🏆 Commercial: A retail property in Miami Beach marked the priciest commercial trade to hit records in South Florida. An 8,600-square-foot retail building at 910 Lincoln Road sold for $15 million, which breaks down to $1,700 per square foot. The seller was an affiliate of Miami-based Torose Equities, which is led by Scott Sherman; the firm purchased the building in 2024 for $10.4 million. The buyer in the latest deal was an LLC tied to KAR Properties, based in New York.
🏆 Residential: Surfside had the top home sale recorded in South Florida, with the sale of a condo at 9165 Collins Avenue for $40 million. Fort Partners, developer of the building, the north tower of the Seaway at the Surf Club, sold the unit to Blue Water 92 LLC. The unit has a wraparound balcony and spans more than 7,900 square feet, pricing the sale at roughly $5,000 per square foot.
📊 Residential: In Miami Beach, a condo at 8701 Collins Avenue changed hands for $18.1 million. The seller was an LLC managed by David Edelstein, a New York-based developer who leads Tricap, and the buyer was a trust. The three-bedroom unit has three and a half bathrooms and measures about 3,200 square feet. The deal pencils out to $5,700 per square foot. The Edelstein-managed entity had purchased the condo in 2021 for $9.3 million.
📊 Residential: In Miami, a trust scooped up two condos at the Four Seasons Residences at 1425 Brickell Avenue for a combined $11.3 million. The seller was an LLC tied to Gerard Luis Garcia. One unit has two bedrooms and spans 1,700 square feet; the other has three bedrooms and measures 2,700 square feet.
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