Steelblock buys Opa-locka apartment complex for $8M

Seller bought the building in 2017 for $5M

Miami /
Oct.October 26, 2020 12:30 PM
Steelblock CEO Ignacio Murman and 13300 Alexandria Drive in Opa-locka (Steelblock, Google Maps)

Steelblock CEO Ignacio Murman and 13300 Alexandria Drive in Opa-locka (Steelblock, Google Maps)

UPDATED, Oct. 27, 1:45 p.m.: A Miami-based real estate investment company bought a 72-unit low-income housing building in Opa-locka for $8.2 million.

A company tied to Ignacio Murman, CEO of Steelblock, bought the building at 13300 Alexandria Drive, according to a press release.

At $120,833 a unit, it is the highest price-per-unit sale in the history of Opa-locka, according to the release. The previous record was $110,000 a unit.

A company tied to Jorge “Ariel” Lopez of the Lopez Companies sold the building. The Lopez Companies previously bought the building in 2017 for $5 million, according to records. The building has 66,000 square feet and was built in 1972.

Available units include a 691-square-foot, two-bedroom, one-bath apartment renting for $1,250 per month; and a 1,025-square-foot, three-bedroom, one-bath apartment renting for $1,500, according to an online listing.

Tomas Sulichin, president of the commercial real estate division RelatedISG International Realty that launched in September, represented the buyer. He said the buyer plans to continue looking for multifamily investments in the area and has plans to improve the Opa-locka property inside and outside the building.

In January, Steelblock bought another Opa-locka building for the same price. The 118-unit complex at 14255 to 14460 Northwest 22nd Avenue sold for $70,000 per unit.

Other recent multifamily deals in South Florida include $13 million for the 66-unit Hilton Estates buildings in Hialeah, and $67.5 million for a 218-unit development in Fort Lauderdale’s Flagler Village.


Related Articles

arrow_forward_ios
(Facebook via Golfview Flats)
Snow Real Estate buys Sunrise apartments for $15M
Snow Real Estate buys Sunrise apartments for $15M
Longpoint Managing Partner Dwight Angelini and the properties
Longpoint Realty adds three Opa-locka warehouses to South Florida portfolio
Longpoint Realty adds three Opa-locka warehouses to South Florida portfolio
12350 Biscayne Boulevard and buyer Yoram Izhak (Google Maps)
Johnson & Wales sells more North Miami properties for $21M
Johnson & Wales sells more North Miami properties for $21M
The Buena Vista Gardens in Little Haiti (Apartments.com)
Bowery Properties buys Little Haiti apartment portfolio for $12M
Bowery Properties buys Little Haiti apartment portfolio for $12M
Walton Street Capital Managing Partner Eric Mogentale with the complex (Alta Developers, Walton Street Capital)
Walton Street Capital buys Boynton Beach apartments for $93M
Walton Street Capital buys Boynton Beach apartments for $93M
Avery Pompano Beach apartments with Yaakov Frankforter of Frankforter Group (LinkedIn via Frankforter, Avery Pompano Beach)
Frankforter Group buys Pompano Beach apartments for $43M
Frankforter Group buys Pompano Beach apartments for $43M
The Johnson and Wales campus and PMG principals Kevin Maloney and Ryan Shear (PMG)
PMG pays nearly $60M for Johnson & Wales North Miami campus
PMG pays nearly $60M for Johnson & Wales North Miami campus
Louis Puig and 333 Jefferson Avenue in South-of-Fifth (Google Maps)
Former Club Space owner buys South Beach apartments for short-term rentals
Former Club Space owner buys South Beach apartments for short-term rentals
arrow_forward_ios

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

Loading...