Rapper Post Malone’s Management Label Buys Wynwood Office Building
DWNTWN Realty Advisors Co-Founders and Managing Partners Tony Arellano and Devlin Marinoff completed another successful property sale in the city.
The duo represented the seller of a Midtown Miami commercial building in a $5.55 million all-cash transaction that closed on Oct. 21.
Arellano and Marinoff listed the 235 NE 29 St. building for $5.65 million and nearly matched the asking price after generating tremendous interest in the property. Midtown Plaza LLC is the seller.
The recently constructed mixed-use building has a total of 12,075 square feet, with 8,405 square feet under air and 4,030 square feet on the rooftop. It features floor-to-ceiling impact glass windows and 360-degree rooftop views. The building is located next to a significant new development that will be anchored by Whole Foods.
“This transaction reflects the acceleration of durable commercial real estate fundamentals in Miami’s urban core,” Marinoff said. “The building’s location is truly phenomenal, with proximity to large-scale projects and three major highways (I-95, I-195 and I-395). It will be enticing to any retailer, restauranteur or office user seeking to be in Miami.”
Andrew Easton, Vice President of The Easton Group, represented the buyer, Electric Feel, the management label that reps rapper Post Malone.
DWNTWN, a market leader in Miami, has closed numerous high-profile investment sales transactions in 2021, including:
- The $6.5 million sale of a retail showroom at 170 NE 38 St. in Miami’s Design District
- The $13.3 million sale of the Wynwood Arcade, a retail and restaurant building at 50 NW 24 St. in Miami’s Wynwood
- The $11.6 million sale of a multifamily portfolio at 5601 NW First Ave. in Little Haiti
- The $10.5 million off-market sale of a former production studio site at 12100 NE 16 Ave. in North Miami
“We are having a record-breaking year by making creative deals happen,” Arellano said. “In selling this Midtown Miami property, we leveraged our unique understanding of the broader neighborhood to educate prospective buyers on the building’s potential. We have some exciting new deals in the pipeline to close a banner year on a strong note.”
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