The retail space at the base of the Decoplage condo on Lincoln Road in South Beach sold for $17.32 million after it was seized in foreclosure last year.

Lincoln Holdings 100 LLC, an affiliate of Dover, Delaware-based LoanCore Capital, sold the 13,480 square feet of retail at 100 Lincoln Road, Units CU-1, CU-2, CU-39 and CU-40. The buyer was 100 Lincoln Road LLC, care of Beverly Hills, California-based Algo Yoga. Property data firm Vizzda confirmed the buyer and seller information.

The price equated to $1,285 per square foot.

David Abrams and Eliot Goldschmidt of Masonre represented the buyer in the deal, while Michael Grinfeld and Michael Comras of Comras Co. worked with the seller.

The property was seized at foreclosure auction in January 2023. LoanCore Capital filed a $30.75 million foreclosure lawsuit against the previous owner of the property in 2021 and ultimately won a foreclosure judgment. Prior to that, it last traded for $28 million in 2014, when Walgreens was still a tenant there. The Walgreens there later closed and the space is mostly vacant now.

That means the recent price of $17.32 million was lower than both the 2014 sales price and the mortgage that resulted in the foreclosure.

The property was developed in 1965.