Michael Portuondo Acquires Little Haiti & Little River Multifamily For $8.65M

A multifamily property located at 5500 North Miami Avenue and 31 Northwest 77 Street in Little Haiti and Little River has been sold for a total price of $8,650,000. The property consists of 48 units with a price per unit of $180,208. The total square footage of the property is 23,162, resulting in a price per square foot of $373.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,650,000
• Address: 5500 North Miami Avenue & 31 Northwest 77 Street
• Market: Little Haiti & Little River

The buyer of this property is Michael Portuondo, while the seller is Thomas Neary. Kris Rodriguez from Fordome Investment Group represented the buyer as their representative in the deal. On the other hand, Gridline Properties had two representatives, Ernie Perez, and Alfredo Riascos, representing the seller.