Miami, July 13, 2022 – As Miami’s retail market continues to thrive, leading commercial real estate brokerage firm Marcus & Millichap (NYSE: MMI) facilitated the sale of Kitchen Social, a two-story, 4,900-square-foot property located at 3404 North Miami Ave in Miami, Florida. The property sold for $4.53 million.

Marcus & Millichap’s Senior Vice President of Investments Scott Sandelin, along with Jonathan De La Rosa marketed the triple-net leased property on behalf of the sellers, Aron and Shelby Rosenberg. Their company, New York-based R&B Realty Group, managed the property. Marcus & Millichap’s Glen D. Kunofsky and Richard Nardi of the Manhattan office procured the buyer, Adam Ramer. John Horowitz in Marcus & Millichap’s Brooklyn office served as the broker of record and assisted in closing the transaction.

“The continued demand for well-located second-generation restaurant space in South Florida provided the perfect opportunity to sell a property that was no longer part of our core portfolio,” said Shelby Rosenberg, R&B Realty’s Head of Development and Acquisitions, US Portfolio. “We continue to look for new opportunities in the South Florida market and beyond.”

Built in 1937, the Kitchen Social property went through a $2.5 million renovation in 2011, selling for $1.25 million the same year. According to property records, the building also sold for $3.25 million in 2015. The property was home to Prohibition Restaurant and Speakeasy until January 2022, and Kitchen Social Midtown opened in February 2022. 

“The recently created community vision plan and zoning overhaul for this area dubbed ‘Wynwood Norte’ has created a buzz and spurred activity in terms of sales and plans for future development projects within the district,” said Marcus & Millichap’s Scott Sandelin.

The 3,080-square-foot lot is centrally located in Midtown Miami, nestled among the Design District, Wynwood Arts District and the Adrienne Arsht Center for the Performing Arts just east of Interstate 95 (I-95) and within 10 minutes of Downtown Miami. 

The property is also adjacent to The Shops at Midtown Miami Mall, a 26-acre development featuring various retail and restaurants, including Nordstrom Rack, Target, Five Guys, Marshalls, Ross, Party City and more.