David Luski Of DRA Advisors Purchases 263-Unit Modera Skylar Apartments In Miami For $73.53M

The transaction involves the sale of the Modera Skylar apartments, a multifamily asset located at 1444 Northwest 14th Avenue in Miami's Health District. The property spans 1.75 acres, features 263 units, and comprises a total square footage of 498,269. The sale price reached $73,530,000, resulting in a price per unit of $279,582 and a price per square foot of $148.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $73,530,000
• Buyer: David Luski - DRA Advisors
• Seller: William MacDonald - Mill Creek Residential; Robert L. Gray, Tyson E. Skillings & Beau Baiocchi - Rockwood Capital
• Lender: JLL
• Units: 263
• Acres: 1.75
• SF: 498,269
• PPU: $279,582
• PPSF: $148

William MacDonald, representing Mill Creek Residential, along with Robert L. Gray, Tyson E. Skillings, and Beau Baiocchi from Rockwood Capital, executed the sale of this notable property, transferring ownership to a DRA Advisors-managed entity. JLL facilitated the transaction with a loan totaling $60.55 million.