Chiron Investment Management: Miami Worldcenter developer sells nightclub building for $16.5M

The developer of the $2 billion Miami Worldcenter project has sold a former nightclub building in the Overtown neighborhood for $16.54 million. Miami First LLC, managed by Nitin Motwani of Boca Raton-based Miami Worldcenter Associates, sold the 11,250-square-foot building at 90 N.E. 11th St. to the combination of PUG44 LLC (27.7 percent), PUG45 LLC (34.5 percent) and MRC44 LLC (37.9 percent). All three buyers are managed by Romie Chaudhari, CEO of Los Angeles-based family wealth management firm...