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Benjamin W. Schall Of AvalonBay Communities Acquires Development Site In Miami For $10M

Property Image
SOLD
$10,000,000

Florida

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Development Site17,686 SF
Sold 12/09/2025
the dealdetailscomps
Property Image
SOLD

Benjamin W. Schall Of AvalonBay Communities Acquires Development Site In Miami For $10M

2340 Southwest 32nd Avenue

See Similar Deals
Development Site17,686 SF
Sold 12/09/2025
the dealdetailscomps

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$565
Total Square Footage:17,686 SF
Transaction Type:Sale

AvalonBay Communities purchased a development site consisting of 1.5 acres located at 2340 Southwest 32nd Avenue, 3224, 3232 Southwest 23rd Street, and 3219 & 3209 Southwest 23rd Terrace in Miami. The asset includes a 17,686-SF wedding hall and a neighboring duplex, acquired for a total of $10,000,000. The property equates to a price per square foot of $565.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $10,000,000
  • Square Footage: 17,686
  • Price per Square Foot: $565
  • Buyer: Benjamin W. Schall - AvalonBay Communities
  • Seller: Ross Maria Carreras - Renaissance at the Gables
  • Market: Miami
  • Acres: 1.5

Kanso Coral Way LLC, an affiliate of AvalonBay Communities, executed the acquisition, which included a wedding hall and duplex. The city previously approved plans for a future development of a 269-unit, eight-story assisted living project on this site, although construction has not yet commenced.

Players

AvalonBay Communities
AvalonBay Communities
BUYER

Details

SOLD
IMAGE: Benjamin W. Schall DATE: 12/09/2025 ADDRESS: 2340 Southwest 32nd Avenue, 3224, 3232 Southwest 23rd Street, 3219 & 3209 Southwest 23rd Terrace MARKET: Miami ASSET TYPE: Development Site ~ ACRES: 1.5 BUYER: Benjamin W. Schall - AvalonBay Communities (@AvalonBayCommunities) SELLER: Ross Maria Carreras - Renaissance at the Gables SALE PRICE: $10,000,000 SF: 17,686 ~ PPSF: $565 NOTE: AvalonBay Communities affiliate Kanso Coral Way LLC bought a 1.5-acre Coral Way redevelopment site, including a 17,686-SF wedding hall and neighboring duplex, for a combined $11.12M from Renaissance at the Gables. The city had previously approved plans for a 269-unit, eight-story assisted living project on the site, though no construction has started

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