Coral Gables apartment building sells for $11M

The building, which is still under construction, sold for $593 psf

Miami /
Jun.June 15, 2020 11:30 AM
1091 Galiano Street, Dolores Urdapilleta of Urdapilleta Real Estate, and Landy Toledo of Marcus & Millichap’s Miami office (Credit: Google Maps)

1091 Galiano Street, Dolores Urdapilleta of Urdapilleta Real Estate, and Landy Toledo of Marcus & Millichap’s Miami office (Credit: Google Maps)

A Coral Gables apartment building that is still under construction sold for $11.1 million.

Adar Galiano 1091 LLC, tied to Jonatan Sredni of Aventura, bought the property at 1091 Galiano Street for $11.1 million, according to a press release. 1091 Galiano Investments LLC, led by Daniela Carozzi, sold it. The property totals 18,710 square feet, equating to a price of $593 per square foot.

The Carozzi family purchased the development site for $2.5 million in 2017, records show. At the time, the property was planned as a condo development and was later converted to apartments.

The buyer was represented by Landy Toledo of Marcus & Millichap. The seller was represented by Dolores Urdapilleta of Urdapilleta Real Estate of Key Biscayne.

The apartment development will consist of 24 two- and three-bedroom apartments with outdoor terraces, as well as three townhouses on the ground floor. The building’s amenities will include a gym, pool, courtyard and barbecue areas.

Tenants will be able to move into the building in 60 to 90 days, according to the release.

The buyer is also in the final approval process to build a 174-unit luxury rental project at the intersection of Salzedo Street and Madeira Avenue in Coral Gables, according to the release.


Related Articles

arrow_forward_ios
Arnaud Karsenti and 5485 Hammock Drive, Coral Gables (Google Maps)
Arnaud Karsenti sells lakefront Coral Gables home for $9M
Arnaud Karsenti sells lakefront Coral Gables home for $9M
Ubiica's Alejandro Salazar (left) and Rodrigo Gana with an aerial of the project site (Eddy Davis)
Ubiica, Maven plan multifamily project in Coral Gables
Ubiica, Maven plan multifamily project in Coral Gables
4 Tahiti Beach Island Road, Coral Gables (The Carroll Group with Compass)
Former investment banker spends record $29M for Tahiti Beach estate
Former investment banker spends record $29M for Tahiti Beach estate
Don and Katrina Peebles with their recently purchased Bath Club unit. (Getty, ONE Sotheby’s International Realty)
Don Peebles buys unit at the Bath Club, finds buyer for Coral Gables estate
Don Peebles buys unit at the Bath Club, finds buyer for Coral Gables estate
From left: Coral Gables police headquarters at 2801 Salzedo Street, Codina Partners chairman Armando Codina and a view of the new Gables PD building at 2151 Salzedo Street (Google Maps, Codina)
Codina Partners’ plan for Coral Gables rental tower advances with three-way property swap
Codina Partners’ plan for Coral Gables rental tower advances with three-way property swap
Jeff Conry and 6312 Riviera Drive, Coral Gables (Google Maps)
Charter airline exec lands big profit on mansion flip
Charter airline exec lands big profit on mansion flip
Matthias Krull (Linkedin, iStock, US District Court - Sourthern District of Florida/Illustration by Alexis Manrodt for The Real Deal)
Swiss banker’s sentence slashed in alleged $1B Venezuelan money laundering scheme
Swiss banker’s sentence slashed in alleged $1B Venezuelan money laundering scheme
JRJ Group Founding Partner Roger Nagioff with his new property. (JRJ Group, Loweth Luxury Properties)
Private equity titan buys lakefront Coral Gables home for $6M
Private equity titan buys lakefront Coral Gables home for $6M
arrow_forward_ios

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

Loading...