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RFR Buys Third Building On Miami Block For $451 PSF

The 99-year-old Bayside Office Center in downtown Miami sold for $25 million, apparently as part of RFR Holdings’ move to acquire most of a full block in downtown Miami.

Bayside Office Center LLC sold the 44,431-square-foot office building at 141 N.E. Third Ave. The buyer was 141 NE Third LLC, which state records show is affiliated with New York-based RFR Holdings. The price equated to $451 a square foot.

The same family group has owned this building since 1978, when it traded for $580,000.

Rising 12 stories, the building was constructed on the 5,297-square-foot site in 1923 and renovated in 1986.

RFR appears to be positioning itself for a major real estate investment in a prime site opposite Bayfront Park.


Source:  SFBJ

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