Spanish investor buys mixed-use building near Española Way

The late Barry Fishman had acquired the property for $200K in 1984

Miami /
Feb.February 05, 2020 03:30 PM
1452 Washington Avenue (Credit: Google Maps, iStock)

1452 Washington Avenue (Credit: Google Maps, iStock)

A Spanish investor paid $12 million for a property near Española Way in Miami Beach.

Miami Retail 200, an LLC tied to Grupo Invivas principal Jaime Garbisu, acquired the mixed-use residential and retail building at 1452 Washington Avenue, property records show. The trust of Barry Fishman sold the 12,379-square-foot building.

Fishman, who was the managing partner of Shapiro & Fishman, a Florida-based law firm, died in January, according to an obituary published in the Miami Herald. Records show Fishman acquired the building in 1984 for $200,000.

The Washington Avenue two-story building was constructed in 1938 on a 7,756-square-foot lot. It includes retail space and one two-bedroom, two-bathroom residential unit. It’s just north of Española Way, a Spanish-style pedestrian-only corridor in South Beach.

Since the city of Miami Beach approved measures designed to increase hotel uses and expand retail and dining opportunities on Washington Avenue, investors and developers have been buying up sites and launching projects. Last year, the city commission passed co-living legislation for a portion of Washington Avenue from Sixth to 16th streets.

In 2017, a Garbisu-led company paid $5.2 million for the ground-floor retail space leased to La Petite Maison restaurant in Miami’s Brickell neighborhood.


Related Articles

arrow_forward_ios
Eighty Seven Park next to the collapsed Champlain Towers South (Getty)
Condo tower Eighty Seven Park, Collins Avenue still closed amid concerns of possible street collapse
Condo tower Eighty Seven Park, Collins Avenue still closed amid concerns of possible street collapse
Ronny Finvarb with the proposed hotel (GEK Architecture)
Sunset Harbour’s new zoning district bans Ronny Finvarb’s planned hotel, allows taller offices
Sunset Harbour’s new zoning district bans Ronny Finvarb’s planned hotel, allows taller offices
DataDirect Networks President Paul Bloch, Oceanfirst Realty principal Eddy Chabli and renderings of the house Bloch plans to build (DDN, Kobi Karp Architecture)
Tech mogul Paul Bloch buys waterfront Miami Beach lot, plans mansion
Tech mogul Paul Bloch buys waterfront Miami Beach lot, plans mansion
800 Lincoln Road building and Restaurateur Gregory Galy (Tricap, LinkedIn)
Mila restaurant to add entertainment venue on Lincoln Road
Mila restaurant to add entertainment venue on Lincoln Road
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
Grupo Marquise’s Jose Carlos Pontes with the property (Compass, Facebook via Grupo Marquise)
Grupo Marquise co-founder sells waterfront Miami Beach mansion for $27M
Grupo Marquise co-founder sells waterfront Miami Beach mansion for $27M
Corey Dickerson, Mike Piazza and Derek Jeter with the Miami baseball stadium (Getty)
South Florida by the numbers: Play ball
South Florida by the numbers: Play ball
Gabriele Braha and Avihai Daniell with the properties (Red Group)
Family office buys South Beach short-term rental portfolio for $14M
Family office buys South Beach short-term rental portfolio for $14M
arrow_forward_ios

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

Loading...