An affiliate of New York-based TriStar Capital and New York-based RAL Development Services paid $13 million for a building in Miami’s Wynwood Arts District to set up a major development.
JCR Investments of Boca Raton, managed by Ok Bun Yu in Boca Raton, sold the 31,250-square-foot site at 2701 N.W. Fifth Ave.
The buyer was Brownstar LLC, managed in partnership with RAL and TriStar, a major commercial real estate developer led by and David Edelstein. Dallas-based Comerica Bank provided a $12.1 million mortgage to the buyer.
The property has a 20,239-square-foot building that was constructed in 1963 and recently housed clothing and jewelry retailers.
Click here to read more about this story.
Previous article
Development Site In Downtown Miami Sells For $10 Million
Next article
Developer Proposes 12-Story Building Near Future Brightline Station In Aventura