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| 1409 Washington Avenue, South Beach, FL |
MIAMI BEACH, FL, June 10, 2015 – Marcus & Millichap
(NYSE: MMI), a leading commercial real estate investment services firm with
offices throughout the United States and Canada, today announced the sale of a
10,592-square foot mixed-use Art Deco property located in Miami Beach.
The
asset sold for $4,480,000 representing $423 per square foot.
Arthur D. Porosoff and Ronnie Issenberg, vice president investments, Gabriel Britti and Scott C.
Sandelin, associate vice president investments, and Alejandro D'Alba, an associate, in Marcus & Millichap’s Miami
office, had the exclusive listing to market the property on behalf of the
seller, a limited liability company from Miami Beach.
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| Ronnie Issenberg |
The buyer was a limited liability company
from Bay Harbor Islands, Fla.
“Washington Avenue is experiencing tremendous investor
activity. This was an opportunity for the buyers to purchase a property
perfectly situated to become one of Miami Beach’s next trendy boutique hotels,”
says D’Alba.
The building is comprised of a 3,390-square foot retail
space, 12 apartments, and a 1,853-square foot storage space leased to a local
retailer.
The property is located at 1409 Washington Avenue in Miami
Beach.
For a complete copy of
the company’s news release, please contact:
Kirk A. Felici
First Vice President/District Manager
Miami, FL
(786) 522-7000
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