🏆 Residential: The priciest residential transaction recorded in South Florida was in Miami, where a trust tied to Steve Martinez dropped $16.5 million on a penthouse at the newly built Vita At Grove Isle at 5 Grove Isle Drive. The project’s developer is Miami-based CMC Group, led by Ugo Colombo. The four-bedroom unit, a duplex, spans more than 7,000 square feet and has a private pool and rooftop terrace. The deal works out to more than $2,300 per square foot.
🏆 Commercial: The top recorded commercial deal in South Florida was in Miami Lakes. An LLC tied to New York-based Time Equities sold the National Molding manufacturing facility at 14427 Northwest 60th Avenue for $18 million. The buyer was an affiliate of Tenet Holdings Industrial Real Estate, which is based in West Hills, California. The one-story building measures nearly 105,000 square feet, pricing the transaction at about $170 per square foot.
📊Commercial: In Fort Lauderdale, a 43,000-square-foot parking garage at 300 Northwest Second Street changed hands for $17 million or nearly $400 per square foot. The seller was an LLC tied to train company Brightline. The buyer was Reve Ventures LLC.
📊Commercial: A warehouse with 11 units on a 1.6-acre lot at 3580 Northwest 54th Street in Miami traded for $11.8 million. The seller was an LLC managed by John Safi that had purchased the property in 2022 for $7.8 million. The buyer in the latest sale was 3580 NW 54 LLC, which has a Brooklyn address. The one-story property, built in 1955, spans more than 50,500 square feet, pricing the deal at more than $230 per square foot. SVN Commercial Realty represented the seller.
Correction: This article was updated to correct the seller in the top residential sale on Dec. 31, the $16.5 million penthouse at Vita at Grove Isle. The seller was a trust tied to Steve Martinez. The item also incorrectly stated the unit’s asking price and discount.