Brickell site sells for $6M, developer plans mixed-use project

The land, near Brickell City Centre, sold for about $417 a foot

TRD MIAMI /
Sep.September 29, 2016 02:15 PM

A developer paid $6.25 million for a pair of low-rise buildings in west Brickell with plans to build a new mixed-use project. 

The properties, at 239 and 243 Southwest Ninth Street in Miami, total 15,000 square feet and sold for about $417 a foot, Cervera Real Estate’s Karen Elmir, who arranged the off-market deal, told The Real Deal.

Metro Apartments LLC sold the buildings to Santiago Vanegas, a broker and real estate developer with the Habitat Group. Vanegas could not immediately be reached for comment, but Elmir said he plans to build a mixed-use project.

The seller is controlled by Maria Ramon and Alberto J. Cabrera. The Miami-based company paid $1.08 million for the buildings in 2011, property records show. They were built between 1961 and 1972 and include 16 apartments.

Saulo R. Perez, a Miami-based real estate attorney, represented the seller.

The properties are surrounded by low- and mid-rise apartment buildings, and are west of Brickell’s high-rises, including Brickell City Centre to the northeast. Swire Properties, the developer behind BCC, is already planning for phase two, and has purchased land on Seventh Street for a future expansion.

Last year, Carlos Mattos bought a site on Sixth Street for $9 million with plans for development.


Related Articles

arrow_forward_ios
(Credit: iStock)

Luxury condo prices drop in downtown Miami amid lockdown

Luxury condo prices drop in downtown Miami amid lockdown
1420 South Miami Avenue (Credit: Google Maps)

China City’s Brickell development site under new ownership

China City’s Brickell development site under new ownership
Michael Stern and a rendering of the project (Credit: JDS Development/SHoP Archictects)

Michael Stern sued over Brickell mixed-use tower with fire station

Michael Stern sued over Brickell mixed-use tower with fire station
Four Seasons Hotel Miami at 1435 Brickell Avenue (Credit: Averette/Wikipedia)

Four Seasons Hotel Miami, DoubleTree near MIA lay off hundreds

Four Seasons Hotel Miami, DoubleTree near MIA lay off hundreds
Fabio and Sebastian Faerman with 801 Brickell Bay Drive

Turkish nightclub mogul buys Brickell space for first US location

Turkish nightclub mogul buys Brickell space for first US location
Jake Vogel and the upper penthouse 6201 at Brickell Flatiron (Credit: Facebook)

Marine industry exec drops anchor at Brickell Flatiron

Marine industry exec drops anchor at Brickell Flatiron
Steven Hurwitz and Ryan Severino

JLL’s top economist forecasts low probability of a recession

JLL’s top economist forecasts low probability of a recession
From left: Carlos Mattos, Nusret Gökçe, Panorama Tower and 999 Brickell (Credit: Getty Images)

Panorama Tower debris damaged building housing Salt Bae joint: lawsuit

Panorama Tower debris damaged building housing Salt Bae joint: lawsuit
arrow_forward_ios

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

Loading...