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| Little Havana Neighborhood, Miami, FL |
MIAMI, FL – The Keyes
Company’s Carlos Villanueva has completed the $5.6 million sale of a
portfolio of 57 rental apartments in Miami’s Little Havana neighborhood.
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| Carlos Villanueva |
The sale of the
five-building portfolio closed on Nov. 14. The properties are located at 2127,
2128, 2136 and 2248 SW Fifth St. and 2135 SW Sixth St.
Gateway Realty LLC
of New York is the buyer. The company obtained seller financing as part of the
transaction. Terms were not disclosed.
Villanueva
successfully secured the listing from the trust in a competitive process with
numerous brokers. JoAnn Cappelletti and her late husband,
U.S. Marine Corp. veteran and former Miami Beach police officer Mario,
had assembled the rental properties during the 1960s and 70s.
Interest in the
portfolio was strong, with most of the prospective buyers coming from New York.
“It was a pleasure
to facilitate the successful sale of this legacy portfolio in Little Havana,”
Villanueva said. “The neighborhood is experiencing a transformation and is
coveted by real estate investors and developers.
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| Mendel Fellig |
To close the sale,
Villanueva had to resolve multiple City of Miami code violations so the buyer
could acquire the properties with a clean slate. Significant improvements to the
properties are expected.
Little Havana is
seeing an influx of development activity, with a focus on boutique and
mid-sized multifamily projects. One development firm, Metronomic, has a dozen
projects planned for the neighborhood. Owners of existing buildings are
capitalizing on the overall activity as well.
 |
| Mike Pappas |
Keyes is the
largest independently owned real estate firm in Florida and a Top 30-ranked
firm in the entire United States, and is extremely active in
luxury residential real estate. In 2017, Keyes generated more than $6 billion
in real estate services across its Family of Companies.
Mendel Fellig of Compass
represented Gateway Realty in the Little Havana
transaction.
CONTACT:
Eric Kalis
Account Director, BoardroomPR
O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road
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