Alex Mantecon Of MV Real Estate Acquires Office Building In Miami For $12M From Crescent Heights

The property involved in this transaction is an office building located at 707 Northwest 57th Avenue in Miami, within the Blue Lagoon area. This asset encompasses a total of 31,438 square feet and sits on a land parcel of 1.54 acres. The transaction concluded with a sale price of $12,000,000, translating to $382 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $12,000,000
• Address: 707 Northwest 57th Avenue
• Market: Miami
• Square Footage: 31,438
• PPSF: $382
• Buyer: Alex Mantecon - MV Real Estate
• Seller: Sonny Kahn, Russell Galbut & Bruce Menin - Crescent Heights
• Loan Amount: $9.6 million
• Future Use: New headquarters for MV Real Estate, Insurance Nation, and Breakwater Hospitality Group

The deal was facilitated by Alex Mantecon representing MV Real Estate, and the sale involved prominent figures in the real estate sector, including Sonny Kahn, Russell Galbut, and Bruce Menin, who are affiliated with Crescent Heights.