Riverview apartments in Little Havana sell for $14M

11-story tower sold for $215,870 per unit

Jan.January 22, 2016 10:30 AM

A Brooklyn-based investor has picked up an apartment building in Miami’s East Little Havana neighborhood for $13.6 million.

Miami-Dade County records show Veneto Group LLC sold the 63-unit building to three entities managed by Samuel Matalon and Alfred Sayegh, both of Brooklyn. Veneto Group is tied to Brickell-based Amalfi Investments. Alejandro Villamizar manages both LLCs, according to corporate records.

Veneto acquired the 11-story tower at 120 Southwest Eighth Avenue out of foreclosure in 2010, the same year it was completed. Riverview in Little Havana sits on a 20,865-square-foot lot and spans 112,528 square feet. Property records show the building sold for about $120 per square foot, or $215,870 per apartment.

The buyers, Bedford Realty Group, ASJM Realty Group and Burke Leighton Holdings, financed the deal with a $6.1 million mortgage from TD Bank.

The building is near the Miami River and Brickell neighborhoods, both hotbeds of new development this cycle, including the recent sales launch of One River Point along the river and Swire Properties’ Brickell City Centre, which will begin opening this year.

Related Articles

Arthur Porosoff, Stefano Garofoli, Costantino Cicchelli and Frank Rodriguez Melo with the Omni property

Investment group buys multifamily buildings in Little Havana, Omni

Rendering of Bonsai I with Ivanna Jimenez, Fernando Murzi and Jesus Luongo

Developer breaks ground on mixed-income rentals in Little Havana

First - Little Havana rendering

Little Havana apartments score $34M construction loan

Little Havana assemblage and Carlos Fausto Miranda

Presidente Supermarkets owner lists Little Havana assemblage for $22M

900 Southwest Seventh Street and a Calle Ocho rooster (Credit: Google Maps, Phillip Pessar | Flickr)

Apartment building in Little Havana flips for $6M

LeBron James with a rendering of Unknwn Wynwood (Credit: Getty Images)

Renderings revealed: River Parc master plan, Unknwn’s Wynwood store

Daily Digest Miami

Soffer in talks to buy Diplomat resort in Hollywood, 1-800 PetMeds founder sells Miami Beach house: Daily digest

Clockwise from left: 401 Southwest 17th Avenue, Alfonso Jaramillo, and Andros Sarduy 

Beraja family picks up Little Havana apartments