New York developer Steven Samuels just paid $7.35 million for a vacant 60,000-square-foot industrial/flex building in Hollywood, with plans to reconfigure and re-tenant the property.
A company led by Ervin Mendel and Sam Yecutieli sold the 2.5-acre parcel at 2850 Greene Street. The partners are related to the operators of the indoor trampoline center Off The Wall Family Entertainment. Records show they paid $5 million for the property in 2016.
Ted Konigsberg of Infinity Commercial Real Estate represented the sellers. He said they began letting go of tenants after purchasing the property to potentially build-out an entertainment facility, but plans fell through. Instead, the sellers intend to use the proceeds of the sale to open additional Off The Wall centers throughout South Florida, according to a press release.
The property features a mix of office, showroom and distribution space. Other features include an elevator that connects to upstairs offices, 24-foot ceiling heights and parking. It is located between Stirling Road and Sheridan Street, has frontage along I-95.
