X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the multifamily market.)

MIAMI-Locally based Alayo Building Co. and Grupo San Jose SA are planning to break ground in January on Lincoln Square, an $11-million, 35-unit condominium building. The project is rising at 1681 West Ave.

The project, which will include 6,000 sf of retail on the ground level, is being designed by New York-based architects Alayo Architects. The building is designed to be a hybrid of a modern glass tower and garden courtyard and will feature expansive windows and wrap-around balconies with an atrium and roof deck serving as a common meeting and circulation space. The project is expected to be completed in fall 2009.

Alayo Building Co. principal Juan Alayo tells GlobeSt.com that the project is located at 17th Street, one of the main entrances to Miami Beach. “We’re a block away from Lincoln Road,” he says. “That side of West Avenue is a very established residential neighborhood but it also has a commercial presence.”

Sales of the units are being handled by Gary Hennes Realtors. Prices for the residential units start in the $300,000s and for the retail units start in the $700,000s for a 900-sf to 1,000-sf space. Alayo says three residential units have been sold. “We anticipate that the retail buyers will be local established businesses that see the benefit to owning their own space,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.