Little Havana apartments sell for $5.6M

The five-building portfolio includes 57 apartments

TRD MIAMI /
Nov.November 20, 2018 06:22 PM

Carlos Villanueva, Little Havana

A five-building rental portfolio in Little Havana just sold for $5.6 million to New York-based Gateway Realty.

Gateway Realty bought the 57 rental apartments at 2127, 2128, 2136 and 2248 Southwest Fifth Street and 2135 Southwest Sixth Street for $98,245 per unit, according to a release.

The Keyes Company’s Carlos Villanueva represented the seller, the JoAnn Cappelletti Trust, in the sale. Mendel Fellig of Compass represented Gateway Realty.

Cappelletti and her late husband, former Miami Beach police officer Mario Cappelletti, had assembled the rental properties during the 1960s and ’70s. Most of the interest in the properties came from buyers from New York, according to a release.

Gateway Realty obtained seller financing as part of the transaction. Terms were not disclosed.

Little Havana is in the midst of a building boom. New permit filings in the first half of 2018 jumped to 155, from 48 filings in the first half of 2017, according to an analysis of new permit applications filed with the Miami Department of Buildings.

One company, Coral-Gables Metronomic has 12 construction projects planned for Little Havana, including a series of two-story residential developments called La Elaina.


Related Articles

arrow_forward_ios
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

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein (Credit: Daily Beast | Getty)

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

South Florida firm buys Sunrise apartment complex for $20.2M

South Florida firm buys Sunrise apartment complex for $20.2M

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

arrow_forward_ios