The $8.35 million sale of a parcel in Miami’s Brickell Avenue area is seen by several industry insiders as a sign that values for prime land may be stabilizing.
On Monday, Coral Gables developer Alex Vadia acquired the 1.3-acre site on South Miami Avenue between Coral Way and Southwest 14th Street. Vadia confirmed the price but said the parcel’s size is wrong in public records. He said the property encompasses 56,090 square feet, which makes the deal worth about $149 per square foot.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
