Alex Karakhanian's LNDMRK Development Acquires Development Site In Edgewater For $22.5M

An undeveloped land assemblage in the Heart of Miami’s Edgewater has been sold for $22.5 million. The property, located at 2927 NE 4th Avenue, is situated just off Biscayne Boulevard in the Edgewater market. This development site, spanning 60,750 square feet, has a buildable square footage of 860,000. The price per square foot for this transaction was $370, while the price per buildable square foot stood at $26.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $22,500,000
• Address: 2927 NE 4th Ave
• Market: Edgewater

On October 14, 2022, the buyer, Alex Karakhanian of LNDMRK Development, acquired the property from David and Leila Centner of DLC Capital Management. The buyer was represented by Stefano Santoro of Disruptive Real Estate, a full-service commercial brokerage firm based in Wynwood Miami. Keiti Silva of RE/MAX 360 Real Estate served as the seller's representative in the transaction.

This sale marks Santoro's third major transaction with Alex Karakhanian of LNDMRK Development Group. Previous deals include the acquisition of a property at 51 NW 29th Street in Wynwood and an international fashion school in the Design District located at 3701 NE 2nd Avenue. Santoro is currently representing major development sites in the Design District: the former Post Office at 66-70 NE 39th Street and a corner property at 15 NE 41st Street. For more information, reach out to Disruptive Real Estate at [email protected] or DM @Disruptiverealestate. Congratulations to all parties involved in the transaction!