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111-115 NE 40th St. 1030x385

The 5,875-square-foot building, constructed in 2014 on a 5,000-square-foot lot, previously sold for $21.5 million in 2016, reflecting a solid gain in value.

MiamiCentralStation_6

The price was not officially disclosed but people familiar with the deal stated it was more than $400 million and less than $500 million, with some sources saying the price was roughly $450 million.