Ram Realty, Pinnacle pay $15M for multifamily dev site near Aventura

285-unit apartment project will include 36 workforce housing units

Miami /
Jan.January 13, 2022 02:38 PM
Ram Realty, Pinnacle pay $15M for multifamily dev site near Aventura

19640 West Dixie Highway with Co-buyer and co-developer Ram Realty Advisors’s CEO Casey Cummings and Co-buyer and co-developer Pinnacle partner David Deutch (Google Maps, LinkedIn, Ram Realty)

Ram Realty Advisors and Pinnacle paid $15.4 million for a multifamily development site steps from the future Brightline station near Aventura Mall, marking a rush to build near major transit stops.

The duo scooped up 2.2 acres of land at 19640 West Dixie Highway in the Ojus neighborhood in unincorporated Miami-Dade County, with plans for a 285-unit apartment building that will include 36 workforce housing units, according to a joint Ram and Pinnacle news release.

CK Prive Group 196 LLC, managed by Bruno Bloch, sold the land, records show.

The Roger Fry Architects-designed building will rise 15 stories on the east end fronting West Dixie Highway, taper down to eight stories in the center and drop to four floors on the west side, the release says.

The apartments will include studios and one- to three-bedroom units. Kitchens will include quartz countertops, tile backsplashes, built-in islands and stackable washers and dryers. The bathrooms will have bathtubs and walk-in showers with frameless glass doors, according to the release.

Building amenities will include a pool, business center, gym, clubroom and a courtyard garden.

Construction is expected to start in the fourth quarter of this year.

Brightline, the passenger train that connects the downtowns of Miami, Fort Lauderdale and West Palm Beach, is building a stop nearby, also in the Ojus neighborhood. Miami-Dade is funding part of the cost for the station, which is north of the project and includes a pedestrian bridge to Aventura Mall.

Louis Wolfson III and Mitchell Friedman (LinkedIn)

Palm Beach Gardens-based Ram Realty is led by Casey Cummings, according to its website. Miami-based Pinnacle’s partners are David Deutch, Louis Wolfson III and Mitchell Friedman, its website says.

Their project is one of a slew underway near Miami-Dade train stops, either proposed or under construction. Also near the Ojus stop, Chicago-based Fifield Companies plans the eight-story, 266-unit Avida Aventura apartment development.

In Wynwood, Fifield plans an eight-story, 210-unit apartment project with retail, steps from a station proposed between Northeast 26th and 27th streets. It is uncertain which rail line will operate there, with possibilities including the publicly owned Tri-Rail that now runs in western South Florida areas.





    Related Articles

    arrow_forward_ios
    David Barry, principal, Ironstate Development along with a rendering of the proposed eight-story building between Northeast 26th and 27th Streets in Wynwood (Ironstate, 5G Studio Collaborative)
    Developer proposes Urby-branded apartments on former Art by God site in Wynwood
    Developer proposes Urby-branded apartments on former Art by God site in Wynwood
    Innovation District (DB Lewis Architect-Thresholds Intl, iStock)
    Russian tycoon’s Motorsport firm proposes offices at Magic City Innovation District
    Russian tycoon’s Motorsport firm proposes offices at Magic City Innovation District
    Lennar's Eric Feder with 4042 Island Estates Drive (The Carroll Group, Lennar)
    Lennar’s Eric Feder sells waterfront Island Estates home in Aventura for record $12M
    Lennar’s Eric Feder sells waterfront Island Estates home in Aventura for record $12M
    The shopping center at 12495 Southwest 88th Street (Frontier Companies)
    Frontier pays $18M for Best Buy-anchored shopping center in Kendall
    Frontier pays $18M for Best Buy-anchored shopping center in Kendall
    Nuveen CEO Jose Minaya and 801 Brickell Avenue in Miami (Nuveen, Colliers)
    Lease roundup: Nuveen moving Southeast HQ to 801 Brickell
    Lease roundup: Nuveen moving Southeast HQ to 801 Brickell
    Michele and Kevin Segalla and Ilya Karpov with 320 Hibiscus Drive (LinkedIn, Craig Denis) Miami, Mansions
    Mobile gaming tycoon, investment manager wife pay $29M for Hibiscus Island spec mansion
    Mobile gaming tycoon, investment manager wife pay $29M for Hibiscus Island spec mansion
    the Church of God Evangelical at 12830 Northeast Sixth Avenue in North Miami with Daniel Jaramillo and Tomas Sinisterra of Strategic Properties based in Miami (Google Maps, LinkedIn)
    Praying for a profit? Developers plan multifamily project on North Miami church site, adjacent property
    Praying for a profit? Developers plan multifamily project on North Miami church site, adjacent property
    Michael Krymchantowski and a rendering of the Krymwood Hotel at 176 Northwest 28th Street (MKDA, Krymwood, iStock)
    Brazilian investor gets Miami board’s OK to build Wynwood hotel
    Brazilian investor gets Miami board’s OK to build Wynwood hotel
    arrow_forward_ios

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

    Loading...