Arash Gohari Of 27 Capital Sells Bay Harbor Islands Multifamily Portfolio For $27.05M

The multifamily asset involves a portfolio consisting of five buildings located at 10190 East Bay Harbor Drive, 10150 East Bay Harbor Drive, 1075 101st Street, 9200 East Bay Harbor Drive, and 9270 East Bay Harbor Drive in the Bay Harbor Islands market. The overall sale price was $27,050,000 for a combined total of 64,400 square feet, resulting in a price per square foot of $420.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $27,050,000
• Seller: Arash Gohari - 27 Capital; Adam Sasouness & Josh Sasouness
• Acquisition Price: $21,500,000
• Return on Investment: 35% (21% IRR)
• Rents Increased: 35% during investment period
• Transaction Date: 03/21/2025

The successful sale was facilitated by 27 Capital, led by Arash Gohari, in partnership with an affiliate of Dwight Capital and the 27 South Florida Multifamily Opportunity Fund I. The transaction was executed through a series of off-market sales and ranked among the largest by acreage in the Bay Harbor Islands in recent years. 27 Capital remains an active buyer with two further transactions closed or under contract following this sale.