Miami Apartment Home Community Trades In $40.8 Million Off-Market Deal
Ronald Meyerson, P.A, Senior VP of Multifamily Sales with Cedano Realty Advisors, represented the buyer, The Lynd Company in the purchase.
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Ronald Meyerson, P.A, Senior VP of Multifamily Sales with Cedano Realty Advisors, represented the buyer, The Lynd Company in the purchase.
Phase I of the project was completed in 2020 and experienced rapid leasing velocity through the pandemic and is currently 99% occupied. Phase II is under construction and scheduled for completion in 2022. Upon completion, the project will total 401 units.
Located at 3601 North Miami Avenue in Miami, the site sits at the gateway of three of Miami’s three most dynamic, high-growth districts: Miami Design District, Midtown Miami, and Wynwood.
The project spans across nine waterfront acres.
The tenant now occupies the building’s first and second floor spanning over 95,000 square feet of office space, accounting for the majority of the building.
Richard was a fixture in the commercial real estate world in Broward and Palm Beach Counties, forever networking and enjoying countless industry events.
New York-based Angelo, Gordon & Co., L.P. (“Angelo Gordon”) and Delray Beach-based Redfearn Capital formed a new programmatic joint venture to acquire value-add industrial properties throughout Florida with a concentration in South Florida.
Prakas & Co. owner and restaurant consultant Tom Prakas along with sales associates Chas Prakas and Athan Prakas II exclusively represented the buyer and seller in the sale.
At $226 per square foot, the sale represents the highest price per square foot in Cypress Creek over the past decade.
Newmark’s Executive Managing Directors Steve Medwin and Nick Wigoda, along with Managing Director Alan Long, were the sole brokers on the transaction.
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