South Beach Office Building Fetches $367 PSF
An office building just north of Lincoln Road on South Beach sold for $23 million.
Meridian Miami, an Orlando-based company managed by Chaney B. Gordy Jr., sold the 62,748-square-foot office at 1680 Meridian Ave. to 1680 Costa LLC, an affiliate of Miami-based Market Street Real Estate Partners headed by Daniel Warman.
RCC Real Estate financed the deal with a $17.5 million loan.
The six-story building, known as Meridian Center, was built on the 11,250-square-foot lot in 1957. It last traded for $15.82 million in 2010.
Space in the building was recently advertised online for lease at $36 per square foot annually.
Source: SFBJ
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