The Real Deal Miami

Office building along Biscayne sells for $11.5M

38,000-square-foot tower last sold in 2005 for $6.6M

August 05, 2015 09:45AM
By Katherine Kallergis

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4700 Biscayne Boulevard

4700 Biscayne Boulevard

A Miami investor has sold a five-story office building in Miami, according to county records. 

The Sunset View Office Tower, at 4700 Biscayne Boulevard, sold for $11.5 million. An LLC led by Pablo Umansky was the seller. Miami Beach-based MGB Biscayne Blvd. Corp. was the buyer.

The building sits on a 33,620-square-foot lot between Biscayne Boulevard and Federal Highway. It was built in 1972, and last sold for $6.6 million in 2005, according to Miami-Dade County records.

The buyer lists a Miami Beach address matching that of High Hill Entertainment, a Hispanic media company. A mortgage for the sale was not recorded.

During the last real estate cycle, Umansky was principal of the Urban Group, a Miami Beach group of mostly Argentine investors that purchased boutique hotels, according to a Miami Today article in 2001.

In June, Nancy Karp sold a 52,889-square-foot commercial building at 3900 Biscayne Boulevard for $18.36 million to an affiliate of Miami-based Alta Developers. Karp is active on Biscayne: she also bought an office building in May on Biscayne Boulevard and Northeast 116th Avenue for $2.7 million with plans to renovate it; and in 2005, she acquired an office building at 2919 Biscayne Boulevard for $9.3 million, renovated it and sold it for $19 million last year, records show.