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1030 - 1050 6th Street
SOLD

Russell Galbut Acquires Development Site On 6th St In Miami Beach For $5.7M

1030 - 1050 6th Street

MultiFamily
2,706 SF
clock iconSold 1 year ago
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Summary

Sale
FLORIDA
MultiFamily
2,706 sqft

Russell Galbut has purchased a development site in Miami Beach for a total of $5,700,000. The property, located at 1030-1050 6th St, is a 15,000 square feet development site. The buyer was represented by Gema Ruiz and Francisco Rodriguez Melo of Cedano Realty Advisors, a Miami-based boutique real estate firm. The seller in this transaction was Jose Fernandez.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $5,700,000
  • Address: 1030-1050 6th St, Miami Beach
  • Market: Miami Beach

Gema Ruiz, P.A., Senior VP of Multifamily Sales with Cedano Realty Advisors, represented both the buyer, Russell Galbut, and the seller, Jose Fernandez, in this deal. Russell Galbut will be developing a hotel on the purchased land. Gema Ruiz is part of Cedano Realty Advisors, a Miami-based boutique real estate firm led by Frank R Melo, CCIM. The firm specializes in multifamily and retail acquisitions and management.

Players

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    2

  • Agents

    1

  • Agencies

    1

Gema Ruiz's profile picture
Gema Ruiz
Cedano Realty Advisors-image
Associate
$26.2M Sold
Cedano Realty Advisors's profile picture
Cedano Realty Advisors
Cedano Realty Advisors

Details

Deal Summary
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SOLD
IMAGE: Russell Galbut, Gema Ruiz & Francisco Rodriguez Melo DATE: 06/23/2022 ADDRESS: 1030 - 1050 6th St MARKET: Miami Beach ASSET TYPE: Development Site BUYER: Russell Galbut SELLER: Jose Fernandez BROKERS: Gema Ruiz & Francisco Rodriguez Melo (@CybMelo) - Cedano Realty Advisors SALE PRICE: $5,700,000 BSF: 15,000 ~ PPBSF: $380 NOTE FROM BROKERS: Russell Galbut buys Miami Beach Multifamily to develop hotel Gema Ruiz, P.A., Senior VP of Multifamily Sales with Cedano Realty Advisors, a Miami-based boutique real estate firm lead by Frank R Melo, CCIM that specializes in multifamily and retail acquisitions and management, represented the buyer & seller, Russell Galbut under 1030 Property Investments, LLC in the purchase of 12 two-bedroom rental community located at 1030-1050 6th St in Miami Beach, Florida.

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Address1030 - 1050 6th Street

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