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1509 & 1515 Washington Avenue
SOLD

Xaver Kriechbaum & Gavin Crescenzo Acquire Mixed-Use Building In Miami Beach For $20M

1509 & 1515 Washington Avenue

Mixed-use
clock iconSold 32 days ago
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Summary

Sale
FLORIDA
Mixed-use

A developer acquired a Miami Beach mixed-use building for $20 million, planning to replace it with a seven-story, 238-room hotel designed by Arquitectonica. The seller financed $15 million of the deal, and the new hotel will feature two restaurants and a pool deck but will not include parking on site.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $20,000,000
  • Units: 14
  • Price Per Unit: $1,428,571
  • Acres: 0.63
  • Address: 1509 & 1515 Washington Avenue
  • Market: Miami Beach

Xaver Kriechbaum & Gavin Crescenzo, from Keyah Real Estate Group, acted as buyers in the transaction, while James Resnick represented Washington Gardens Inc. & Washington Gardens MB LLC as the seller.

Details

Deal Summary
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SOLD
IMAGE: Xaver Kriechbaum DATE: 06/11/2024 ADDRESS: 1509 & 1515 Washington Avenue MARKET: Miami Beach ASSET TYPE: Mixed-use ~ ACRES: 0.63 BUYER: Xaver Kriechbaum & Gavin Crescenzo - Keyah Real Estate Group SELLER: James Resnick - Washington Gardens Inc. & Washington Gardens MB LLC SALE PRICE: $20,000,000 UNITS: 14 ~ PPU: $1,428,571 NOTE: A developer acquired a Miami Beach mixed-use building for $20 million, planning to replace it with a seven-story, 238-room hotel designed by Arquitectonica. The seller financed $15 million of the deal, and the new hotel will feature two restaurants and a pool deck but will not include parking on site.

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Address1509 & 1515 Washington Avenue

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