A Los Angeles-based real estate investment firm has purchased a parcel from Miami Worldcenter, according to a source.
The transaction took place on Friday but isn’t yet showing in county records.
90 Northeast 11th Street, along with an alley behind the property, sold for $16.8 million. The sale includes 21,000 square feet of land, and equals exactly $800 per square foot.
An 11,250 square foot building, known for an “Adios” mural, will be demolished. A demolition permit had already been filed in October 2017, but was never pulled.
(photo: phillip pessar)
