Riviera Dining Group Acquires Coconut Grove Retail Property For $9.5M

The retail property located at 2889 McFarlane Rd in Coconut Grove has been sold in a closed transaction. The property spans 6,369 square feet and was sold for $9,500,000, resulting in a price per square foot of $1,492. The buyers of the property are Riviera Dining Group, while Oak Capital acted as the seller.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $9,500,000
• Address: 2889 McFarlane Rd
• Square Footage: 6,369
• Price per Square Foot: $1,492
• Market: Coconut Grove

Ryan Brodsky from Colliers and Lee Koniver from Koniver Stern Group represented the buyer, Riviera Dining Group, in this transaction. On the other hand, Felix Bendersky from F+B Hospitality Leasing Brokerage represented the seller, Oak Capital.