Fortune | Miami real estate and preconstruction news
April, 27 2015

Fabio Faerman, Fortune's Commercial Division Director, and his team have just closed another deal for retail space in iconbrickell

The property is currently leased to high-end restaurant Cipriani, it was marketed off market and sold within one month for $7.6 million to an investor who purchases investment properties.


Mr. Faerman represented both seller and buyer. This magnificent retail space totals 11,071 square feet composed of 3 floors with covered and open air terraces apart from the main restaurant space; kitchen space in lobby level, back of the house, storage spaces, built out bathrooms and direct river-walk access. The price per square foot totaled at $686 per square foot.


Icon retail faces the Miami River waters, and is surrounded by a bay walking area. Beautiful and relaxing views come with the space, displaying a view of the breathtaking waterfront; which manifests the reputation as a must-see destination in one of the most active areas in the city of Miami.


Fabio Faerman another record commercial dial


This month, Mr. Faerman also closed the sale of the retail spaces located on the ground and mezzanine levels of Brickell's Millecento.


The retail spaces were sold for $10.5 million totaling 17,500sq.ft. of retail space. This deal brings the price per square foot to $650. This property was purchased in 2013 at pre-construction prices. Fortune's Commercial Division estimates that the prices have doubled since then.


Fabio Faerman represented the buyer, a group of South American investors.



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