The numbers aren’t big but what the sale of 501 Northeast First Avenue means for the further development of downtown Miami could be. Aztec Group just brokered the sale of the office building, which is literally steps away from Miami Dade College Wolfson Campus and close to the American Airlines Arena and the future Miami Worldcenter mixed-use development, for $8.25 million.
“Miami’s central business district is one of the last bastions of dealmaking with Miami locals,” Aztec vice president Jason Katz said. “In some cases, owners have held properties in their families for over 30 years. Selling properties like 501 Northeast First Avenue requires both an intimate knowledge of the city’s history and a vision for the neighborhood’s future.”
