3rd Bulk Land Deal Of 4th Quarter Closes in Downtown Miami’s Brickell Avenue Area

An investment fund has paid $22 million for an undeveloped site on Brickell Avenue in the heart of Downtown Miami’s Financial District, marking the third land deal to close in the fourth quarter, according to a report compiled by Condo Vultures® LLC.

A newly created entity called 1451 Brickell, Inc., with Jorge Hernandez as president and director paid $840 per square foot on Nov. 4 for an undeveloped 26,182-square-foot site with frontage on Brickell Avenue, Southeast 15th Road, and Southeast 14th Lane, according to state and county government records.

The seller was Fourteen Fifty One Brickell, LLC, with Walter Defortuna, who is the younger brother of condominium developer Edgardo Defortuna, who built the Jade on Brickell Bay high-end condominium in Miami’s Brickell Avenue a

Read entire article: 3rd Downtown Miami Bulk Land Deal Closes In A Month

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