The Real Deal Miami

Auction set for Miami affordable housing portfolio

Bids due Jan. 31 for 431 Little Havana units
January 09, 2014 01:30PM

138 Northwest 15th Street in Miami's Little Havana neighborhood

138 Northwest 15th Street

A 22-building affordable housing portfolio in Miami’s Little Havana neighborhood is set to be sold during a private auction.

Aaron and Daniel Stauber, the owners of 431 affordable units in the neighborhood, have hired Sperry Van Ness to run the auction, South Florida Business Journal reported. Potential buyers have until Jan. 31 to submit bids and put down a $100,000 refundable deposit. Finalists would be selected shortly after the deadline, with final offers expected in early March.

A $22.3 million Fannie Mae loan must be assumed as part of the transaction. The loan has a fixed 4.15 percent interest rate. [South Florida Business Journal]Eric Kalis