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Former Tallest Building in Downtown Miami Sells For $9.2M

What was once the tallest building in Downtown Miami standing just seven stories high is about to receive a complete makeover after the 90-year-old Dade-Commonwealth property sold for $9.2 million.

Located at 139 N.E. 1st Street just a few blocks from Bayfront Park, the 43,265-square-foot building was sold by Titan Development Partner in a joint venture to Immocorp Capital and Wynwood Fund.
"We intend to revitalize this corner in the heart of Downtown Miami," Gilbert Benhamou of Immocorp Capital said. "This is an iconic building that, once upon a time, was the tallest building in Downtown Miami. We were seduced with the historical aspect and story of the Dade-Commonwealth Building."

A unique feature: the building still has a 32-ton magisterial stainless steel vault.

· Ninety-Year-Old Miami Building Sold For $9.2 Million [Biz Journals]
· 139 N.E. 1st Street [Loop Net]