NY investor takes Midtown Miami units in bulk buy

Nov.November 21, 2012 04:01 PM

New York-based investor Sam Tawfik has purchased 27 units in Miami’s Midtown Miami development, according to Douglas Elliman. The purchase is in two phases: the first, which closed last week, included 12 units totaling $4.87 million. The remaining 15 will close on Nov. 28 for a price of $11.74 million.

All of the units are located in the Midtown 4 condominium tower.

“Midtown is another segment of New York City in the making,” Tawfik told The Real Deal. “The art district, the makeup of the area, reminds me of SoHo 15 years ago — we’re liking it very much.”

Midtown 4 had already sold more than 100 units in less than two months. Bucking the general trend in Miami of foreign and specifically Latin American buyers, more than 60 percent of the property’s sales have come from Floridians.

Tawfik said he was “actively looking” for more properties in the area.

Chad Carroll of Douglas Elliman represented Tawfik.

Related Articles

(Credit: iStock)

South Florida Q3 resi sales a mixed bag, with inventory falling: Elliman

Alex Rodriguez (Credit: Getty Images and iStock)

Work out like A-Rod? Athlete inks Midtown Miami lease for UFC Gym

3055 North Miami Avenue and Alex Vadia (Credit: Midtown Opportunities, TAMZ)

Controversial Walmart site in Midtown Miami sells for $26M

Jay Parker and Howard Elfman and Riva condos

Fort Lauderdale broker accuses Douglas Elliman’s Jay Parker of reneging on commission agreement: lawsuit

Midtown 29 and Michael S. Morgan CEO of Morgan Group

Midtown 29 developers close $80M refinance

From left: Stephan Burke, Carol Cassis, and Diana Carulla, and Amy Ballon

Movers & Shakers: Cassis Burke team joins Elliman, 2000 Ocean names sales director & more

David Siddons

David Siddons leaves EWM for Douglas Elliman

(Credit: Douglas Elliman)

Fine print no more: New Florida advertising rules kick in for agent teams