The project will consist of approximately 509 luxury rental apartments, 275,000 square feet of Class A office space, 25,000 square feet of ground-floor retail space, a 20,000-square-foot open-air retail plaza, and a parking garage.
The project is being designed by renowned architect Kobi Karp and will consist of 30 stories.
Sean Lutz, Dan Elliot, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a Nevada-based private investor, in the 1031, all-cash transaction.
The 188,389-square-foot property encompasses seven buildings and 29 tenants.
The project will feature 304 apartments, more than 18,000 square feet of retail, and 63,000 square feet of office space.
Jonathan De La Rosa and Eduardo Toledo, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller.
The project consists of 188 rental apartments and 45,000 square feet of office space and retail space.
In the less than 24 hours since Bloomberg first reported the listing, investors from the U.S., Latin America, Europe, the United Arab Emirates and Canada have already expressed interest in acquiring the site.
Kristol and Kirk D. Olson, both senior vice presidents in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a Florida based private investor who originally purchased the center from the developer.
Slated to open in the fall of 2023, the globally-influenced seafood restaurant will be located in Miami Beach’s SoFi neighborhood.
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