Beitel Group Acquires Retail Property In Miami From Landy Toledo For $45M

The property at 3333 Biscayne Boulevard, located in Miami, FL, 33137, is a 2.91-acre development site in the Edgewater neighborhood. It consists of an entire city block, including a 2.80-acre site sold for $45 million and a 0.126-acre parcel at 440 N.E. 34th Street sold for $1.7 million to Aimco in a separate transaction. The total transaction amount for the entire assemblage was $46.7 million. The property is one of the largest remaining mixed-use development sites in the Edgewater District, allowing for various development possibilities.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $46,700,000.00
• Market: Miami
• Seller's Representative: Landy Toledo (Marcus & Millichap)
• Buyer: Beitel Group

Landy Toledo, first vice president investments at Marcus & Millichap's Miami office, represented the seller, Miami Sunrise Properties LLC, managed by Camila Koelbl. The property was acquired by the Beitel Group of Brooklyn, New York. The assemblage, strategically located near prominent commercial and cultural attractions, has drawn significant interest from investors and developers looking to capitalize on the growth potential in South Florida and the Edgewater submarket.