South Florida investor scooped up 1.15 acres of Miami Worldcenter. Price: $24M
A local investor bought one of the few remaining pieces of land at Miami Worldcenter.
Sankesh Abbhi, the founder of the Coral Gables-based Abbhi Capital, spent $24 million on 1.15 acres at Miami Worldcenter. The firm invests in real estate, hospitality, healthcare and technology. The site is located near 1016 NE Second Ave., according to the South Florida Business Journal, which first reported the sale. The firm did not share its plans for the site.
“Abbhi Capital is excited to partner with Miami Worldcenter in this once-in-a-generation opportunity to reshape the Miami skyline,” Abbhi said in a statement.
.jpg)
The firm has other real estate holdings in New York City, Philadelphia, Portland and, in India, Bangalore and Mysore, according to the company’s website.
The Chicago-based development firm Akara Partners purchased an acre of Miami Worldcenter for $18.85 million in July. The site will be home to the residential tower Kenect Miami.
The last remaining vacant land, a total of 2.18 acres, at Miami Worldcenter went on the market in October 2019. Now, less than an acre remains for sale.
