Rilea Group Acquires Miami Development Site For $22M From Seller 29th Street Warehouses LLC

Located at 50 NE 29th St in Miami, this development site was recently sold in a closed property transaction. The sale took place on 06/23/2021, with the buyer being Rilea Group represented by Diego Ojeda, and the seller being 29th Street Warehouses LLC., represented by David Lombardi. The transaction was facilitated by brokers Alfredo Riascos and Yonatan Missika from Gridline Properties.

Summary of transaction details

• Property Type: Development Site
• Sale Price: $22,000,000
• Acres: 1.5
• Price per Acre (PPA): $40
• Market: Miami

The sale price for this property was $22,000,000, and it spans across 1.5 acres, resulting in a price per acre (PPA) of $40. The development site is situated in Miami, which is a vibrant market known for its real estate opportunities.

This transaction showcases the involvement of key individuals and companies. The buyer, Rilea Group, was represented by Diego Ojeda, while the seller, 29th Street Warehouses LLC., was represented by David Lombardi. The deal was successfully executed with the assistance of brokers Alfredo Riascos and Yonatan Missika from Gridline Properties.