An apartment building in South Beach sold for $14.6 million

March 13, 2018

An apartment building in South Beach sold for $14.6 million, or $540,741 per unit.
TwoFifty Collins LLC, managed by Simone Frangi of Switzerland, sold the 27-unit apartment complex to 250 Collins Propco LLC, managed by Gonzalo Manuel Chueca Peirote in Miami. Emerald Creek Capital 3 LLC provided a $9.25 million mortgage to the buyer.
The three-story apartment building was constructed on the 13,000-square-foot site in the South of Fifth neighborhood in 1959 and has a historic designation from the city. It last traded for $3.8 million in 2008, although it was recently renovated.
According to a sales brochure, the property had a major interior renovation by Samuel Amoia featuring new appliances and finishes to the units, plus a rooftop pool deck was added.

Press info The Real Deal South Florida

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