The Real Deal Miami

Santona Corner trades for $17.5 million

New York investor ABC Properties acquires Coral Gables retail building

September 11, 2014 11:15AM

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Benjamin Silver and Douglas Mandel

Benjamin Silver and Douglas Mandel

Santona Corner, a retail property in Coral Gables, changed hands for $17.5 million.

ABC Properties of New York paid about $470 per square foot for the 1430 South Dixie Highway building in a transaction recorded on Wednesday, according to Miami-Dade County records. Santona Corner includes 37,130 square feet of retail space and a private parking garage with 159 spaces. The seller, Danny Taha’s Santona Corner LLC, completed the building in 2008.

No financing was recorded.

Marcus & Millichap first vice president of investments Douglas Mandel and associate vice president of investments Benjamin Silver arranged the sale.

“This was an opportunity for an investor to acquire a trophy retail asset across from the University of Miami with prominent and high exposure on busy U.S. 1,” Silver said. — Eric Kalis

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