Tony Cho
The site of the unfinished Filling Station condominium project north of downtown Miami has been sold for $9.2 million.
A partnership between Miami-based NR Investments LLC and Aventura-based Taho Investments LLC closed Friday on the acquisition, according to an announcement from the buyers' brokerage. The companies plan to spend about $11 million to finish the 81-unit apartment project at 1650 NE Miami Court by the first quarter of 2014. The project includes ground-floor retail space.
The transaction has not been recorded by Miami-Dade County.
The seller is PAC Capital LLC, a Miami company managed by members of the Galbut family.
Construction of Filling Station was halted in 2010.
Metro 1 Properties Inc. president Tony Cho and commercial associates Fabian Graff and Mike Mattingly represented the buyers. Robert Kaplan of Ackman-Ziff Real Estate Group LLC represented PAC Capital in the sale.
Eric Kalis can be reached at (305) 347-6651.
