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 | January 12, 2017
According to thenextmiami, a petition involving a 15 by 75 feet alley has sparked speculations that a brand new hotel could be coming to Edgewater. Why? Simply because this alley comes attached to a 7,875 sq. ft. plot located at 348 Northeast 20...
by Sep Niakan | January 09, 2017
Ever tried driving from Brickell to Downtown Miami for lunch? Most Miamians dread the thought of catching the dreaded drawbridge, which opens every hour or half-hour during non-curfew hours to allow river traffic to pass under. So what’s...
by Sep Niakan | January 08, 2017
Last year’s headlines weren’t too kind to Miami with hurricanes, Zika warnings and falling sales painting a dark picture. However, with the elections finally done with, there are plenty of reasons to be optimistic about 2017: 1. ...
by Sep Niakan | December 28, 2016
We all know Wynwood as the friendly, hipster neighborhood splashed with the best street art in the world. It’s where we all go for our art fix, browse far-out finds and linger around for a couple of craft beers. But, how about shopping,...