Juan Gómez & Javier Gómez Of EcoStone Group Acquire 63-Unit Ipanema Apartments For $17.6M In Little Havana

The Ipanema Apartments, located at 120 Southwest 8th Avenue in the Little Havana neighborhood of Miami, consists of 63 units spread over 118,256 square feet. The 11-story multifamily property was built in 2010 and features amenities including a pool. The sale price for this transaction was $17,600,000, resulting in a per unit price of $279,365 and a price per square foot of $149.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $17,600,000
• Buyer: Juan Gómez & Javier Gómez - EcoStone Group
• Seller: Samuel Matalon & Allen Franco - Bedford Realty Group LLC, Burke Leighton Holdings LLC & ASJM Realty Associates LLC
• Lender: Intercredit Bank
• Units: 63
• Square Footage: 118,256
• PPU: $279,365
• PPSF: $149

Eco Ipanema LLC is noted as the purchaser of the property, which was previously sold in 2015 for $13,600,000. The transaction involved notable entities in the real estate sector, evidencing significant investment activity in the Little Havana market.