An investment and development opportunity recently closed in Miami with the sale of a development site located at 2400 & 2500 North Miami Avenue. The property, spanning approximately 2.5 acres, was sold for a price of $25,000,000. This translates to a purchase price per acre of $10,000,000. The site has the potential to accommodate a total building area of 650,000 square feet, resulting in a price per square footage of $38.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $25,000,000
• Address: 2400 & 2500 North Miami Avenue
• Market: Miami

The buyer of this development site is LIVWRK, while East End Capital acted as the seller. The transaction was facilitated by Robert Given, Adam Spies, and Adam Doneger who represented the respective parties involved.