In what appears to be a race to pay the most for Design District property, this deal takes the cake. Actually, it takes the whole restaurant.
Miami Beach investor David Edelstein paid $65 million for three buildings in Miami’s Design District. The portfolio trading hands contains an atrium-style retail plaza at 130 NE 40th St. that includes one of Miami’s most notable foodie restaurants, a just-completed retail building next door and a single-story retail building at 135 NE 39th St. The square footage for the combined properties is approximately 22,000 square feet, according to leasing materials.
