Carolina Herrera Acquires Development Site In Hialeah For $18.75 Million From Michael Osman

3500 West 92nd Street is a development site located in Hialeah, sold for $18,750,000. The property encompasses an area of 838,094 square feet, translating to a price per square foot of $22.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $18,750,000
• Address: 3500 West 92nd Street
• Market: Hialeah
• Buyer: Carolina Herrera
• Seller: Michael Osman
• Brokers: George Smith, Gregory Carett & Seth Woods - Smith Commercial Property Group
• SF: 838,094
• PPSF: $22

This successful sale involved the project known as Security Estates, which is planned to introduce 178 new townhomes to a rapidly growing residential area in South Florida. The brokers were involved in securing this off-market opportunity through their established relationships and market knowledge, emphasizing their expertise in identifying private transactions.