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Alex Pirez Acquires Retail Property In Miami From Terra Group & Related Group For $5.5M

3321 Mary Street
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This Retail property located in FL was sold for $5,500,000 over 2 years ago. The brokers of the deal were Sebastian Faerman and Fabio Faerman

The Coconut Grove property located at 3321 Mary St in Miami has been sold in a recent transaction. The property is a retail asset with a total square footage of 5,731, which includes an additional 1,000 square feet of outdoor space for seating. The sale price for this property was $5,500,000, resulting in a price per square foot of $960.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $5,500,000
  • Address: 3321 Mary St, Miami
  • Market: Miami
  • Square Footage: 5,731
  • Price per Square Foot: $960

The buyer of the Coconut Grove property is Alex Pirez, while the sellers are the Terra Group and the Related Group. The sale transaction was facilitated by Fabio and Sebastian Faerman of FA Commercial at Fortune International Realty. It is worth noting that this sale marks the second transaction in a week for the same building, effectively selling out the commercial units in the Park Grove Residences.

In a separate transaction involving the Related-Terra venture, they also sold the retail condo on the ground floor of Park Grove Residences to a Mexican investment group for $6 million. This additional space spans just under 10,000 square feet. FA Commercial acted as the representative for both the buyer and the seller in that deal.

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Deals
  • Location
    3321 Mary Street, Miami, FL, USA3321 Mary Street, Miami, FL, USA
  • Sale Price
    $5,500,000$5,500,000
    $959 PPSF$959 PPSF
  • Area
    5,731 SF5,731 SF
  • Asset Type
    RetailRetail
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Sebastian Faerman

Sebastian Faerman

Deals39
Sold$226.1M

Fabio Faerman

Fabio Faerman

Deals42
Sold$257.5M

Agency

FA Commercial

FA Commercial

Agency
Deals81
Volume$483.6M

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Deal Summary

SALE IMAGE: Sebastian Faerman & Fabio Faerman DATE: 11/16/2021 ADDRESS: 3321 Mary St MARKET: Miami ASSET TYPE: Retail BUYER: Alex Pirez SELLER: Terra Group & Related Group BROKERD: Fabio & Sebastian Faerman - FA Commercial (@FACommercial) SALE PRICE: $5,500,000 SF: 5,731 ~ PPSF: $960 NOTE: Fabio and Sebastian Faerman of FA Commercial at Fortune International Realty represented the developer groups Related-Terra in the sale of the Coconut Grove property of 5,731 SF with 1,000 SF of additional outdoor space/ seating for $5,500,000. This marks the second transaction in 1 week in the same building, selling out the commercial units in the park grove residences. The Related-Terra venture also sold the retail condo on the ground floor of Park Grove Residences, a three-tower luxury condo development, to a Mexican investment group for $6 million. That space spans just under 10,000 square feet, he said. FA Commercial represented the buyer and seller in that deal.

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3321 Mary Street

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