Done Deals: DWNTWN Realty Advisors' Tony Arellano and Devlin Marinoff close $6.5 million Development Site transaction in Miami’s Design District

Friday, August 27, 2021

DWNTWN Realty Advisors' Tony Arellano and Devlin Marinoff close $6.5 million Development Site transaction in Miami’s Design District

Tony Arellano

MIAMI, FL – DWNTWN Realty Advisors Co-Founders and Managing Partners Tony Arellano and Devlin Marinoff closed another high-profile transaction in Miami’s Design District, a neighborhood the power brokers have played a pivotal role in shaping over the years.

In the newly completed deal, prominent Australian furniture designer Harbour Outdoor paid $6.5 million for a site that will eventually be the home of a flagship showroom.

Devlin Marinoff

The sale of the 170 NE 38th St. property closed on Aug. 20. The site includes an existing 3,224-square-foot retail building and is zoned for development of up to 20 stories.

Arellano and Marinoff were exclusively retained to market the site for sale.

Aaron Labovitz and Brandon Lumish, principals of Miami-based ABL Real Estate Partners, and Miami Beach-based Joyce Gato of Douglas Elliman Real Estate represented the buyer in the transaction.

This sale is the 22ndtransaction totaling more than $205 million completed by Arellano and Marinoff in the district’s four-block pedestrian core over the last seven years.

Joyce Gato

These sales represent most of the district transactions not involving Dacra’s assemblage, filling the gaps around the district’s core and making DWNTWN the neighborhood’s market leaders.

Joe Fernandez

“This transaction is the culmination of a creative global marketing process to identify the right buyer,” Arellano said. “Harbour Outdoor is a perfect addition to the luxurious and distinct retailers that give the Design District its identity and appeal.”

DWNTWN is a market leader in the Design District. Arellano and the firm’s Joe Fernandez are leasing up Design 41, a luxury retail building with 44,029 square feet of office, retail and showroom space at 112 NE 41st St.

Arellano and Marinoff are also marketing a retail building for sale at 3740 NE Second Ave. The property is in an Opportunity Zone and has future development potential.

Aaron Labovitz

Founded in 1976 by the Condos family, Harbour crafts hand-made furniture in the family’s Sydney workshop.

Brothers Harrison and Nicholas Condos expanded the company to include an export arm: Harbour Outdoor. Using Australia’s modern beach houses that blend into the rugged coastline as inspiration, the designers fuse traditional and modern elements into their designs.

The Design District site fronts I-195 and has I-95 exposure. It is directly adjacent to more than 1,000 parking spaces.

“This asset truly has unmatched access and highway visibility,” Marinoff said. “The arrival of Harbour Outdoor underscores how the Design District keeps evolving and expanding.