Real Estate

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.

TBT - Cocowalk In Coconut Grove Sold For $87.5M

Cocowalk in 2011

TBT (May 5, 2015) - 4 years ago Cocowalk was sold for $87.5 million. The Duffy’s Sports Grill was eventually abandoned and gutted, along with the Hooters Restaurant on the 3rd floor.

The Eastern portion and main rotunda at Cocowalk was completed demolished September 2018 and construction is now underway for the 5 story office One Cocowalk.

The outdoor shopping mall in Coconut Grove called Cocowalk has sold for $87.5 million, according to the Miami Herald

Federal Realty Investment Trust purchased the mall from PMAT Real Estate Investments who bought it for $87 million in 2006.

The mall opened in 1990 across from the Mayfair hotel and was a popular attraction when first opened. In recent years, tenants have left leaving as much as 20% of the space vacant. 

However, Coconut Grove is seeing a resurgence in the area with the addition of Grove at Grand Bay,  Regatta Park, and tenants such as the Clyde Butcher Gallery Coconut Grove, Harry's Pizzeria and Panther Coffee in the Engle Building.

Moishe Mana Purchases Another Downtown Miami Building For $2.3M

108 South Miami Avenue

108 South Miami Avenue

Moishe Mana has purchased a 7,610 square foot building located at 108 South Miami Avenue for $2.3 million, according to The Real Deal.

Mana purchased the 2 story building next to his current purchase for $3.5 million in August 2018.

Over $350 million has been spent by Mana to acquire Downtown Miami properties over the past 4 years.

Edgewater Site Listed For $4.9M

530 NE 29th St Site in Edgewater

A 6,300 square foot Edgewater site located at 530 NE 29th Street has been listed for sale for $4.9 million, according to The Real Deal.

Currently on the site is a 10 unit apartment building that can be zoned for 8 stories, but can go as high as 45 stories if joined with the 15 unit condo next to it on the water.