PR Group Florida Acquires Development Site In Miami - Edgewater For $17.2M

Located in Miami's Edgewater neighborhood, a development site consisting of 426 & 434 NE 28th St and 423 NE 27th St has been sold for a total of $17,154,000. The property, spanning over 37,379 square feet, offers a potential for development. The transaction took place on June 24, 2022.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $17,154,000
• Units: 128
• Price per Unit (PPU): $134,016
• Square Footage (SF): 37,379
• Price per Square Foot (PPSF): $458

The buyer, PR Group Florida represented by Christophe Petit and Julien Ridon, acquired the property from sellers Alex Pavlosky, Wesley Bradley, and Octavio Maza. Jim Agard from Vendome Capital acted as the buyer's representative in the transaction. Additionally, Freddie Klein from The Porosoff Group represented the seller for the property located at 423 NE 27th St.

The completion of the lot assemblage was a significant achievement in this transaction. The involvement of Jim Agard from Vendome Capital as the buyer's representative played a crucial role in successfully combining the lots.