APEX Capital Realty has completed the closing of a 222,277-square-foot development site located at 2140 NE 2nd Avenue in Miami. The buyer, Heritage Equity Partners, intends to replace an existing vacant building with a multifamily asset.

The company’s Miguel Pinto represented the seller, James Kaufman, while APEX’S Jamie Rose Maniscalco, Alexandros Tsoulfas and Miguel Pinto represented the buyer.

The sits in the Miami neighborhood of Edgewater, between the new Braman Collection of dealerships and the National Young Arts Foundation. The site is situated near the proposed Wynwood Brightline and Coastal Link stop.

“Edgewater is a bustling neighborhood where demand for land is extremely high,” said Pinto. “Knowing this, Heritage Equity Partners jumped at the chance to purchase 2140 NE 2nd Avenue. This location will no doubt become a significant asset as they aim to make a splash in the South Florida market.”