Fernando Masaveu Herrero Of Corporacion Masaveu Acquires Development Site In Miami For $15.5M

A 0.3-acre development site located at 268 Southwest 8th Street in Miami was sold for $15,500,000. This property was previously the site of the Okey Dokey food hall. The site, now owned by Masaveu Real Estate US, complements an adjacent half-acre parcel acquired in 2022 for $14.7 million. The combined area is zoned for up to 150 units per acre and can accommodate built structures of up to 48 stories, with additional air rights obtained to maximize density.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,500,000
• Buyer: Fernando Masaveu Herrero - Corporacion Masaveu
• Seller: Nathan Cohen & Yonel Fellous - Modani
• Asset Size: 0.3 acres
• Address: 268 Southwest 8th Street
• Market: Miami

Fernando Masaveu Herrero represented Corporacion Masaveu in this transaction, while Nathan Cohen and Yonel Fellous represented Modani. The acquisition enhances Corporacion Masaveu's holdings in the area, with plans for development reflecting the zoning allowances and increased project density.