Address
11441 Washington Avenue Miami Beach, FL

Location
Washington Ave & Espanola Way Corner

About This Property
1441 Washington Avenue is a historic building known as the McCory building among the Art Deco crowd in Miami Beach. You can learn more about the history of McCrory's by clicking here.

Gideon purchased the building from long-time ownership in the summer of 2013. This was the first sale in over 30 years.

The property was marketed to a limited number of buyers. Gideon was chosen by the seller and closed on schedule after a short due diligence period. Gideon's partners saw Washington Avenue as the next corridor due to experiencing the influx of international tourists and global market investment dollars. Gideon Asset Management is working with The City of Miami Beach and a Blue Ribbon Panel of Washington Avenue landlords, in order to redevelop the Washington Avenue corridor into a powerhouse of retail, multi-family, and hospitality.

Expected to open by 2017 - UCONN or the University of Connecticut is bringing a Downtown campus across the street from the property. This is anticipated to bring 2,500 students and 250 faculty members to the area. We see the long-term value here as the location continues an upward trend. We are planning upgrades to the building and we look forward to serving our tenants for many years to come.