Updated Aug 18, 2025
Empira Group Acquires 1.21 Acre Development Site In Coral Gables For $18 Million
921 East Ponce De Leon Boulevard
$18,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 10, 2025
About this deal
AI
A 1.21 acre development site has been acquired by Empira Group for $18,000,000. The site is situated at 912 to 921 East Ponce de Leon Boulevard in Coral Gables. Plans for the development include a multifamily tower that will feature 161 luxury residential units along with 248 parking spaces across 12 stories. The project is set to include various amenities such as a fitness center with a yoga studio, a pool deck, and an outdoor lounge.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $18,000,000
- Address: 921 East Ponce De Leon Boulevard
- Market: Coral Gables
- Buyer: Rafael Aregger, Branco Kuzmanovic, Michael Marrero - Empira Group
- Seller: Roberto Trapaga - Alliance Starlight
- Buyer’s Representative: Bobby Berrido - Fausto Commercial Realty Consultants
Bobby Berrido, CCIM, represented Empira Group in the transaction, facilitating the acquisition of the development site. The involvement of Alliance Starlight was through Roberto Trapaga, the seller in this deal.
On the Map
$18,000,000
Development Site
View full map
Players
Coral Gables Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Browse Coral Gables development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93