Bayfront Partners US Limited Partnership Acquires Development Site In Downtown Miami For $25M

The development site located at 255 NE 1st St in Downtown Miami has been sold in a closed transaction. The property spans a total of 37,500 square feet of land, with a building size of 247,000 square feet. The sale price for this transaction was $25,000,000, resulting in a price per square foot of $101 for the building and $667 for the land. The building's total square footage is expected to reach 900,000 square feet upon completion. The transaction took place on November 2, 2021.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $25,000,000
• Market: Downtown Miami
• Buyer: Bayfront Partners US Limited Partnership/ SageBlan Investments
• Seller: Mishorim Real Estate Investments - Shai Ben-Ami - Urbancore Group
• Seller's Representative: Mika Mattingly, Bradley Arendt & Cecilia Estevez - Colliers International

The sale of this development site was facilitated by the representation of Mika Mattingly, Bradley Arendt, and Cecilia Estevez from Colliers International. The buyer, Bayfront Partners US Limited Partnership/ SageBlan Investments, acquired the property from the seller, Mishorim Real Estate Investments, which was represented by Shai Ben-Ami from Urbancore Group. This closed transaction of $25,000,000 is a significant deal in Downtown Miami's real estate market, showcasing the continuous growth and development in the area.