By Balazs Szekely, Associate Editor
The Dade-Commonwealth Building, formerly known as the Meyer-Kiser Building in Downtown Miami traded hands in a deal worth $9.2 million, or $212 per square foot. The historic building at 139 NE 1st St. was completed in 1925, the same year as the Dade County Courthouse. In 1999, it was added to the U.S. National Register of Historic Places.
A joint venture between Chief Executive Officer Gilbert Benhamou of Immocorp Capital and Matthieu Merchadou-Melki, CEO of Wynwood Fund purchased the seven-story, 43,265-square-foot historic office building from Titan Development Partners.
Immocorp Capital, with headquarters in Miami and offices in Paris and Madrid, is a real estate developer which has been active in South Florida for the past two decades, with projects including the Harbour Center office building in Aventura as well as luxury condominiums Grand Venetian Miami Beach, Uptown Marina Loft and Artech in Aventura.
Wynwood Fund Florida is a sister company of Beekman Real Estate Investment Management, an international real estate investment, development and property management firm with offices in New York City, Paris and Chennai, India, with a focus on condominium and retail development.
Janet Crucet and Kristine Flook with Urbanize Properties, along with Mika Mattingly of Sterling Commercial, represented the buyer in the transaction. The seller was represented by Ana Ventura of RE2000 Group.
Photo credit: SebasTorrente (via Wikimedia Commons)