Updated Sep 4, 2026
Ron Orgel Of Phoenix Realty Group Purchases Multifamily Complex From Martha Fernandez For $64.8M
18412 Homestead Avenue
$64,800,000
$152/SF
Building Size
426,436 SF
Asset Type
MultiFamily
Closing
Aug 28, 2026
About this deal
AI
The property involved in this transaction is a multifamily complex located at 18412 Homestead Avenue in Miami. The buyer, Ron Orgel from Phoenix Realty Group, acquired the asset from the seller, Martha Fernandez of Garco, for a total sale price of $64.8 million. The complex encompasses 426,436 square feet, translating to a price per square foot of $152.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $64,800,000
- Buyer: Ron Orgel - Phoenix Realty Group
- Seller: Martha Fernandez - Garco
- Square Footage: 426,436
- Price Per Square Foot: $152
Martha Fernandez's Garco successfully sold the multifamily complex to Ron Orgel, signifying robust institutional demand for large-scale residential communities in South Florida's expanding suburban corridors.
Players
Miami MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93