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
La Social’s original location at 7601 Biscayne Boulevard (Credit: Google Maps)

The Weekly Dish: La Social to open in downtown Miami, Salt & Straw is going to Wynwood 25 & more

Rendering of Virgin Hotels Miami and Richard Branson (Credit: Getty Images)

Richard Branson’s Virgin Hotels unveils plans for first Miami hotel, co-living included

Daily Digest Miami

PurduePharma family behind office purchase in downtown West Palm, Dwyane Wade wants out of Miami Beach manse: Daily digest

Babylon Apartments and Francisco Martinez-Celeiro (Credit: Google Maps and Wikipedia)

Showdown in Miami? Spaghetti Western star loses Brickell upzoning battle

Brickell House and Harvey Hernandez

Brickell House condo association scores $41M over failed parking garage

Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Finvarb and Cho land construction loan for mixed-use hotel near Brickell City Centre

Daily Digest Miami

Alleged Russian fraudster is co-owner of condo project in Chapter 11, Miami Design District property under contract: Daily digest

Rendering of Brickell 12 and Santiago Vanegas

Habitat Group buys land for new west Brickell project

arrow_forward_ios