The firm recently concluded another headline transaction in 2021, this time representing the seller of a prime bay front development parcel located in North Bay Village. The 47,000 square foot parcel, located on 79th Street Causeway sold for $13.5 million to an affiliate of Sunbeam Television, the owners of local WSVN Fox affiliate in Miami. The sale now allows Sunbeam to control a large assemblage of land in North Bay Village for future development in the town. The transaction was reported in the two top real estate outlets in Miami by The Real Deal and the South Florida Business Journal.
The seller of the parcel has been a longtime client of the firm, and the firm represented the seller when he acquired the parcel in June of 2014. The firm continued to work on this parcel for many years, including entitling the parcel for certain development rights, and handling leasing matters. While the time from contract to sale was only 35-days, our client, with the help of the firm, put in years of work to come to the end goal of selling this parcel for a strong return on his original investment.
The attorneys at the firm work daily with our domestic and foreign clients on purchasing, stabilizing, and managing their real estate investments. We also work with our clients in structuring their investments from the day-one to prepare for the day when our clients seek that final return on their real estate investments, such as this most recent sale.