Estate Cos. Sells Overtown Rental for 1M
Avanti Residential dropped $181 million for a newly built rental property in Miami's Overtown neighborhood, the Denver-based investor announced. T...
Avanti Residential dropped $181 million for a newly built rental property in Miami's Overtown neighborhood, the Denver-based investor announced. The 19-story luxury building, Soleste Grand Central, features 360 units, a pool, a fitness center and coworking spaces. The sale equates to $502,700 per apartment. The seller, The Estate Companies, completed the property late last year, which is now 98 percent occupied, according to a representative for Estate. Monthly rents range between $2,139 and $3,960, per Apartment.