Development site west of Brickell sells sixfold

Miami /
Aug.August 04, 2015 11:15 AM

A 0.72-acre assemblage west of the Brickell Financial District and near Miami’s Little Havana neighborhood has sold to a group of Miami developers for $7.93 million, or about $253 per square foot.

Key Biscayne-based London Real Estate Company sold the three properties at 420 Southwest Seventh Street and around the corner at 427 Southwest Eighth Street. All three parcels, which are west of I-95, last sold for $1.2 million in March 2011, according to Miami-Dade County property records.

The buyer is Megacenter Brickell LLC, a company that lists Pablo Wichmann and Patricio Ureta as managers. Wichmann is a partner at Megacenter Business Parks, according to LinkedIn; Ureta purchased and developed properties in Brickell and Edgewater.

On the north side of the block, Megacenter acquired two adjacent lots, including the northeast corner of Southwest Seventh Street and Southwest Fourth Avenue, which together span 17,366 square feet. Around the corner, the LLC acquired a 14,000-square-foot lot at 427 Southwest Eighth Street.

Sunshine Dade Investments owns the two adjacent parcels, which total 18,865 square feet. The LLC is tied to Sunshine Gasoline Distributors in Doral.

The development site is less than 2.5 miles east of Astor Group’s InTown condominium development, and blocks away from Swire Properties’ Brickell City Centre.


Related Articles

arrow_forward_ios
Founders Fund partners Peter Thiel and Keith Rabois (Getty/Illustration by Kevin Rebong for The Real Deal)
Silicon Valley’s Founders Fund inks Miami lease
Silicon Valley’s Founders Fund inks Miami lease
Renderings of the One Brickell project with Jorge Pérez  and Jon Paul Pérez (Photos via Wikipedia Commons, Related)
Related to partner with Baccarat on major Brickell high-rise development
Related to partner with Baccarat on major Brickell high-rise development
5040 Northwest Seventh Street (Google Maps, iStock)
Northeast Capital pays $15M for Miami office building
Northeast Capital pays $15M for Miami office building
2052 Southwest First Street and Alfonso Macedo of Ocean Bank (Photos via Google Maps; LinkedIn)
Little Havana multifamily project scores construction loan
Little Havana multifamily project scores construction loan
Yamal Yidios and an aerial view of the property (Ytech)
Ytech completes $12M deal for Brickell high-rise dev site
Ytech completes $12M deal for Brickell high-rise dev site
Continuum 2.0? Bruce Eichner teams with TSG to develop Brickell tower
Continuum 2.0? Bruce Eichner teams with TSG to develop Brickell tower
Continuum 2.0? Bruce Eichner teams with TSG to develop Brickell tower
Michael Stern and a rendering of the project (Getty, JDS Development/SHoP Archictects)
Michael Stern pays $24M for future site of 62-story Brickell tower
Michael Stern pays $24M for future site of 62-story Brickell tower
Major Food Group's Jeff Zalaznick and the Design District location (iStock)
New York restaurateur Major Food Group to open three concepts in Miami
New York restaurateur Major Food Group to open three concepts in Miami
arrow_forward_ios

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

Loading...