City Of Coral Gables Acquires Development Site From Eugenia Schmid Trust For $3.1M

The development site located at 1031 Valencia Avenue in Coral Gables has been sold for $3,100,000. The property comprises a total of 18,750 square feet, which translates to a price per square foot of $165.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,100,000
• Address: 1031 Valencia Avenue
• Market: Coral Gables
• Seller: Eugenia Schmid Trust
• Buyers: City of Coral Gables
• Seller's Representative: Charlie Rua & Xavier Durana - Rua Realty

In this transaction, the City of Coral Gables acts as the buyer, working through the seller's representatives, Charlie Rua and Xavier Durana from Rua Realty. Their role involves facilitating the sale between the Eugenia Schmid Trust and the municipal government.