Charlie Porchetto & Diego Colmenero Of Urbanica Management Acquire Multifamily Complex In North Bay Village For $21M

A 41-unit waterfront apartment complex located at 7915 East Drive in North Bay Village, FL, was sold for $21 million. The total square footage of the asset is 48,372, resulting in a price per square foot of $434. The property was acquired by an affiliate of Urbanica Management.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $21,000,000
• Square Footage: 48,372
• Price Per Square Foot: $434
• Units: 41
• Price Per Unit: $512,195
• Buyer: Charlie Porchetto & Diego Colmenero - Urbanica Management
• Seller: Danilo Damolin - C & D Bay Village LLC
• Date of Transaction: 07/15/2026

This transaction marks the latest sale of the property, which last traded for $3.6 million in 2008. The acquisition expands Urbanica's portfolio in South Florida as development activities increase in North Bay Village, where older waterfront properties are being repositioned.