Gino Santorio Of Mount Sinai Medical Center Acquires Miami Development Site For $20 Million

A development site located at 4475, 4431, 4401 Northwest 7th Street and 790 Northwest 44th Avenue in Miami, spanning 2.34 acres, has been sold for a total of $20,000,000. The asset is intended for the construction of a 37,714 SF outpatient center that will include an emergency department and medical offices.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $20,000,000
• Buyer: Gino Santorio
• Buyer’s Company: Mount Sinai Medical Center
• Seller: Agustin Herran
• Seller’s Company: 7th & 45th Avenue Venture LLC
• Acreage: 2.34
• Location: Miami

Agustin Herran, who manages 7th & 45th Avenue Venture LLC, previously assembled the land for a total investment of $4.35 million between 2015 and 2016. This transaction marks a significant step for Mount Sinai Medical Center as they expand their facilities in the Blue Lagoon area of Miami.