South Florida Business Journal: New apartment complex in Little Havana sells for $441,000 a unit

July 15, 2022

The East River Living apartment complex in the Little Havana neighborhood of Miami sold for $15 million, or $441,176 a unit. The deal is another sign that Little Havana is no longer among the most affordable areas of Miami as developers introduce Class A rentals into the neighborhood. East River Living LLC, managed by Santiago Vanegas of…

Q2-22 National Report: Insurance

July 12, 2022

The insurance market for multifamily portfolios has transformed significantly in the past few years. This market shift was inevitable based upon losses and the prior soft market, but the resulting change has been more severe and continued longer than initial expectations. In order to better educate and prepare our clients for what to expect moving…

Franklin Street Arranges $15M Sale of Class A Mixed-Use Multifamily Property in Miami to Cochise Capital

The newly constructed East River Living property, which includes ground-floor retail, sold for $600 per square foot MIAMI (July 12, 2022) – Franklin Street has arranged the sale of East River Living, a 34-unit, 25,000-rentable-square-foot multifamily property in Miami for $15 million, equating to $441,176 per unit and $590 per square foot. Completed in 2022,…

Q2-22 National Report: Capital Advisory

July 11, 2022

Over the first half of this year, we have seen a dramatic shift in multifamily capital markets from what we had become accustomed to from 2019 – 2021. This shift can be explained by a variety of factors but our thesis, supported by the data in this report, is that the continual compression of cap…

Yield Pro: Franklin Street arranges $11.5 million sale of 57-unit multifamily property in North Miami

Franklin Street has arranged the sale of Northview Terrace, a 57-unit, 41,400-rentable-square-foot multifamily property in North Miami, Florida, for $11.5 million, or $201,754 per unit. Franklin Street’s South Florida Multifamily Investment Sales Team of Ryan Wold, Dan Dratch and Greg Matus arranged the transaction on behalf of both the buyer, MVP-57, LLC, and the seller, 1050 NW Havana LLP. Alec Laethem and Evan Seacat with…