Condo building on Lincoln Road listed for $55M
40-unit building, on west end of Lincoln Road, was built in 1985
November 18, 2015 04:50PM
Lincoln West Gardens in Miami Beach
Lincoln West Gardens, a low-rise condo building on Miami Beach’s Lincoln Road, has hit the market for $55 million.
Avison Young was tapped to list the 40-unit, bulk condo at 1250 Lincoln Road. Michael Fay, principal and managing director, and John Crotty, principal, are representing the owner LWG Condominium Association Inc. It was built in 1985, according to Miami-Dade County property records.
Prices have skyrocketed in the Lincoln Road district, most recently with the blockbuster sale of an entire block, from 1001 Lincoln Road through 1035 Lincoln Road, for $370 million. Retail rents on Lincoln Road ranked as the 10th most expensive in the United States, according to a Cushman & Wakefield research report released Wednesday.
The condo building is in a residential area one block west of the retail district, which starts at 1111 Lincoln Road, the Herzon & de Meuron-designed parking, retail and commercial garage. – Katherine Kallergis
Source: The Real Deal