Investors Continue to Purchase Design District Properties
by Sep Niakan | May 08, 2014
Thor Equities added another property to their Design District portfolio by acquiring the retail building previously occupied by Baltus, a high-end furniture company.
Thor Equities, an investment group based out of New York, purchased the retail property, located at 3925 North Miami Avenue, on Friday for an undisclosed amount.
A company managed by Fifteen Group is the seller of the property. They paid $3.7 million for the building in January 2012.
The previous Baltus land includes a 10,780 square-foot property, and is zoned to allow up to 12-stories with a maximum of 32 residential units or 63 hotel rooms.
Thor Equities is partnering with the Related Group to develop the luxury Baltus House condo, currently under construction near the district.
The Design District is booming in property sales due to the popularity of the upcoming $1 billion mixed-use development by Dacra and L Real Estate.
In other cases demonstrating this boom, developer David Edelstein has purchased a pair of properties in the district for $10.6 million on April 7.
by Sep Niakan | February 22, 2017
A previous blog on how a petition to privatize an alley adjacent to Cité Condo sparked rumors of a new hotel coming to Edgewater did spark another thought process. It seems the latest trend for developments in Edgewater is to either be a...
by Sep Niakan | February 15, 2017
Miami has always been a melting pot of cultures. From the Bahamians that came to work at the Peacock Inn in the 1870s to influx of Cuban immigrants in the 1960s. Miami didn’t just welcome people with open arms, but also embraced their...
by Sep Niakan | February 14, 2017
Valentine’s is just around the corner, and while most people equate Valentine’s Day with romantic love, I prefer to celebrate love in a broader sense. To me, it’s more about celebrating bonds and relationships of all kinds,...
by Sep Niakan | February 12, 2017
If you thought living in Downtown Miami was a distant dream, think again. 2017 comes bearing great news for those who’ve always wanted to live close to the urban core but couldn’t afford it. You will now be able to rent a Downtown Miami...