Acruva Capital Partners Acquires Development Site In Allapattah For $2.25M

A development site located at 3501 NW 27th Ave in Allapattah was recently sold for a price of $2,250,000. The property spans a total of 26,588 square feet and was sold at a rate of $85 per square foot. The buyer of the property was Acruva Capital Partners, represented by Daniel Acosta and Timothy Babcock. The seller of the property was Istel Investments, with Ismael Telfeja as the seller's representative from RE/Max 360. The transaction took place on March 17, 2022.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $2,250,000
• Address: 3501 NW 27th Ave, Allapattah
• Market: Allapattah
• Buyer: Acruva Capital Partners - Daniel Acosta and Timothy Babcock
• Seller: Istel Investments - Ismael Telfeja
• Buyer's Representative: Alejandro Snyder & Michael B. Williams - Current Real Estate Advisors
• Seller's Representative: Agustin Duarte - RE/Max 360

Alejandro Snyder and Michael B. Williams from Current Real Estate Advisors represented the buyer, while Agustin Duarte from RE/Max 360 represented the seller in this transaction. The property has a building square footage of 132,526, resulting in a price per buildable square foot of $20. This deal signifies a successful transaction in the Allapattah area, further contributing to the growth and development of the local real estate market.