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ASG Unloads Third Design District Property
ASG Equities finalized the sale of 70-74 NE 40th Street, the last of a three-building retail portfolio within Miami’s famed Design District. Dacra acquired the property for $14 million.
Located in the heart of Miami’s high-end shopping district, 70-74 NE 40th Street is fully occupied by luxury brands Ksubi and Orlean. The freestanding, single-story building, features 4,500 square feet of retail space.
A few blocks away, ASG is working with its partner Helm Equities on Parterre 42, a 500,000-square-foot mixed-use project spanning an entire Design District block.
Headquartered in New York, ASG is the real estate family office of the Gindi family, which founded the Century 21 brand. Its portfolio holdings include Boston’s 28 Newbury Street, which is occupied by Cartier, and 4-6 Newbury Street, occupied by Chanel, as well as Toronto’s 100 Bloor Street, with a roster of tenants that includes Hermes, Burberry and Van Cleef Arpels.
- ◦Sale/Acquisition
