NoMi Media Center in North Miami hits the market at $6.25M
Office building’s price breaks down to $260 per square foot
December 29, 2016 04:30PMBy Ina Cordle
NoMi Media Center
The NoMi Media Center building in North Miami just hit the market for $6.25 million, CoStar Group data shows.
The four-story office building at 1125 Northeast 25th Street encompasses 24,038 square feet, and was built in 1971. The price breaks down to $260 per square foot.
Miami-Dade County records show the owner as Nomi Media Center, linked to UV Group, led by Uri Segev. Property records show the entity gained ownership control in 2013, when 1125 NE 25th St. LLC, led by Maritza Jaime, filed a quit claim deed.
According to CoStar, the building is 86.2 percent leased, with multiple tenants. It sits on a 1.05 acre site with a parking lot, and recently underwent indoor and outdoor renovations, according to its website.
The North Miami area has seen a number of sales in recent months. In October, a South American investment group paid $7.85 million for a 1985 medical office building at 11645 Biscayne Boulevard. Last year, Nancy Karp paid $2.7 million for the neighboring office building at 11601 Biscayne Boulevard with plans to reposition the three-story property.
On 140th Street and Biscayne, the Blackstone Group paid $117 million in July to acquire the Portofino at Biscayne, a sprawling 871-unit apartment complex.
And also nearby is Causeway Village, a proposed 529,860-square-foot mixed-use development in North Miami on 4.13 acres. Taubco plans a nine-story complex at 1850 Northeast 123rd Street, with 297 luxury apartments designed to attract mostly younger, working professionals.
Source: The Real Deal