Michael Stern's JDS Development Group Acquires Miami Development Site For $23.5M

191 Southwest 12th Street & 1 Southside Park in Miami has been sold. The development site, consisting of 1,400 units, was purchased by Michael Stern from JDS Development Group for a price of $23,500,000. The property was previously owned by John Polit. The transaction took place on November 25, 2020, and was facilitated by Adrian Sanchez of Waterfront Investment Real Estate acting as the broker.

Summary of transaction details

• Property Type: Development site
• Transaction Amount: $23,500,000
• Units: 1,400
• Buyer: Michael Stern - JDS Development Group
• Seller: John Polit
• Broker: Adrian Sanchez - Waterfront Investment Real Estate

The acquisition of 191 Southwest 12th Street & 1 Southside Park in Miami for $23,500,000 was led by Michael Stern from JDS Development Group. John Polit served as the seller in this transaction. Adrian Sanchez, representing Waterfront Investment Real Estate, played a crucial role as the broker in facilitating the deal.