MG Developer Acquires 1.1 Acre Development Site In Coral Gables For $19.3M

Located in Coral Gables, this 1.1-acre development site at 42 Navarre Avenue changed hands in a recent transaction. The sale of the property was completed on 06/27/2022.

Summary of Transaction Details

• Property Type: Development Site
• Sale Price: $19,300,000
• Address: 42 Navarre Avenue, Coral Gables
• Market: Coral Gables
• Image: Alirio Torrealba

The buyer for this transaction was MG Developer, represented by Alirio Torrealba. On the other side, Florida East Coast Realty, represented by the Hollo Family, acted as the seller.

The lending for this transaction was facilitated by Knighthead Funding. Mortgage brokers Jeffrey Donnelly and Dmitry Levkov from Colliers International also played a role in the deal.

Note: No additional information was provided regarding the specific use of the development site or any other involved parties.