Banesco USA provided loan to the buyer of an office building near Lincoln Road

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Banesco USA provided loan to the buyer of an office building near Lincoln Road

By Brian Bandell

Senior Reporter, South Florida Business Journal

Banesco USA financed office building near Lincoln Road

An affiliate of Miami-based Integra paid $10.1 million for a three-story office building just north of Lincoln Road in Miami Beach.

Ivy MBT Property, an affiliate of Ivy Realty in Montvale, New Jersey, sold the 33,384-square-foot office building at 1674 Meridian Ave. to 1674 Meridian Ventures LLC, an affiliate of Miami-based Integra led by Nelson Stabile. Banesco USA provided a $12.57 million loan to the buyer.

The price equated to $303 per square foot.

The office building was developed on the 8,250-square-foot lot in 1959. The ground-floor space is retail.

Office space in the building was recently listed for a lease online at $34.50 per square foot.

Visit the South Florida Business Journal for more details.

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