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The Real Deal Miami

Collins Avenue oceanfront deals total $70M

March 29, 2012 04:30PM

Two oceanfront deals totalling $70 million have recently been struck along Collins Avenue, the South Florida Business Journal reported.

A real estate investment group led by Manuel Grosskopf paid $50 million for three oceanfront parcels on the 9300 block of Collins Avenue in Surfside. The deal works out to $715 per square foot as the properties total 70,000 square feet.

Meanwhile, Palermo Beach bought a 32,000-square-foot lot further down the avenue on the 17100 block in Sunny Isles, between the Jade Ocean and Ocean four condos, for $20 million. [SFBJ]