Archives for posts with tag: Investments

 

Le-Petite-Maison-and-Fabio-Faerman

BrickellHouse & Fabio Faerman on the article published at TRD-Miami

 

July 25, 2017 (Miami, FL)Fabio Faerman Fortune International Realty/FA Commercial Advisors completed the sale of Brickell House ground floor retail at 1300 Brickell Bay Drive in Miami, Florida, to a European private investor. Brickell House’s high-end retail space was sold for $5.2 million and the sale netted 5% CAP rate for the investor. Mr. Faerman represented both parties in the transaction.

The commercial space totals 4,083 square feet on the ground floor and 1,104 square feet on the mezzanine level. The sale breaks down to about $1000 per square foot. The subject property houses “La Petite Maison” – the famous upscale French-Mediterranean eatery with locations in Dubai and London.

This is the first US location for the London-based French restaurant. Arjun Waney, the restaurateur known for Zuma and most recently Doa, is behind the international concept of “La Petite Maison”

Faerman, FIR Commercial Director and FA Commercial CEO, commented on the latest transaction. “This is a high-quality, class “A” asset with an excellent credit tenant in place – La Petite Maison – in an extremely strong submarket such as Brickell. This income producing property certainly represented a unique opportunity to own a prime retail space in Brickell, a very attractive market to both local and international investors.”

Miami is undoubtedly a global destination; a cultural and social axis where people and cultures mingle and grow, creating a metropolitan platform ideal for cultural and international venues.

Fabio Faerman and his team have consistently contributed to the progress of Brickell and the entire South Florida commercial real estate landscape by acting as a broker/consultant on high-profile transactions. Recently, Mr. Faerman proudly assisted on the closing of notable deals such as Cipriani, a luxury restaurant owned by the sons of famed restaurateur Giuseppe Cipriani,  and La Cantina Veinte, a refined Mexican locale in a glitzy space with an outdoor patio and authentic curios in the heart of Brickell.

 

 

About Fabio Faerman

CEO of FA Commercial Advisors and the Commercial Division at Fortune International Realty. Also, a CCIM member, Commercial Real Estate Investment Advisor, Broker Associate, and for the last four consecutive years, he has been awarded as the #1 Nationwide Top Broker of Fortune International Realty.

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iconThe ultimate recovery for the South Florida real estate market may end up coming in the form of entrepreneurs from the east. Chinese investors have been extremely active in the South Florida area, taking advantage of prices that are still relatively low due to the market crash in 2008.

Increasingly, the Chinese have passed on cities where real estate prices have made a stronger recovery due to the great deals on the sunny shores of South Florida. This trend, which has been unique to this particular real estate cycle, has created the opportunity for many brokers to create strong and lasting relationships with Chinese investors.

Our very own Fabio Faerman has forged some of these relationships himself. Faerman claims that the Chinese tend to be very meticulous when searching for property, making sure to invest their funds with extreme care.

Faerman represented FX South Miami, led by Jeffrey and Corey Chen, in their acquisition of a $5 million development site in Brickell during late 2011. Faerman claims that somewhere around 70 percent of Chinese investors that he has worked with have no plans to rent out the properties they purchase, instead using them as a part-time residence or as homes for their young-adult kids.

Given that the real estate market is in the process of recovery, it is important for buyers to come from any and all markets. Investments such as these make the South Florida area the ultimate melting pot in the United States. Whatever the cause, rent or part-time residence, the South Florida markets appreciate the investment from the east.