Miami, Florida – Beachler Investments has announced a new strategic partnership and the acquisition of a premier development site at 1234 and 1260 Washington Avenue in Miami Beach for $17.5 million. This strategic purchase reinforces Beachler Investments’ commitment to high-value real estate opportunities in South Florida’s thriving market.
Andrew Beachler, CEO of Beachler Investments, expressed his excitement about the acquisition, “This site on Washington Avenue represents a rare opportunity to bring transformative development to the heart of Miami Beach. Our vision is to deliver a project that blends innovative design with community-driven purpose, supporting the city’s dynamic growth while honoring its unique culture and heritage.”
The 33,525-square-foot site has remained inactive since a 2023 stop-work order. Beachler Investments plans to revitalize the property with a focus on sustainable and community-centric redevelopment. This project aligns with the company’s mission to foster livability and economic vitality through thoughtful, high-impact investments.
Key Transaction Details
- Property Address: 1234-1260 Washington Avenue, Miami Beach, FL 33139
- Transaction Amount: $17.5 million
- Square Footage: 33,525 SF
- Price Per Square Foot: $522
- Buyer: Pakman Miami Beach LLC (Principals: Kash Patel, Andrew Beachler, Bradley Williams)
- Seller: Rishi Kapoor – Urbin Miami Beach Owner LLC
- Date of Transaction: November 14, 2024
Financing and Development Plans
Pakman Miami Beach LLC secured $21.5 million in financing through Vertix Group, facilitated by Altamar Funding 3 Lender LLC. This robust financial backing, combined with Beachler Investments’ experienced leadership, ensures the project’s successful execution and long-term value creation.
About Beachler Investments
Beachler Investments is a leading real estate investment and development firm specializing in identifying and revitalizing high-value properties in competitive markets. Under the leadership of Andrew Beachler, the firm is committed to creating sustainable, innovative developments that enhance communities and drive economic growth.