Flagler Street Retail Asset Trades For More Than $550 PSF
Miami, FL – July 7, 2015 – (RealEstateRama) — East Flagler Holdings LLC has purchased a 2-story Miami retail property, dubbed Rick’s Building, located at 226 E. Flagler Street in Downtown Miami. The buyer, Danny Lavy, a saavy Canadian entrepreneur and real estate investor, recently purchased the Flagler Building across the street from Rick’s Building at 219 East Flagler Street.
Doris Suttin, president of Doris B. Suttin Realty, Inc., represented Lavy in the transaction.
Shai Ben-Ami and Mika Mattingly of Sterling Equity Commercial represented Seller 226 E. Flagler Corp.
“Danny sees the massive add-value potential for Flagler Street ten years before it happens,” commented Suttin.
The 8,127-square-foot building, situated on a 4,209-square-foot parcel, was built in 1926.East Flagler purchased the owner-occupied asset for $4,500,000 – $552 per square foot for the building.
The transaction closed June 23.
Contact:
Debbie Colangelo
CRE-sources, Inc.
dcolangelo (at) cre-sources (dot) com
954.880.1150 (Office) / 954-290-3866 (Mobile)
