Miami real estate broker is recognized as top Deal Maker for arranging the $57.27 million sale of a 2.8-acre development site in downtown Miami to Related Group
Online PR News – 27-January-2015 – Miami, FL – Miami commercial real estate broker Alex Zylberglait is featured in the January/ February edition of the Commercial Investment Real Estate, a magazine published by the CCIM Institute. The publication, widely read by real estate professionals in the U.S. and abroad, selects a small number of real estate brokers nationwide to feature as ‘Deal Makers’ in every edition. The magazine editor selects an elite group of real estate brokers nationwide to highlight their blockbuster deals in the “The Biggest Deal” section
Zylberglait, first vice president of Investments in the Miami office of Marcus & Millichap, was selected by CIRE for brokering the $57.27 million sale of a 2.8-acre development site in downtown Miami. The transaction yielded $20 million an acre, a record price for downtown Miami’s Arts and Entertainment District. Miami condo developer Related Group acquired the property in October. The seller was Espacio Miami Properties, the U.S. arm of Spanish real estate firm Immobiliaria Espacio. Zylberglait marketed the property for Espacio and also represented Related.
The property consists of a three-story, 107,863-square- foot office mid-rise, a two-tenant retail building and a 19-unit apartment building. The site can be redeveloped into 1.3 million square feet of residential and commercial space, including on-site parking. Related Group plans to build nearly 2 million square feet of high-end residential and retail space as the Arts and Entertainment District is experiencing a construction boom. Several billion-dollar projects are underway in the area, including the Genting Group’s project on the former site of the Miami Herald building, a Marriott Hotel and Convention Center being developed by MDM Group and the new All Aboard Florida passenger rail’s Central Station and mixed-use complex. Zylberglait is currently working with several investors seeking to buy commercial properties for redevelopment in the district.
Zylberglait, who has a background in finance and real estate, has been involved in more than $1.5 billion in transactions in the last 12 years. He continues to be ranked one of the top Marcus & Millichap agents nationwide. Marcus & Millichap has 1,300 agents in more than 75 offices across the country.
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