MIAMI-A joint venture between two New York City-based firms has acquired a vacant lot in the city's Design District for $9 million.
The new owner of the property is MREG NE36 Owner, a partnership between Mack Real Estate Group and Wharton Equity Partners. The joint venture acquired the 1.4-acre site at 3635 N.E. First Ave. and 3604 to 3620 N.E. First Court from the Holy Cross Episcopal Church, according to the South Florida Business Journal.
Mack Real Estate Group Managing Director David Schore says the church property was demolished before the sale was finalized. He adds that any discussion of the firm's plans for the property would be premature. See story in the South Florida Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
