The Real Deal Miami

LMNT venue near Midtown sells for $10.4M

It last sold for $2.1M in 2008

July 22, 2015 09:45AM
By Katherine Kallergis

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LMNT complex and adjacent parking lots in Wynwood

LMNT complex and adjacent parking lots in Wynwood

The LMNT entertainment venue in Wynwood has sold for $10.4 million, Miami-Dade County records show.

New Midtown Studios 55, a company led by Miami artist Gino Tozzi, sold the 0.65-acre site to Tirrenia Developments, a Miami-based firm led by Giampiero Di Persia.

The property is on the northeast corner of Northwest 36th Street and Northwest First Avenue. It last sold for $2.1 million in 2008, according to Miami-Dade property records. It had been listed for $12.9 million, according to Metro 1.

LMNT’s 13,680 square feet of indoor and outdoor space can hold up to 3,000 guests. It also features state-of-the-art recording and production studios, five studio offices and two workshops, a 3,000-square-foot art gallery with tall ceilings, mezzanine office space and an adjacent parking lot that doubles as a concert area.

The property is within walking distance of Midtown. One block east is the planned mixed-use residential tower, District 36, as well as Triptych, a planned 20-story, mixed-use hotel development.

Tirrenia sold a Design District building at 3800 Northeast Miami Court, which the company developed, for $26 million in January, according to Miami-Dade property records.