A parking lot near some popular restaurants in the South of Fifth neighborhood of Miami Beach sold for $20 million in two deeds.
Kaine Parking 125 LLC, managed by Patricia M. Kaine in Miami, and the Lawrence F. Kaine Living Trust, with Patricia Kaine as trustee, sold the 26,000-square-foot parking lot at 125-151 Collins Ave. The buyer was 125 Collins LLC, managed by Miami-based attorney Brenden D. Soucy. The price equates to $769 a square foot.
The property is zoned multifamily, so it has development potential as well.