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MIAMI-WRH Royal Ltd. has sold the high-rise office building at 701 SW 27 Ave. to Shavout Realty Ltd. for $8.45 million, or $21.95 per sf., according to Integra Realty Resources, AREEA/South Florida, a Miami real estate research organization. Murray Dalfen of Quebec is the principal of Shavout Realty.

The purchase was financed with a $3.36 million advance by Mellon United National Bank, in addition to an existing loan of $7.5 million, bringing the current amount due to $10.75 million.

The 15-story office project, with a total of 385,038 sf gross, was completed in 1974. The property has 90,800 sf of offices, plus 46,370 sf of stores and a parking garage.

The original developer had financing on the property for $10 million. In a 1997 foreclosure action, WRH Royal Ltd. took title with a bid of $3 million.

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