For Immediate Release
Fifteen Group Announces Sale of 1759 Bay Road
Tuesday, October 26, 2010 9:00 A.M. Eastern Time
Miami Beach, Florida — Miami Beach-based Fifteen Group has completed the sale of 1759 Bay Road in Miami Beach, FL. The 15,500 square foot building on 24,000 square feet of land, which is located in Miami Beach’s burgeoning Sunset Harbor district, previously served as the headquarters for an international yacht charter company.
“The Sunset Harbor area has matured even quicker than we anticipated leading us to exit sooner than we expected,” said Fifteen Group Principal Mark Sanders. “We will continue to pursue niche commercial and land acquisitions in Miami Beach and Miami while also continuing with our broader multifamily platform.”
Fifteen Group acquired the property in a foreclosure auction in May 2009.