Oak Row Equities announced the acquisition of 49 NW 5th Street in downtown Miami. First & Fifth, a brand-new luxury multifamily tower, will rise across from MiamiCentral Station — the hub of all four major train systems in South Florida. Oak Row Equities purchased the $38.5 million site off-market and structured seller financing supported by in-place income at a time of limited land acquisitions in the market. The location for First & Fifth features a rare perfect transit score of 100.
Colliers, the South Florida Urban Core Team and Pastore and Associates represented the seller in the transaction.
First & Fifth is a 700,000-gross-square-foot development with 500 luxurious multifamily units featuring top-of-the-line finishes, views, an amenity package and transit access.
First & Fifth is located diagonally across from the entrance to MiamiCentral Station. MiamiCentral is the connecting point for the Brightline, Metrorail, Tri-Rail and Metromover
