Mo Vaughn’s firm sells Miami River affordable housing building

Former Boston Red Sox slugger's company sold the 61-unit building for $6.8M

TRD MIAMI /
Mar.March 22, 2019 04:30 PM

Mo Vaughn and the Temple Court Apartments at 431 Northwest 3 Street (Credit: Getty Images and Reliant Realty Services)

A company led by former Major League Baseball All-Star Mo Vaughn sold an affordable housing building in the Miami River District for $6.8 million.

An affiliate of Vaughn’s Omni New York sold the 61-unit Temple Court Apartments at 431 Northwest Third Street for $111,475 per unit. The buyer is an affiliate of the Atlantic Housing Foundation, a Dallas-based affordable housing company.

The development totals nearly 36,000 square feet and sits on a half-acre lot. The building, which dates back to 1920, was last purchased for $2.2 million in 2004, records show.

Omni New York was founded in 2004 by Vaughn and Eugene Schneur. It has acquired or rehabilitated more than 7,800 units of affordable housing in New York state, according to its website. Vaughn started the company after he retired from baseball.

Vaughn, whose nickname was “The Hit Dog,” played first baseman for the Boston Red Sox, the Anaheim Angels and the New York Mets. He won the American League’s Most Valuable Player award in 1995.

South Florida suffers from a lack of affordable housing and consistently ranks as one of the most expensive places to live in the United States. Housing and Urban Development Secretary Ben Carson recently told The Real Deal that the agency will give developers preference for building affordable housing in designated Opportunity Zones.


Related Articles

arrow_forward_ios
Kasperi Kapanen and 2603 Embassy Drive (Credit: Jeff Zelevansky/Getty Images)

Pittsburgh Penguins’ Kasperi Kapanen scores West Palm Beach home

Pittsburgh Penguins’ Kasperi Kapanen scores West Palm Beach home
Manny Machado & 9261 School House Road (Credit: Harry How/Getty Images)

Baseball player Manny Machado buys Coral Gables spec mansion for $7M

Baseball player Manny Machado buys Coral Gables spec mansion for $7M
12251 Tillinghast Circle and Elin Nordegren (Credit: Google Maps and Gustavo Caballero/Getty Images)

Tiger Woods’ ex-wife buys Palm Beach Gardens home

Tiger Woods’ ex-wife buys Palm Beach Gardens home
Hannah and Derek Jeter, Tom Brady and Gisele Bundchen (Credit: Leon Bennett/Getty Images, Jon Kopaloff/FilmMagic via Getty Images)

Derek Jeter’s Tampa mansion that Tom Brady is renting lists for $29M

Derek Jeter’s Tampa mansion that Tom Brady is renting lists for $29M
River Landing, Andy Hellinger and Coralee Penabad

Years in the making, $425M mixed-use Miami River development opens

Years in the making, $425M mixed-use Miami River development opens
Elin Nordegren, Russell Weiner, and 12520 Seminole Beach Road (Credit: Ezra Shaw/Getty Images, Michael Bezjian/WireImage,a nd Google Maps)

Tiger Woods’ ex-wife sells North Palm Beach mansion for $29M

Tiger Woods’ ex-wife sells North Palm Beach mansion for $29M
Vladislav Doronin and Naomi Campbell (Credit: Eamonn McCormack/Getty Images)

Bad breakup? Developer Vlad Doronin sues ex Naomi Campbell

Bad breakup? Developer Vlad Doronin sues ex Naomi Campbell
Terrazas Miami (Google Maps, iStock)

Miami River condo association alleges $10M in defects: lawsuit

Miami River condo association alleges $10M in defects: lawsuit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...