Alirio Torrealba Acquires Development Site In Miami For $19.5M

A development site located at 3898 Shipping Ave in Miami has been sold for $19,500,000. The property spans a total area of 43,785 square feet, with a price per square foot of $445. The transaction took place on April 28, 2022.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $19,500,000
• Address: 3898 Shipping Ave
• Market: Miami
• Buyer: Alirio Torrealba
• Seller: Hector Castellon
• Broker: Jose Canero - The Canero Group

The development site, with a buildable square footage of 455,364 and a price per buildable square foot of $43, presents a valuable opportunity for future development in Miami. The transaction was facilitated by the broker, Jose Canero from The Canero Group.