Jimmy Resnick sells Alton Road retail building for $9M

Brazilian restaurant Coco Bambu previously leased the building

Miami /
May.May 11, 2020 06:00 PM
955 Alton Road (Credit: Google Maps)

955 Alton Road (Credit: Google Maps)

Miami Beach investor Jimmy Resnick sold a retail building on Alton Road for $9.25 million.

Hibiscus Alton Inc. sold the 16,441-square-foot building at 955 Alton Road in South Beach to 955 Alton Road MIA LLC, property records show. The building was previously home to Coco Bambu, a Brazilian seafood restaurant that closed more than a year ago.

Resnick bought the property for $420,000 in 1992, records show. Built in 1950, the building was designed by architect Norman Giller, and was once the headquarters of Miami Ad School and the long-time home of the Hibiscus Masonic Lodge.

The latest buyer is a Delaware company that lists insurance brokerage Lockton Companies’ address at the 777 Tower in Downtown Los Angeles.

The building was available for lease with Avenue Real Estate, and includes an 8,348-square-foot ground floor and an 8,093-square-foot second floor, according to the listing. A tenant could subdivide both floors. The property also includes 18 parking spaces and outdoor dining.

About a year ago, investors Jefferson Brackin and Michael Bird paid $5.35 million for the building at 740 Alton Road.

Nearby, Russell Galbut’s Crescent Heights and its partner Terra are planning to build the Park on Fifth, a 44-story luxury residential tower at 500 Alton Road.


Related Articles

arrow_forward_ios
7-Eleven at 6348 Collins Avenue in Miami Beach (Google Maps, iStock)
Fill ‘er up: Power Petroleum buys Miami Beach 7-Eleven with gas station for $11M
Fill ‘er up: Power Petroleum buys Miami Beach 7-Eleven with gas station for $11M
Don and Katrina Peebles with their recently purchased Bath Club unit. (Getty, ONE Sotheby’s International Realty)
Don Peebles buys unit at the Bath Club, finds buyer for Coral Gables estate
Don Peebles buys unit at the Bath Club, finds buyer for Coral Gables estate
Florinda “Flory” Padrón and 1335 North Venetian Way (Google Maps, Instagram/Padron)
Widow of late Padrón Cigars founder sells waterfront Venetian Islands home for $6M
Widow of late Padrón Cigars founder sells waterfront Venetian Islands home for $6M
The hotel was built in 1940, with an addition constructed in 1958. (Shelborne)
Owners of historic Shelborne hotel in South Beach seek approval for renovation
Owners of historic Shelborne hotel in South Beach seek approval for renovation
From left: Howard Frank Auman and Patrick J. Peyton with Apogee at 800 South Pointe Drive, Miami Beach (Photos via Signature Property Group, PAMM, Sieger Suarez Architects)
Multifamily developer spends nearly $8M on Apogee unit
Multifamily developer spends nearly $8M on Apogee unit
Kenneth Lerer bought the waterfront property in 2014. (Lerer Hippeau, Douglas Elliman)
HuffPo co-founder, former BuzzFeed chairman sells Venetian Islands mansion
HuffPo co-founder, former BuzzFeed chairman sells Venetian Islands mansion
Andrew Lessman with 835 East Dilido Drive (Google Maps, Facebook/ProCaps, iStock)
Swallow this: Vitamin mogul sells second Miami Beach home for $20M
Swallow this: Vitamin mogul sells second Miami Beach home for $20M
Don Mullen and James Curnin with the Sunset Islands spec home (Strang, Getty)
Big Short investor buys $25M Miami Beach spec mansion
Big Short investor buys $25M Miami Beach spec mansion
arrow_forward_ios

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

Loading...