Posted Sep 17, 2018, 10:54 PM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Great State of NJ
Posts: 49,333
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MIAMI | 255 Northeast 1st Street | 701 + 597 FT | 63 + 55 FLOORS
Israeli Firm In Contract To Buy Downtown Parking Garage, Could Be Redeveloped
Quote:
A 756-space downtown Miami parking garage is in contract to be sold to Mishorim, an Israeli real estate company.
The seven-story garage has been used for the SunTrust International Center office tower, but is no longer needed by office tenants, a source told the SFBJ.
The .86-acre property has been marketed as a potential redevelopment site. It has the most intense zoning possible in downtown Miami, and allows a building of up to 1,049 feet. The Yotelpad development site is across the street.
Mishorim is paying $18.25 million, including $13.95 million cash and $4.3 million assumption of debt.
Cushman & Wakefield was the listing agent.
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NXT
Last edited by Urbannizer; Jul 16, 2019 at 3:22 AM.
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