The Real Deal Miami

RJF Finlay sells Miami Beach apartments for $11M

Apartments in the Museum District last sold for $5.8M in March 2012

June 23, 2015 12:00PM
By Katherine Kallergis

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Apartment building at 337 20th Street in Miami Beach

Apartment building at 337 20th Street in Miami Beach

A 56-unit apartment building in the Museum District of Miami Beach sold for $11.4 million, according to a deed recorded in Miami-Dade County records on Tuesday.

RJF Finlay, a real estate development, construction and management company, sold the Granite at Miami Beach apartments to Riviera Plaza Apartments. The buyer is tied to Intervest Properties, a Tulsa, Oklahoma-based commercial real estate investment firm.

The property, at 337 20th Street, was originally built in 1926 and renovated in 1992. It’s located two blocks west of Collins Avenue near the Bass Museum of Art and the Setai Miami Beach. The three-story building sits on an 18,750-square-foot lot, according to Miami-Dade County property records. It last sold for $5.8 million in March 2012, records show.

The gated site includes a private landscaped garden, according to RJF Finlay’s website.

In South Florida, Intervest Properties owns the office building at 910 Southeast 17th Street in Fort Lauderdale, the Harbor Walk office building at 1650 Southeast 17th Street in Fort Lauderdale, and the Kendall Marketplace at 13901 Southwest 88th Street, among other properties.

A mortgage for today’s sale was not recorded.