Myung Kune Moon Acquires Industrial Property In Allapattah For $3.4M

A property located at 1501 Northwest 23rd Street in Allapattah has been sold for $3,400,000. The industrial asset spans a total of 12,292 square feet, resulting in a price per square foot of $277. The property is in need of major improvements and updates, which contributed to the relative sale price. The transaction took place in May 2023 and the buyer intends to utilize the property for their electronic components import business.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $3,400,000
• Square Footage: 12,292
• Address: 1501 Northwest 23rd Street
• Market: Allapattah

The buyer of this property is Myung Kune Moon, while the sellers are Jared Galbut and Keith Menin. The seller's representative in this transaction was Jonathan Eismann from Gridline Properties. Eismann specializes in helping business owners acquire vacant industrial warehouse properties. This sale is part of the continuous effort to bring vibrant businesses into the Allapattah Commercial District.