The Real Deal Miami

Rubell family buys Allapattah warehouse for $8.4M

Warehouse, built in 2001, last sold in 2012 for more than $3 million

March 10, 2016 12:00PM
By Katherine Kallergis

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The warehouse at 1101 Northwest 23rd Street

The warehouse at 1101 Northwest 23rd Street

A company tied to the Rubell family has purchased a warehouse west of Wynwood in Miami’s Allapattah neighborhood.

Miami-Dade County records show Fresh 1101 LLC, an entity managed by Jason and Mera Rubell, paid $8.35 million for the 50,225-square-foot building at 1101 Northwest 23rd Street in Miami. The Rubells own Rubell Hotels, which owns the Albion Hotel in Miami Beach, as well as the Rubell Family Collection and Contemporary Arts Collection in Wynwood.

Financing was not recorded as part of the sale.

The warehouse sits on a 2.1-acre lot and was built in 2001, according to property records. Nero Partners LLC, managed by Robert L. Netkin, sold the building. The company paid $3.125 million for the Allapattah site, which is zoned for industrial development, in 2012.

The Rubells listed the retail space at 311 Lincoln Road, next to the Albion, for sale last year. The family isn’t the only Wynwood investor to head west across I-95. Moishe Mana acquired the former MacArthur Dairy site at 2451 Northwest Seventh Avenue in July for $8.5 million. That site is zoned T6-8-0, which allows for 150 units per acre.