Mill Creek Residential And Adler Development Acquire Development Site In Miami For $17.5M

A development site located at 230 SW 2nd Avenue in Miami has been sold for $17,500,000. The property spans approximately 0.9 acres and is being acquired by Mill Creek Residential and Adler Development from the seller, Adler Group. The transaction took place on December 20, 2021.

Summary of transaction details:

• Property Type: Development Site
• Sale Price: $17,500,000
• Address: 230 SW 2nd Avenue
• Market: Miami
• Buyer: Mill Creek Residential and Adler Development
• Seller: Adler Group
• Brokers: Jaret Turkell, Roberto Pesant, Omar Morales, and Jose Mota - Berkadia
• Units: 428
• Price per Unit (PPU): $40,888

Jaret Turkell, Roberto Pesant, Omar Morales, and Jose Mota from Berkadia acted as the brokers in this transaction. This sale represents a significant investment in the Miami market.