Freshwater under contract to buy Little Havana condos and apartments

Two deals will give Freshwater Group control of 67 units in Little Havana

TRD MIAMI /
Dec.December 11, 2018 03:00 PM

Oleander House and Freshwater Group’s Freddy Sayegh

Freshwater Group is under contract to pay $12.1 million for the Oleander Park apartment building and units at the Oleander House condominium in Little Havana, Freshwater partner Joseph Sayegh confirmed.

The Brooklyn-based real estate investment firm would pay roughly $7.6 million for condo units at the Oleander House at 406 Northwest 22nd Avenue, giving Freshwater control of 42 out of the 52 units. The building features one- and two-bedroom condos that average 860 square feet.

Records show it was built in 2007 by a company tied to developer Marcelo Herskovitz. According to Sayegh, the units were previously rented out.

The 25-unit Oleander Park apartment building at 1970 Northwest Seventh Street is under contract to trade for $4.5 million. The six-story building was built in 2009 by La Vereditta VII LLC, which is also led by Herskovitz.

Aztec Group’s Peter Mekras is representing both sides of the deal. He declined to comment.

Freshwater is led by Alfred Sayegh and Solomon Gadeh as well as Joseph Sayegh. In the past year, the company has acquired 500 multifamily units in Miami-Dade County, Joseph Sayegh said, including properties in North Miami Beach and Hialeah.

Over the summer, Freshwater bought a portfolio of adjacent multifamily buildings in Miami Beach for $5.6 million.


Related Articles

arrow_forward_ios
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

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

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

South Florida firm buys Sunrise apartment complex for $20.2M

arrow_forward_ios