Award-winning developer El-Ad National Properties, an Elad Group company with South Florida-based offices, has acquired the property located at 3265 Virginia St. in Miami for $45.5 million.
Read more Actors’ Playhouse’s 35th annual Gala Auction raises over $150K
The acquisition, closed on May 14, represents El-Ad National Properties’ entrance into Coconut Grove as the firm continues to expand its presence throughout South Florida and evaluate strategic opportunities across Miami-Dade County.
Located in the heart of Coconut Grove, the property currently consists of a two-story residential building with 25 residential units and approximately 20,490 square feet. The site currently is occupied and operated as a residential rental property. The acquisition is intended as a future redevelopment opportunity, although plans for the site have not been finalized at this time.
Situated within one of Miami’s most desirable and established neighborhoods, the property offers close proximity to Brickell, Miami International Airport, major thoroughfares, shopping, dining and entertainment. Coconut Grove continues to experience significant investment and redevelopment activity, further positioning the neighborhood as one of South Florida’s premier residential and mixed-use destinations.
“Coconut Grove continues to stand out as one of Miami’s most established and sought-after neighborhoods, making it a natural fit for El-Ad National Properties as we continue expanding throughout South Florida,” said Matthew Jeffries, CEO of El-Ad National Properties. “We remain focused on identifying distinctive opportunities in premier locations that align with our long-term vision and development strategy across the region.”
The transaction was completed between purchaser El-Ad 3265 Virginia LLC and seller WNG Miami LLC. Omar Morales of Berkadia represented the seller in the transaction.
Read more Under The Spell of C.V. Shaw
The acquisition further expands El-Ad National Properties’ growing South Florida portfolio. In Miami-Dade County, the firm owns and is actively advancing waterfront residential development opportunities in North Bay Village, including planned luxury condominium projects on both West Drive and East Drive. The firm continues to pursue architecturally significant residential and mixed-use opportunities in highly desirable markets throughout the region.
For more information, visit https://eladnational.com/.
ABOUT US:
For more Miami community news, look no further than Miami Community Newspapers. This Miami online group of newspapers covers a variety of topics about the local community and beyond. Miami’s Community Newspapers offers daily news, online resources, podcasts and other multimedia content to keep readers informed. With topics ranging from local news to community events, Miami’s Community Newspapers is the ideal source for staying up to date with the latest news and happenings in the area.
This family-owned media company publishes more than a dozen neighborhood publications, magazines, special sections on their websites, newsletters, as well as distributing them in print throughout Miami Dade County from Aventura, Sunny Isles Beach, Miami Beach, Coral Gables, Brickell, Coconut Grove, Pinecrest, South Miami, Kendall, Palmetto Bay, Cutler Bay and Homestead. Each online publication and print editions provide comprehensive coverage of local news, events, business updates, lifestyle features, and local initiatives within its respective community.
Additionally, the newspaper has exclusive Miami community podcasts, providing listeners with an in-depth look into Miami’s culture. Whether you’re looking for local Miami news, or podcasts, Miami’s Community Newspapers has you covered. For more information, be sure to check out: https://communitynewspapers.com.
If you have any questions, feel free to email [email protected] or [email protected].
Read more The Best of Miami Started in a public school classroom