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.
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. This sale is the 22nd transaction totaling more than $205 million completed by the brokers in the district’s four-block pedestrian core over the last seven years. 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.
“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.”
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.
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.
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. The continued migration from high-tax states to Miami is fueling the growth of the district and nearby urban core neighborhoods.”
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