Saturday, April 19, 2014

South Beach, FL Office Condo Hits the Market at $10 Million


South Beach office condo, 1680 Michigan Avenue, Miami Beach, FL


Arthur Porosoff
MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced it has received the exclusive listing for a 15,863-square-foot office condo on the seventh floor of the 11-story office building at 1680 Michigan Ave. in Miami’s South Beach neighborhood.

 The listing price is $10,000,000. Arthur Porosoff, vice president investments, and Ryan Shaw, senior associate, both in Marcus & Millichap’s Miami office, are representing the seller, a Miami Beach-based limited liability company. 

            “1680 Michigan is one of the few buildings in the Lincoln Road area with floor-to-ceiling glass windows, an on-site parking garage and a concierge,” says Shaw.

 “The 100-percent-occupied seventh floor condo presents investors with an opportunity to acquire a stable asset with a strong return in a desirable market with high barriers to entry.

Ryan Shaw
“The acquisition will provide the new owner with a range of long- and short-term options, including occupying a portion of the space, selling the 23 offices individually, selling the parking interest rights or retaining the asset,” Shaw concludes.

            The office building is situated on the corner of Michigan Avenue and 17th Street in Miami Beach, Fla. near both Interstate 395 (the MacArthur Causeway) and Interstate 95 (the Julia Tuttle Causeway). Lincoln Road, South Beach’s eight-block-long pedestrian walkway and shopping area, is next door.


For a complete copy of the company’s news release, please contact:

Gina Relva,
Public Relations Manager

(925) 953-1716

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