John Ramos Acquires Development Site In Coral Gables For $2.24M

A development site located at 553 SW 37th Ave in Coral Gables has been sold. The property was purchased by John Ramos from Juan Manolo. The deal was facilitated by Tomas Sulichin of RelatedISG International Realty.

Summary of Transaction Details:

• Property Type: Development Site
• Transaction Amount: $2,240,000
• Address: 553 SW 37th Ave, Coral Gables
• Market: Coral Gables

This transaction exemplifies the value of obtaining entitlements for a property. The site was initially acquired in 2019 for $840,000 and was recently sold in 2021 for $2,240,000. This represents a significant 266% increase in just two years.

It's worth noting that the property has a building square footage of 7,590, resulting in a price per square foot of $295. The total buildable square footage is estimated at 32,000, translating to a price per buildable square foot of $70.

With this successful deal, John Ramos has made a smart investment in a development site in Coral Gables. The involvement of Tomas Sulichin from RelatedISG International Realty showcases their expertise in facilitating profitable real estate transactions.