rooms and beginning construction at the end of next year.

The Bentley Hotel On Ocean Drive Sold For $28M

The Bentley Hotel Ocean Drive

The Bentley Hotel Ocean Drive

The Bentley Hotel located at 510 Ocean Drive has been sold for $28 million, according to The Real Deal.

The building was sold by JKR Bentley Holdings LLC and purchased by Ocean & 5th Commericial LLC.

The 3 story Art Deco style hotel was built in 1939 and designed by John & Coulton Skinner.

In 1980, there was a Sanchez Restaurant on the ground level that has now become a TGIF Friday’s Restaurant.

800 Brickell Office Building Sold For $126M

800 Brickell Office Tower

The 15 story office tower, 800 Brickell, has just sold for $126 million, according to The Daily Business Review.

The building was purchased by Gatsby Enterprise and sold by RREEF America. RREEF America purchased the building for $111.6 million in May 2015.

800 Brickell was built in 1981 and featured in an episode of Miami Vice.

Mayfair Hotel In Coconut Grove Purchased For Over $40M

Mayfair Hotel Coconut Grove

Mayfair Hotel Coconut Grove

The Iconic Mayfair Hotel in Coconut Grove been purchased for over $40 million by Brookfield Asset Management, according to The Real Deal.

Completed in 1985, it was designed by architect Kenneth Treister, who also designed the nearby Office in the Grove and The Yacht Harbour Condo.

The hotel has 179 rooms with a rooftop pool, spa, fitness center and restaurant.

The Mayfair Hotel was last purchased for $27.6 million by Mayfair CLTG Holdings in 2014.

Edgewater Site Sold For $13.65M

2927 NE 4th Ave

A 50,750 square foot site located at 2927 NE 4th Ave in Edgewater has sold for $13.65 million, according to The Real Deal.

The lots were purchased by DLC Capital Management and sold by AR Edgewater Investments.

The site can be zoned for 36 stories.

Virgin MiamiCentral Offices Sold For $159M

Florida East Coast Industries has sold the office buildings 3 MiamiCentral and 2 MiamiCentral for $159 million to Shorenstein, according to The Real Deal.

3 MiamiCentral was completed December 2017 and has 90,000 square feet of office space and 35,000 square feet of retail. 2 MiamiCentral, which was completed last year has 190,000 square feet of office space.

2.1 Acre 99 Riverside In Brickell Listed For $90.5M

99 Riverside Site

A 2.1 acre site in Brickell located at 99 Southwest 7th Street, 625 Southwest 1st Avenue and 66 Southwest 6th Street could get $90.5 million from a buyer, according to The Real Deal.

The site is known as 99 Riverside was previously listed for sale in May 2014 and was called Waterside at Brickell.

The site has potential for an 80 story tower with 1,400 residential units.

Nearby, Swire Properties are building two towers at 52 stories and 64 stories as part of the Brickell City Centre expansion.

Also next to 99 Riverside is the proposed Edge on Brickell that would be 58 stories.