Private investor picks up Hialeah apartment building for $10M

Buyer owns multiple multifamily properties in Miami-Dade County and New York City

TRD MIAMI /
Feb.February 27, 2018 03:30 PM

6680 West 2nd Court (Credit: Google)

UPDATED Feb. 28, 11:30 a.m.: Private investor and property owner John Sismanoglou is busy yet again scooping up multifamily complexes in Miami-Dade County.

Property records show Amelia Towers Residences LLC, led by Sismanoglou, paid $10 million for a 67-unit apartment complex at 6680 West Second Court in Hialeah. The private investor owns a number of properties throughout Miami-Dade and New York City.

The four-story rental building totals 85,000 square feet – meaning the trade breaks down to about $118 per square foot, or roughly $150,000 per unit. Marcus & Millichap’s Arthur Porosoff brokered the deal.

The seller, Amelia Towers LLC, is led by Jorge Ariel Lopez, who paid $3.95 million for the property in 2012, records show. It was built on a 1.3-acre lot in 1972.

Just this month, a nearby 90-unit apartment complex built the same year traded hands for $13.5 million.

In 2016 a company managed by Sismanoglou paid $36.2 million for a 347-unit multifamily and condo community in Miami Gardens. The trade was later embroiled in a lawsuit in which La Rosa Realty and realtor associate Nabeel Abunassar sued Sismanoglou for allegedly not paying a 4 percent commission on the property.

In 2015 a company mangaed by Sismanoglou and Anthony Roussos paid $17.5 million for a low-rise apartment complex just south of Miami International Airport.


Related Articles

arrow_forward_ios
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

IMC Equity’s Yoram Izhak and 1490 West 49th Place (Credit: Google Maps)

IMC Equity snags Hialeah office building from Cofe Properties

1000 Southeast 8th Street, Andrew Gurewitsch and Harry Weisman and Barry Katz

Duty Free Americas owner will have to pay taxes on this sale

Daily Digest Miami

Lawsuit accuses Douglas Elliman’s Jay Parker of backing out of real estate commission agreement, Elysee Investments picks up Fort Lauderdale retail center: Daily digest

Camilo Niño and Pasteur Medical Center

Linkpoint Properties nabs Pasteur Medical Center in Hialeah for $5M

RREEF Property Trust’s CEO W. Todd Henderson and Centergate at Gratigny

RREEF America buys Hialeah industrial property for $178M

From left: Alejandro Arias, Keren Marti, Avra Jain, Carolina Herrera, Luis Gonzalez, and Melissa Rose (Credit: Brett Hufziger Photography, Google Maps)

New frontier? Developers look to Hialeah

BBX Capital’s Alan Levan and Altis at Bonterra

BBX Capital, Altman sell Altis at Bonterra in Hialeah for $90M

arrow_forward_ios
Loading...