AMAC has acquired 1800 Alton, a trophy urban retail center in Miami Beach for $32.5 million from Saber 1800 Alton, LLC.
Acquired in partnership with Daniel Neary, a Miami Beach real estate developer, the property is prominently located in Sunset Harbour at the intersection of Alton Road and 18th Street with great visibility on one of Miami Beach’s busiest intersections.
Designed by award-winning, Miami-based architect Kobi Karp and built in 2018, the five-story urban center contains 31,840 square feet of class “A” retail and 136 parking spaces across the three-level parking garage. The property currently contains two long-term tenants and two vacant spaces on the ground floor measuring 2,233 and 1,803 square feet.
“We are thrilled to complete the acquisition of the class A property developed by Saber in one of Miami’s most desirable locations,” said Maurice Kaufman, Founding Principal at AMAC. “We are committed to the long-term future of Sunset Harbour and have already received strong interest in the property.”
1800 Alton is ideally positioned in Sunset Harbour, the vibrant neighborhood at the gateway into South Beach, with many high-end residential buildings, retail spaces, and the Sunset Harbour Marina.
Jordan Gimelstein and David Spitz of the Koniver Stern Group were the sole brokers on the sale of 1800 Alton Road. Jordan and David are the Directors of the Investment Sales division at Koniver Stern Group and have been involved in many high street transactions throughout the Urban Core of Miami and Miami Beach.