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1444 Northwest 14th Avenue

Updated Aug 7, 2025

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

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

1444 Northwest 14th Avenue

$73,530,000

$147/SF

Building Size

498,269 SF

Asset Type

MultiFamily

Closing

Aug 4, 2025

About this deal

AI

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.

On the Map

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$73,530,000

$147/SF

MultiFamily

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Players

David Luski

DRA Advisors

Buyer

$4.6B

vol

38 deals

Buyer
DRA Advisors
DRA AdvisorsBuyer
William MacDonald

William MacDonald

Mill Creek Residential Trust

Seller

$340M

vol

4 deals

Seller
Rockwood Capital
Rockwood Capital Seller
JLL
JLLLender
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Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $147 per square foot on a published $73.5M for 498,269 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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