Jorge Penna Acquires Land Development In Miami For $2.75M

Three adjacent properties located at 2554 SW 8th St, 2560 SW 8th St, and 2551 SW 9th St in Miami have been sold in a closed transaction. The asset type of these properties is land development, offering significant potential for future development opportunities.

Summary of transaction details:

• Property Type: Land Development
• Transaction Amount: $2,750,000
• Square Footage: 20,600
• Price per Square Foot: $133
• Market: Miami

The buyer, Jorge Penna, acquired the properties from sellers Yariv Bensira and Pedro Camejo. The buyer was represented by Natalia Nunez from One Sotheby’s, showcasing their commitment to providing top-notch real estate services. On the other hand, the sellers were represented by Eddie Toledo and Jonathan De La Rosa from Marcus & Millichap, demonstrating their expertise in facilitating successful property transactions.

This transaction signifies an important milestone in the real estate market, as it involves the transfer of three adjacent properties with significant land development potential. The acquisition price of $2,750,000 reflects the value of the properties and the opportunities they offer for future development. With a total square footage of 20,600 and a price per square foot of $133, these properties hold great promise for investors and developers in Miami's real estate market.