CSL Partners And Presidium Acquire Multifamily Property From Coral Rock Development Group For $95M

The transaction involved a multifamily property located at 3051 West 16th Avenue in Hialeah, which sold for $95,000,000. The asset comprises 260 units, with a price per unit of $365,384. The total square footage of the property is 344,465, equating to a price per square foot of $275.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $95,000,000
• Units: 260
• Price per Unit: $365,384
• Square Footage: 344,465
• Price per Square Foot: $275
• Buyer: CSL Partners & Presidium
• Seller: Coral Rock Development Group
• Brokers: Andres Grossmann - RelatedISG International Realty; Alex Isaia - Compass
• Date of Transaction: 01/31/2025

Andres Grossmann and Alex Isaia played pivotal roles as brokers in this transaction. They highlighted the importance of local tax exemptions in conveying the property's value, which contributed to the successful finalization of the deal.