Jorge Acevedo Purchases Multifamily Asset From Cristobal Gil For $6.1 Million In Hialeah

The property involved in this transaction is a multifamily asset located at 1270 West 29th Street in Hialeah, Florida. The sale price for the property was $6,100,000. It consists of 41 units and has a total square footage of 26,860, which reflects a price per unit of $148,780 and a price per square foot of $227.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,100,000
• Buyer: Jorge Acevedo
• Seller: Cristobal Gil
• Broker: Deme Mekras - MSP Group
• Total Units: 41
• Total Square Footage: 26,860
• Price per Unit: $148,780
• Price per Square Foot: $227

MSP Group CEO, Deme Mekras, represented both the buyer, Jorge Acevedo, and the seller, Cristobal Gil, in this transaction. The sale of this property was one of three included in a larger portfolio deal valued at $21,000,000, which required simultaneous closing for all properties involved.