ASG Equities Sells Retail Property In Miami’s Design District For $14M

The property located at 70-74 Northwest 40th Street in Miami has been sold by ASG Equities to real estate development company Dacra for $14 million. This retail asset spans 4,500 square feet and was the last of a three-building portfolio in the Miami Design District. The building is fully occupied and features luxury brands Ksubi and Orlean.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $14,000,000
• Buyer: Craig Robins - Dacra
• Seller: George Karnoupakis - ASG Equities
• Market: Miami
• Square Footage: 4,500
• Price Per Square Foot: $3,111

The sale of 70-74 Northwest 40th Street in Miami’s Design District signifies ASG Equities' successful divestment of its portfolio in the area, as the company redirects its focus to projects like Parterre 42, a 500,000-square-foot mixed-use development with Helm Equities. Craig Robins from Dacra was the buyer in this transaction marking the completion of ASG Equities' retail property sales in the Miami Design District.