Feje Group Acquires Multifamily Asset In Miami For $1.475M

The property involved in this transaction is a 6-unit multifamily building located at 7509 Northeast 3rd Avenue in Miami. The sale closed at a record price of $1,475,000, which translates to $245,833 per unit. The building spans a total of 7,350 square feet, resulting in a price per square foot of $201. The building has a total building square footage of 3,705 square feet, valued at $398 per square foot.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $1,475,000
• Units: 6
• Price per Unit: $245,833
• Total Square Footage: 7,350
• Price per Square Foot: $201
• Building Square Footage: 3,705
• Price per Building Square Foot: $398
• Market: Miami

Ron Mann and Carl Gorman from APEX Capital Realty represented both the buyer, Feje Group, and the seller, Victor Benatar, in this transaction. They brokered a deal that closed at $1,475,000, which is a near record price for a multifamily asset in the Little River area. It is worth noting that the property is located in a qualified Opportunity Zone, further highlighting the strength of the market and the resilience of the multifamily sector in Miami and the greater South Florida region.