From left: Jason Weisman and Tony Cho
An affiliate Brooklyn, N.Y.-based Forte Capital bought a 22,462-square-foot building at 48 Northwest 25th Street in Miami’s Wynwood art district with plans to redevelop it into a showroom, restaurant and retail site.
“This transaction represents a rapidly increasing presence of high-profile investors from New York and beyond who believe in the emerging neighborhood of Wynwood as a future hub for retail, office and residential use,” according to Metro 1 Commercial agent Jason Weisman, who represented the buyer in the deal.
The seller was Robert H. Frehling, who runs the company 48 NW 25 St. Ltd. Metro 1 Commercial head Tony Cho represented him.
TotalBank, based in Miami, granted the buyer a $2.92 million mortgage. [South Florida Business Journal] — Mark Maurer
via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/V7AkwRTPchY/
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