Doral investors — linked to the city’s mayor — picked up a 5,483-square-foot site of a neighborhood church in west Buena Vista, continuing a trend of properties trading in the area northwest of Miami’s Design District.
The property, at 4314 Northwest Second Avenue, sold for $515,000, The Real Deal has learned.
BD 4314 NW 2nd Avenue LLC was the buyer. Alexander Boria and Julio Delgado are listed on its corporate records with an address tied to a construction company in Doral. Alexander is the son of Doral mayor Luigi Boria, who was involved in an ethics investigation over a Doral development in 2007, Florida Watchdog reported last year. The Boria family owns real estate in South Florida. The Venezuelan family also owns TWC The Wise Computer, a firm that distributes electronics in Latin America.
Jon Gerszberg and Andy Charry of Marcus & Millichap represented the buyer, who they said has plans to reposition the property.
“I don’t think anything major is going to happen for years,” Gerszberg told TRD. “They’re buying to maybe sell in five to seven years.”
Next door, Miami Beach-based Wynwood Commercial Properties paid $665,000 for the 10,428-square-foot lot in February, Miami-Dade County property records show. Two blocks north, a grocery store at 4501 Northwest Second Avenue sold this week for $800,000.
The Design District spans roughly 10 square blocks, and when completed, will have 1.2 million square feet of mixed-use space. Developer Craig Robins, president and CEO of Dacra, is transforming the area into a luxury shopping destination, which will eventually include a hotel, office and residential.