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
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!!
Latanya is a top-notch professional who worked very hard to sell my condo. She did everything possible to ensure my condo got sold. She regularly updated me throughout the whole process. I live abroad and there were many problems that needed to be dealt with onsite in Miami. Latanya took complete control and always got things done. This included dealing with the condo management office, purchasing new appliances, getting quotes from contractors and even overseeing the contractors work. Nobody could have done a better job! I highly recommend Latanya - she is truly a five star realtor!
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.
Friendly agents and staff always willing to help - they make it easy!