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1501 NorthWest North River Drive
SOLD

IFly Acquires Development Site In Miami For $7.5M

1501 NorthWest North River Drive

Development Site
24,435 SF
Tony Arellano
David Lerner
the dealplayerscompscontact

Summary

Sale
FLORIDA
Development Site
24,435 sqft

iFly has purchased 1501 NW North River Drive in Miami for $7,500,000. The property is a development site with a total square footage of 24,435. The buyer plans to redevelop the site into an entertainment venue. The transaction was facilitated by DWNTWN Realty Advisors, with Tony Arellano, P.A. and David Lerner representing the buyer.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $7,500,000
  • Address: 1501 NW North River Drive
  • Market: Miami

SKL Investments sold the property to iFly. The site is zoned T6-8 O and includes a legacy two-story building of 11,994 sq ft. The sale represents a price of $306 per square foot for the land and $625.31 per square foot for the vacant office building. Tony Arellano, P.A. and David Lerner, an Executive at DWNTWN Realty Advisors, represented SKL Investments in the transaction.

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Players

  • All

    3

  • Agents

    2

  • Agencies

    1

Tony Arellano's profile picture
Tony Arellano
DWNTWN Realty Advisors-image
Co-Founder & Managing Partner
$440.3M Sold
David Lerner's profile picture
David Lerner
DWNTWN Realty Advisors-image
Executive
$12.5M Sold

Details

Deal Summary
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SOLD
IMAGE: David Lerner & Tony Arellano DATE: 06/07/2021 ADDRESS: 1501 NW North River Drive MARKET: Miami ASSET TYPE: Development Site BUYER: iFly SELLER: SKL Investments BROKERS: Tony Arellano, P.A. & David Lerner - DWNTWN Realty Advisors SALE PRICE: $7,500,000 BSF: 24,435 ~ PPBSF: $306 NOTE: DWNTWN Realty Advisors has sold 1501 NW North River Drive for $7,500,000. The asset was sold by SKL Investments to an undisclosed party. The buyer plans to redevelop the property into an entertainment venue. The site includes 24,435 sq ft. zoned T6-8 O. There was a legacy two story building of 11,994 sq ft. The sale represents a $306 PSF on land and 625.31 PSF on the vacant office building, respectively. The seller was represented by DWNTWN Realty Advisor’s Managing Partner Tony Arellano, P.A. & David Lerner, an Executive at the firm.

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Address1501 NorthWest North River Drive

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