ONE Sotheby’s International Realty Global Commercial Director Manny Chamizo III, the exclusive sales representative for Merrick Manor’s 20,000 square feet of prime ground-floor commercial space, brokered the sale.
Berkadia Managing Directors Scott Wadler, Brad Williamson, and Matt Robbins, Senior Managing Director Mitch Sinberg, and Vice President Michael Basinski of Berkadia South Florida arranged the loan on behalf of the Miami-based sponsors.
The approved plans included 180 residential units, 70 hotel rooms and 9,508 square feet of ground-floor retail.
VSRE has also been contracted to develop apartment buildings, retail, and offices.
Next, Latitude Group will pursue the construction permit at the 59,000-square-foot site at 12-24 Crandon Blvd.
JLL Capital Markets arranged the sales of the 70,288-square-foot Shops at Sunset Lakes in Miramar, Florida and the 109,811-square-foot Town Center Shops at Jensen Beach.
Franklin Street’s South Florida Investment Sales Team of Greg Matus, Adam Tiktin and Alex Lazo, along with Red Rock Realty’s Norman Matus, arranged the sale on behalf of the seller.
The development property consists of office, multifamily and retail elements.
A study predicts 45% to 50% increases in Florida, including in inland areas — and a doubling of premiums won’t be out of the question.
Local downtown real estate investor Shai Ben Ami, Broker-Principal of Urban Core, represented Centro Retail Downtown, an entity managed by Ben-Ami along with Israeli public company partner Mishorim Investments, as well as the buyer, Ocean Bank, in the sale and purchase.