'Very, Very Seller-Friendly': Prime Miami Retail Properties Going To Auction

  • Jul 30, 2021
  • Marketplace In The News - Bisnow

On Tuesday, a 7,762 SF building at 226-228 Lincoln Road, Miami Beach's famed shopping street, traded for $5.8M. It was sold at auction. 

Karson & Co. founder and Managing Principal Arden Karson said that the seller, a private individual, had lost tenants during the coronavirus pandemic, didn't have debt service and the lender took title. She suggested an auction over a traditional sale as a way to create an exciting process, especially considering the desirability of the address. It ended up getting 15 bids and selling to a Los Angeles buyer for 10% more than the reserve price the seller had set.

Read the full story on Bisnow. 

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