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Logik Tower Site Sells For $3.5 Million, Residential Planned

Logik Tower Site Sells For $3.5 Million, Residential Planned

The site of the stalled Logik office tower at 530 Northwest 1st Court has been sold for $3.5 million. The sale closed last week.

Buyer Krystal Investment Solution LLC is planning to reposition the property for residential use.

Matthew Jacocks, a Sales Director at Capital Commercial Real Estate Group, Inc. represented the seller. Jacocks tells exMiami that the city placed a demolition order on the half-built structure while the property was under contract, complicating the sale. The Seller and Buyer managed to have the demolition order removed after engineers deemed the structure to be safe.

A neighboring property is said to be under contract to a high-profile developer. In addition, All Aboard Florida and Don Peebles are planning a major project on CRA-owned land across the street.

PreviouslyUnarrested Development: Logik Tower In Residential Reboot

 

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joe gabris
joe gabris

Logik Tower was originally listed by Joseph Gabris and Michelle Vazquez who after performing all required research and negotiation of the trophy property were mysteriously fired by Matthew Jacocks. Jaycocks also threatened Gabris and Vazquez with litigation if they would attempt to collect part of the commission.