ONE Sothebys International Realtys Commercial Division recently completed two record-breaking commercial sales valued at $17.7 million in Little Havana and the Design District. The Zichelle Team headed both sales which closed on June 2. The larger of the two is a multi-family building, located at 1023 SW Sixth Court in Miamis Little Havana sector.
The building, named Miramar Apartments, went for $10.7 million. The previous record for a commercial sale in the area went for $247 per square foot; the 44-unit Miramar Apartments sold at $263 per square foot. A rise in interest in the area over the past years is due to prospective buyers who are overflow from the Brickell and Miami Beach markets.
For this property Zichelle represented the buyer, Burke Leighton Asset Management, and the seller, Miramar Apartments, LLC. Located in Miamis Design District, 3630 NE First Court sold for $7 million. At $773 per square foot it far surpassed the previous record for the area, at $473 from the sale of 4025 Northeast Second Avenue in 2007.
Lomback LLC bought the property, previously the site of a Kidco Daycare School, with plans to renovate the 9,000 square foot building into retail space. The buyer intends for the renovations to be on north corner of The District 36 project. The buildings surrounding area has changed drastically in the past 10 years with the build up of the Miami Design District and the Shops at Midtown Miami which brought luxury retail and residential buildings. Zichelle and Rodriguez represented the buyer of 3630 NE First Court, and Kidco was represented by Hilda Riano of Nations Home Realty Corp.ONE Sothebys International Realtys Commercial Division recently completed two record-breaking commercial sales valued at $17.7 million in Little Havana and the Design District. The Zichelle Team headed both sales which closed on June 2.
The larger of the two is a multi-family building, located at 1023 SW Sixth Court in Miamis Little Havana sector. The building, named Miramar Apartments, went for $10.7 million. The previous record for a commercial sale in the area went for $247 per square foot; the 44-unit Miramar Apartments sold at $263 per square foot. A rise in interest in the area over the past years is due to prospective buyers who are overflow from the Brickell and Miami Beach markets. For this property Zichelle represented the buyer, Burke Leighton Asset Management, and the seller, Miramar Apartments, LLC.
Located in Miamis Design District, 3630 NE First Court sold for $7 million. At $773 per square foot it far surpassed the previous record for the area, at $473 from the sale of 4025 Northeast Second Avenue in 2007. Lomback LLC bought the property, previously the site of a Kidco Daycare School, with plans to renovate the 9,000 square foot building into retail space. The buyer intends for the renovations to be on north corner of The District 36 project. The buildings surrounding area has changed drastically in the past 10 years with the build up of the Miami Design District and the Shops at Midtown Miami which brought luxury retail and residential buildings. Zichelle and Rodriguez represented the buyer of 3630 NE First Court, and Kidco was represented by Hilda Riano of Nations Home Realty Corp.ONE Sothebys International Realtys Commercial Division recently completed two record-breaking commercial sales valued at $17.7 million in Little Havana and the Design District. The Zichelle Team headed both sales which closed on June 2.
The larger of the two is a multi-family building, located at 1023 SW Sixth Court in Miamis Little Havana sector. The building, named Miramar Apartments, went for $10.7 million. The previous record for a commercial sale in the area went for $247 per square foot; the 44-unit Miramar Apartments sold at $263 per square foot. A rise in interest in the area over the past years is due to prospective buyers who are overflow from the Brickell and Miami Beach markets. For this property Zichelle represented the buyer, Burke Leighton Asset Management, and the seller, Miramar Apartments, LLC.
Located in Miamis Design District, 3630 NE First Court sold for $7 million. At $773 per square foot it far surpassed the previous record for the area, at $473 from the sale of 4025 Northeast Second Avenue in 2007. Lomback LLC bought the property, previously the site of a Kidco Daycare School, with plans to renovate the 9,000 square foot building into retail space. The buyer intends for the renovations to be on north corner of The District 36 project. The buildings surrounding area has changed drastically in the past 10 years with the build up of the Miami Design District and the Shops at Midtown Miami which brought luxury retail and residential buildings. Zichelle and Rodriguez represented the buyer of 3630 NE First Court, and Kidco was represented by Hilda Riano of Nations Home Realty Corp.ONE Sothebys International Realtys Commercial Division recently completed two record-breaking commercial sales valued at $17.7 million in Little Havana and the Design District. The Zichelle Team headed both sales which closed on June 2.
The larger of the two is a multi-family building, located at 1023 SW Sixth Court in Miamis Little Havana sector. The building, named Miramar Apartments, went for $10.7 million. The previous record for a commercial sale in the area went for $247 per square foot; the 44-unit Miramar Apartments sold at $263 per square foot. A rise in interest in the area over the past years is due to prospective buyers who are overflow from the Brickell and Miami Beach markets. For this property Zichelle represented the buyer, Burke Leighton Asset Management, and the seller, Miramar Apartments, LLC.
Located in Miamis Design District, 3630 NE First Court sold for $7 million. At $773 per square foot it far surpassed the previous record for the area, at $473 from the sale of 4025 Northeast Second Avenue in 2007. Lomback LLC bought the property, previously the site of a Kidco Daycare School, with plans to renovate the 9,000 square foot building into retail space. The buyer intends for the renovations to be on north corner of The District 36 project. The buildings surrounding area has changed drastically in the past 10 years with the build up of the Miami Design District and the Shops at Midtown Miami which brought luxury retail and residential buildings. Zichelle and Rodriguez represented the buyer of 3630 NE First Court, and Kidco was represented by Hilda Riano of Nations Home Realty Corp.
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