Alex Karakhanian's LNDMRK Development Acquires Development Site In Edgewater For $22.5M

The sale of a development site located at 2927 NE 4th Ave in Edgewater has been completed for a price of $22,500,000. The property spans a total square footage of 60,750, with a price per square foot of $370. The buyer, Alex Karakhanian of LNDMRK Development, acquired the property from the seller, David and Leila Centner of DLC Capital Management. The transaction was facilitated by Stefano Santoro of Disruptive Real Estate, who represented the buyer, and Keiti Silva of RE/MAX 360 Real Estate, who represented the seller.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $22,500,000
• BSF (Building Square Footage): 860,000
• PPBSF (Price per Building Square Foot): $26
• Address: 2927 NE 4th Ave, Edgewater
• Market: Edgewater

This sale transaction marks the third major deal between Stefano Santoro and Alex Karakhanian. Their previous collaborations include the acquisition of 51 NW 29th St in Wynwood, which included the former Rubell Museum, and 3701 NE 2nd Ave, an international fashion school in the Design District. Notably, Santoro is also currently representing major development sites in the Design District, including the former Post Office at 66-70 NE 39th St and a corner property at 15 NE 41st St.

Congratulations to all parties involved in this successful transaction!