Alto Real Estate Funds bought a Lincoln Road building for $18.9 million, marking the third South Beach retail deal so far this month.
Gombinski Properties sold the property at 900-904 Lincoln Road in Miami Beach to Alto Real Estate, which offers several funds to investors, according to deal broker Ran Ziv.
Ziv and Sean Shahad Ziv, both of GLT Group Brokerage, represented the seller and found the buyer.
Gombinski Properties, a family organization led by Steven Gombinski, bought the 7,142- square-foot property on the corner of Lincoln Road and Jefferson Avenue in 1985 for $235,000, records show. It is on less than 0.2 acres.