Here’s what sold between $1M and $5M this week

Miami /
Jul.July 07, 2015 04:30 PM

Ravenswood Industrial sells for $2.5 million

A wholesale flooring company is trading up its warehouse space in Dania Beach.

Flooring King, which sells laminate and hardwood products, paid $2.5 million for the 29,770-square-foot Ravenswood Industrial building, just over a mile away from its current location. The company will move out of its current 5,000-square-foot space in favor of Ravenswood’s docking bays and abundance of space.

The property, built in 1963, was sold by a trust titled Trust Number NB-1, which is managed by Jerome Blank, Mark Blank and Marvin S. Florman.

Larry Genet and Tom O’Loughlin of commercial brokerage CBRE represented the trust, and Zoila Maya-Sustiel of Turnberry International Realty brought the buyer.

“This well-located warehouse distribution facility constituted a rare opportunity to buy in an extremely tight Southeast Broward industrial market,” said Genet in a statement. “Our team used its knowledge of buyers in the market to sell this asset off-market having no exclusive listing agreement.”

Office in Plantation Technology Park trades for $2.95 million 

An office in the Plantation Technology Park was just sold for $3 million to a Miami-based apartment investor.

Recom Plantation, which is managed by a group of lawyers based in Coral Gables, sold the 34,812-square-foot building to a company managed by Shlomo Chelminsky, whose family owns a portfolio of apartment buildings throughout Miami.

A chunk of his holding companies faced foreclosures in 2009 over delinquent loans, according to the South Florida Business Journal, and he has been sued for a roof collapse in one of his buildings.

The offices in the tech park, at 1700 Northwest 65th Avenue, are housed in a single-story building on a two-acre lot. The building is 100 percent occupied, and its tenants range from a fire-safety company that sells extinguishers to a printing company that stitches badges and name tags.

Chelminsky traded even on the sale — he paid $2.95 million for the property in 2005.

Commercial brokerage CapasGroup listed the property, while the buyer was represented by King Real Estate.

Miami River apartments sell for $1.8 million 

A two-story apartment building near the Miami River just traded for $1.8 million.

The 18-unit property was built in 1960 and sits just a few yards from I-95. Its owner, GRGS Corp., was transferred ownership of the property in 1994. The company is managed by Richard, Gabriel and Gustavo Socarras, along with Oscar Loret De Mola. They sold the building to another Miami-based company, 380 Brickell West, which is headed by Peter J. Neary and Eduardo A. Subervi.

Located at 380 Southwest 4th Street, the apartment complex is 8,503 square feet and sits on a 15,000-square-foot lot. It was on the market for roughly four months before closing, according to data from the MLS.


Related Articles

arrow_forward_ios
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
New York, Miami, Chicago, Los Angeles, San Francisco and Chicago (iStock)
As rent explodes nationally, Miami tops the charts
As rent explodes nationally, Miami tops the charts
Alta Developers’ Raimundo Onetto in front of the development site (Google Maps)
Heading south: Alta buys dev site for apartment complex near Homestead
Heading south: Alta buys dev site for apartment complex near Homestead
Grant Cardone and a rendering of LAs Olas Walk (Cardone Capital, ZOM/McNeal Realty)
Grant Cardone to buy $750M in SoFla apartments
Grant Cardone to buy $750M in SoFla apartments
The current building on Dania Beach (Google Maps)
Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...