Barlington Group principals sell Little Havana property for $6.75M

Building and nearby lot sold at asking price

Miami /
Dec.December 12, 2017 10:40 AM

Martin Pinilla and Bill Fuller and the building at 1393 Southwest First Street (Credit: Barlington Group)

Barlington Group principals Bill Fuller and Martin Pinilla just sold a property in east Little Havana three months after putting it on the market.

Property records show 1393 LLC sold the office building and development site at 1393 Southwest First Street and 120 Southwest 14th Avenue for its asking price of $6.75 million to 1393 Building LLC, a company controlled by Miami attorney Jorge E. Blanco.

The property hit the market in September with Marcus & Millichap’s Alex Zylberglait. It’s zoned T6-12-O, which allows for at least 12 stories of development. For now, the four-story, 25,000-square-foot building is leased to the Family Resource Center of South Florida. The nonprofit has about nine years left on its 10-year lease, Zylberglait previously said. He could not immediately be reached for comment.

Marcus & Millichap’s Francisco Baserva brokered the sale with Zylberglait.

The buyer financed the deal with a $4.75 million mortgage from US Century Bank. Blanco could not immediately be reached for comment.

Together, the building and nearby lot total 28,000 square feet, the sellers said in October.

Records show they paid $1.45 million for the properties in 2012, investing $1.6 million into renovating the building last year, including new electric, plumbing, flooring, elevator and other fixtures.

Barlington owns stakes in 40 retail, residential and hotel buildings in Little Havana, the majority of which can be found along Southwest Eighth Street.


Related Articles

arrow_forward_ios
Robert Finvarb and Abraham “Abie” Hidary with the site at 2534 North Miami Avenue (Koniver Stern Group)
Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
Todd Michael Glaser with renderings of the project (Aztec Group)
Developers of Little Havana mixed-use project score $27M construction loan
Developers of Little Havana mixed-use project score $27M construction loan
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
arrow_forward_ios

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

Loading...