19 Quantum on the Bay units go for $5.2M in bulk buy

Nineteen units in Downtown Miami’s Quantum on the Bay condominium have been scooped up for $5.2 million in a bulk buy, leaving only 18 units remaining the 698-unit complex, the South Florida Business Journal reported. Developer Terra-Adi International Bayshore, the owner of the building, took $245.82 per square foot for 16 units in the north tower, where prices had averaged $318.35 per square foot prior to the sale. The three remaining units were in the south tower, where prices had averaged $303.03 per square foot; the three units went for $225 per square foot. The buyers, Miami-based Real Estate Investment Consulting Group, managed by Paul Jarquin, and Miami Beach-based MIG US, managed by Mathieu Massa, formed Rei Quantum for the purchase. [SFBJ]