Record multifamily home sale in Little Havana

The buildings are of original construction proving the heat of the Miami market
  • sale represents record high per-unit price
  • Two 8-unit buildings in Little Havana sell on after less than three months
  • The buildings were originally constructed in the 1920s

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The Miami rental market is as hot as ever, and the recent closing of two Miami multifamily buildings by is proof of that. The buildings were on the market for 18 months prior to being listed with, after which the buildings were properly valued and sold in less than three months. The buildings were sold October 15 to Juan C. Alarcon for $1.449 million. He was the highest of nine bidders. The 1920s-era building features 16, one-bedroom, one-bathroom units with original wood and tile flooring. “We are very pleased with the successful auction and closing of these multifamily properties in Miami, which not only represent the upside potential of multifamily assets in this market, but the success that can be achieved by selling stabilized commercial real estate on the platform,” said Joe Cuomo, senior vice president of business development for said in a statment. The sale of the building represented a per-unit record of $90,...