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Miami Real Estate - Miami Real Estate news

Monday, August 30, 2010

Marina Blue space to open as eatery across from AAA

The Miami Heat and their new dream team have possibly had an effect on another downtown Miami real estate property, the Marina Blue Condos. According to a report from Condo Vultures, Sergey Novov, a Sunny Isles Beach investor, paid $410 per square foot, $2.1 million, for 5,100 square feet of ground-floor Miami retail space. The Miami commercial property is across the street from American Airlines Arena and is expected to become a restaurant and bar, possibly including a micro-brewery.

The corner space at 888 Biscayne Boulevard is the equivalent of three condo units. Marina Blue Condos sits diagonally across the street from the AAA and the Miami commercial property has been vacant for nearly two years.

According to, the principal of 888 Biscayne Holdings LLC, the Marina Blue seller, originally purchased 40,000 square feet as part of a $14.5 million transaction dated June 2008 but recorded in October 2008.

Call MLR Realty at 305-673-3303 to speak with a Realtor that specializes in downtown Miami condos and other Miami commercial properties for sale and for lease.


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