SPACEBY3

Miami, USA

MB America assisted a private investor in the sourcing, renovation and management of SPACEBY3, a 1920’s complex of warehouses converted into blank-canvas spaces for hire, in Wynwood Art District. SPACEBY3 is a versatile venue with an iconic redbrick façade, 22-foot high vaulted ceilings, outdoor space and 33,474 square feet of contiguous, single-level area. Every aspect of this location was carefully designed with the Art District in mind, drawing inspiration from and celebrating the rich heritage of this thriving neighborhood. MB America sold SPACEBY3 on behalf of its private clients for USD 11 million, with a 57% return for the client within just over one year.

Date Purchased

May 2014

PuRCHASE PRICE

$7,000,000

rental range

N/A

LIST PRICE

$11,000,000

DATE SOLD

November 2015

SALE PRICE

$11,000,000

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