The New York-based investor Brickman has purchased the 200 Southeast First building for $33.85 million, or $239 per square foot. The 12-story Class A, 141,687-square-foot tower is located at 200 Southeast First Street in downtown Miami. The property was bought out of foreclosure by Integra for $21 million in April 2014. Built in 1958, the building went through major renovations by Integra including a new exterior façade and signage, lobby upgrades, elevator and corridor finishes, new digital security cameras and a new HVAC chiller. Doug Mandel and Ben Silver of Marcus & Millichap’s Institutional Property Advisors, brokered the sale. “The market in downtown Miami was poised to breakout and was severely undervalued,” said Doug Mandel of Marcus & Millichap. “The property is squarely located between several major developments – a block from both Met 3 and Flagler Street projects.”
