Jose Canero And Alexander Levin Acquire Multifamily Asset In Miami For $28.2 Million

The property asset involved in this transaction is a multifamily building located at 3245 Virginia Street in Miami. The sale price for the property was $28,200,000, with a total of 60 units. The building has a total square footage of 51,500, resulting in a price per unit of $470,000 and a price per square foot of $547.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $28,200,000
• Units: 60
• Square Footage: 51,500
• Price Per Unit: $470,000
• Price Per Square Foot: $547
• Buyer: Jose Canero - Canero Group; Alexander Levin & Nick Levin - 8K Capital
• Brokers: Maria Patty Bolanos, Michael Axel Neree & Raquel Rivas - The Canero Group
• Financing Brokers: Marko Kazanjian, Max Herzog, Max Hulsh, & Andrew Cohen - Institutional Property Advisors (IPA) Capital Markets

The deal involved key individuals from multiple companies, with brokers Maria Patty Bolanos, Michael Axel Neree, and Raquel Rivas representing the Canero Group. The immediate focus post-transaction includes renovating and improving the common areas, leasing currently vacant units, and enhancing the property's overall value.