LNDMRK sells commercial property near Miami Design District for $9 million – Commercial Observer

Alex Karakhanyanit’s LNDMRK Development sold a commercial building near the Miami Design District for $8.5 million, according to the brokerage DWNTWN Real Estate Advisorswho represented both parties in the transaction.

The one-story property, currently rented to a luxury furniture supplier Kitchens by Studio Kazaspans 4,431 square feet.

This is the first commercial real estate acquisition for the buyer, a private investor Glenn Braswell Jr., whose instagram page portrays a love of luxury clothes and cars.

Following the sale, Kitchens by Studio Kaza will remain the tenant.

Located at 3740 NE Second Avenuethe building sits alongside other furniture showrooms on what is called Design Row, just south of Dacra‘s Design District shopping complex. Along NE Second Avenue, luxury furniture maker Eichholtz sign an 11,882 square foot lease last month.

LNDMRK Development paid $5.9 million in 2017 for the standalone property, which was built in 1951, property records show. The company is active in the nearby town of Wynwood, where last month it caught Blockchain.com as a tenant.

DWNTWN Tony Arellano and Devlin Marinoff represented the seller, while Max Loriealso of DWNTWN, represented the purchaser.

Julia Echikson can be contacted at [email protected].

About Gertrude H. Kerr

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