UPDATED, 5:10 p.m., June 29: Developer Manny Varas just sold a newly-built property in the Design District for $10.1 million, a considerable markdown from its listed price.
Perpetual Love Acquisitions LLC, a Delaware company, closed on the Mediterranean-style, three-story building at 4136 North Miami Avenue, said Dwntwn Realty Advisors’ Tony Arellano and David Spitz, who represented the seller.
The 16,900-square-foot building, which was completed in 2017, was on the market for $14 million, meaning it sold for 28 percent less than asking. Rena Kliot of Pulse International Realty represented the all-cash buyer.
Kliot, who declined to identify the buyer, said they plan to open a private language immersion school out of New York to focus on teaching languages such as Mandarin and Spanish. It will be the first school in South Florida for the unnamed foundation, Kliot said.
Varas previously said he bought the 9,400-square-foot development site with investors in 1999 for $500,000.
The $6 million construction project was partially financed with a $3.5 million construction loan.
Retail tenants in the Design District include Hermès, Louis Vuitton, Christian Dior, Bulgari and Prada. Developer Craig Robins of Dacra has led the neighborhood’s transformation into a luxury shopping district.
Fun For A Cause! Great day on the Golf Course with The Real Deal and our Colleagues co-Sponsoring a golf outing to raise money for the Orphaned Starfish Foundation. click here to see the photos.
"Pulse International Realty's Laura Keller represented the buyer. Keller, along with Pulse owner and broker Rena Kliot, declined to identify the buyer, but said he is an early investor in Bitcoin. "It actually went rather smoothly. We had two parties with the same mindset," Kliot said.... Read More on The Real Deal Miami
In January of this year, Latanya helped me close on my first condo in South Beach. The process of finding the right unit took some time but she was very patient with me and understood my demanding work schedule, which I know, made it a challenge for her at times to schedule showings. What I appreciated most was her ability to guide me through the financing process, as I was a first time homebuyer. Her knowledge of the area as well as the overall loan application process put me at ease. She negotiated a very great deal on my purchase and for that I am grateful. Latanya went above and beyond which is why I continue to work with her in my real estate investment ventures.
Ms Preston was very professional and she was very knowledgeable of the Miami Market. I have worked with her for 3 searches and all were successful. She completed comprehensive research and provided detailed background for each search. I felt confident in her prescreening of listings which helped with my busy schedule. I would definitely recommend her for rental and purchase
Good afternoon Rena,
I wanted to take this time to express to you know that it has been a pleasure working with Yanarys Fundora. The level of professionalism along with the customer service she provided was exceptional. I came into this process of buying a home very uneducated and she walked me and my family through everything. Even with the changes she was always very helpful at all times. We truly appreciate her and recognize her great efforts throughout our process. You have great team member which I am pretty sure you are already aware of that. Thank you all for your assistance and We wish you all health, love, and much much success!!
I was introduced to Rena from Pulse Realty several years ago and she did an amazing job helping us find a great condo in Sunny Isles. Since then I’ve recommended Rena to a number of friends and everyone was extremely happy with her knowledge and professionalism”