Alex Karakhanian & Jon Paul Perez Acquire Development Site In Edgewater For $12.05M

The development site located at 519, 525 & 535 Northeast 29th Street in Edgewater has been sold in a closed transaction. The property, with a total square footage of 18,000, was sold for a price of $12,050,000. This sale sets a record price for non-waterfront land in Edgewater, with a price per square foot of $670. The site is situated opposite the planned Villa Miami project, which is being led by Terra, One Thousand Group, and Major Food Group. It is worth noting that Global Investments Realty, the buyer's representatives, also sold the site for Villa Miami.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $12,050,000
• Address: 519, 525 & 535 Northeast 29th Street
• Market: Edgewater

In this transaction, the buyers were Alex Karakhanian and Jon Paul Perez from Related, while Esteban Koffsmon acted as the seller. The buyer's representatives, Alex Suarez and Joel Rodriguez from Global Investments Realty, facilitated the deal.