900 Biscayne Class A 8th Floor Office Condo Portfolio Trades For $2.62MM
Lee & Associates South Florida Announces Class A 8th Floor Office Condo Portfolio at 900 Biscayne Closes for $2.62MM in Downtown Miami
MIAMI, Florida—June 11, 2021 – Lee & Associates South Florida announces the sale of three contiguous Class A office condo units amounting to the entire 8th floor office space located at 900 Biscayne Blvd in Downtown Miami, Florida. The office portfolio sold for $2,620,000 on May 28th, 2021.
Lee & Associates South Florida Senior Vice President and specialist in sales and leasing of CBD and Suburban Office real estate, Joseph Jarkesy, CCIM, was tapped by Lee South President, Matthew Rotolante, SIOR, CCIM to assist with representing the Seller, Carol Invest USA, LLC on the office condo portfolio. The 900 Biscayne office units were part of a larger portfolio of various commercial and rental properties in the South Florida marketplace that Rotolante continues disposition representation efforts on behalf of the Seller. Despite ongoing pandemic effects and hesitancy in the South Florida Office sector, within the first month of active marketing initiatives by Lee & Associates South Florida, Rotolante and Jarkesy had quickly procured interest from several active buyers and were able to secure a direct investment buyer, 900 Biscayne 801 802 803 LLC, with an all cash offer and quick closing terms, selling at $440.34 per square foot.
The three office condos total 5,950 contiguous square feet covering the entire 8th floor office space of the renowned Class A 900 Biscayne property conveniently located along US-1/ Biscayne Blvd between NE 9th and 10th Street in the heart of revitalized Downtown Miami. The space boasts impeccable unobstructed views of Miami’s beautiful Biscayne Bay and the newly rebranded FTX Arena, formerly known as the American Airlines Arena. The building offers on-site management, 24-Hr valet service and on-site parking, has 8 elevators, a pristine lobby, and ground floor retail. The property is less than one block from the Park West MetroMover train station, and just steps from some of Downtown Miami's most exciting dining, retail and entertainment options such as the FTX Arena, the Phillip and Patricia Frost Museum of Science and Museum Park, Bongos Cuban Café, Bayside Marketplace, Bayfront Park, and the new Miami World Center.
Lee & Associates | South Florida is a full service commercial real estate brokerage firm providing the highest level of service to South Florida’s diverse industrial, office, retail, multifamily, investment and land sectors. Our dedicated team of professionals is led by Matthew Rotolante, a 4th generation Miami native in a family that has owned and operated commercial property in the South Florida market since 1928. Our bilingual culture allows for open communications throughout the company, fostering collaboration and information sharing. In addition, the Lee & Associates’ robust national network that sold and leased nearly $16 Billion in commercial real estate in 2019 offers clients a cross-market platform of services and expertise across all asset specialties and representation roles.
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.