JDS Development Group Acquires 888 Brickell Avenue Office From Alphatur Inc. For $61.23M | 888 Brickell Avenue | G4 Capital Partners | Office | Sale

Summary

Sale

FLORIDA

Office

The 52-year-old office building located at 888 Brickell Avenue in Miami's Brickell Financial District was sold for $61.23 million. The property was acquired by Michael Stern of JDS Development Group from Mashud A. Mezerhane of Alphatur Inc.

Summary of transaction details:

Property Type: Office
Transaction Amount: $61,230,000
Acres: 0.52
Buyer: Michael Stern - JDS Development Group
Seller: Mashud A. Mezerhane - Alphatur Inc.
Lender: G4 Capital Partners

JDS Development Group, led by Michael Stern, plans to replace the acquired building with a Dolce & Gabbana-branded tower. The tower will feature 250 condo hotel units and various amenities, in partnership with Studio Sofield. Alphatur Inc., the seller, originally purchased the building for $6.3 million in August 1984.

Players

All
1

Lenders
1

G4 Capital Partners

Details

Deal Summary

SOLD

IMAGE: Michael Stern DATE: 04/24/2024 ADDRESS: 888 Brickell Avenue MARKET: Miami ASSET TYPE: Office ~ ACRES: 0.52 BUYER: Michael Stern - JDS Development Group (@JDSDevelopmentGroup) SELLER: Mashud A. Mezerhane - Alphatur Inc. LENDER: G4 Capital Partners SALE PRICE: $61,230,000 NOTE: JDS Development Group, headed by Michael Stern, acquired the 52-year-old office building at 888 Brickell Ave. in Miami's Brickell Financial District for $61.23 million. The developer plans to replace the building with a Dolce & Gabbana-branded tower, featuring 250 condo hotel units and various amenities, in collaboration with Studio Sofield.The seller, Alphatur Inc., headed by Mashud A. Mezerhane, originally purchased the building for $6.3 million in August 1984.

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Address888 Brickell Avenue

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