South Beach Shoe Store Property Sells For $2,766 PSF
A Brooklyn company went shopping for retail real estate on South Beach and came away with a shoe store property for $2,766 per square foot.
Collins/Eighth LLC, a Canadian company managed by Marie-Andree Boutin, sold nine commercial condo units at 751 Collins Ave. for $10 million to 181/182 Prospect Park Associates. The Brooklyn-based buyer, which is managed by Richard A. Kaplin and shares the address of Slope Realty, received a $6.3 million mortgage from New York Community Bank.
The commercial condos total 3,615 square feet. The tenant is Aldo Shoes.
The building was constructed in 1952. The seven residential condos on the upper floor were not included in the deal.
Source: SFBJ
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