Avanti Residential Acquires Multifamily Property In St. Petersburg From Milhaus Development For $92M

The multifamily property located at 1661 Central Ave in St. Petersburg has been sold in a closed transaction. The property, consisting of 246 units, was purchased by Avanti Residential from the seller Milhaus Development. The transaction was facilitated by brokers Patrick Dufour and Andrew Visnick from Newmark. The sale price for the property was $92,000,000, resulting in a price per unit of $373,984.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $92,000,000
• Address: 1661 Central Ave, St. Petersburg
• Market: St. Petersburg
• Buyer: Avanti Residential
• Seller: Milhaus Development
• Brokers: Patrick Dufour & Andrew Visnick - Newmark
• Units: 246
• Price Per Unit: $373,984

Additionally, the mortgage for the transaction was arranged by Charlie Williams from Newmark.