Patrizio De Brasi Purchases Mixed-Use Buildings In Coconut Grove For $8.1M | 2961 & 2967 Bird Avenue | Mixed-use | Sale

Summary

Sale

FLORIDA

Mixed-use

The sale involved two unfinished buildings located at 2961 and 2967 Bird Avenue in Miami. Lender Fuse Group sold the building shells to an entity led by Patrizio De Brasi for $8.1 million. The properties were acquired following failed projects by Metronomic and developer Douglas Cox.

Summary of transaction details:

Property Type: Mixed-use
Transaction Amount: $8,100,000
Buyer: Patrizio De Brasi
Seller: Eyal Peretz - Fuse Group
Market: Miami

Patrizio De Brasi was the buyer in the transaction, acquiring the properties from Eyal Peretz - Fuse Group. The buildings at 2961 and 2967 Bird Avenue were sold at $8.1 million, reflecting challenges in Coconut Grove's development landscape due to failed projects.

Details

Deal Summary

SOLD

IMAGE: Eyal Peretz DATE: 04/25/2024 ADDRESS: 2961 & 2967 Bird Avenue MARKET: Miami ASSET TYPE: Mixed-use BUYER: Patrizio De Brasi SELLER: Eyal Peretz - Fuse Group SALE PRICE: $8,100,000 NOTE: Lender Fuse Group sold two unfinished Coconut Grove buildings linked to defaulted loans from separate developers, with an entity led by Patrizio De Brasi acquiring the building shells at 2961 and 2967 Bird Avenue in Miami for $8.1 million. The sale follows failed projects by Metronomic and embattled developer Douglas Cox, with Fuse acquiring the properties through bankruptcy proceedings and subsequently selling them, reflecting challenges in Coconut Grove's development landscape.

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Address2961 & 2967 Bird Avenue

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