Marcus & Millichap’s Landy Toledo Closes $11 Million Development Deal In Coral Gables

Jun 16, 2020 No Comments by

Marcus & Millichap recently announced the sale of 1091 Galiano Street , a very rare new 27-unit apartment property located in Coral Gables, according to Scott Lunine, Regional Manager of the firm’s Miami office.

The asset sold for $11,100,000.

The “boutique” high end rental building is one of the only newly built projects within the North Coral Gables submarket.

The Buyer, Adar Galiano 1091 LLC, a Florida Limited Liability Company led by Jonatan Sredni and Scott P. Alcus, was secured and represented by Landy Toledo, a seasoned investment specialist in Marcus & Millichap’s Miami office. The Seller was a limited liability company who originally purchased the vacant site and built the project was represented by Dolores Urdapilleta of Urdapilleta Real Estate LLC of Key Biscayne.

1091 Galliano Street consists of 24 light and spacious 2 and 3-bedroom apartments with large outdoor terraces. The property also includes 3 townhouses on the ground floor. The high end multifamily rental project will be ready for tenant occupancy within the next 60-90 days.

The buyer is also in the final approval process to build a 174 luxury rental unit project located at the intersection of Salzedo Street and Madeira Avenue in Coral Gables. The 63,000-square-foot site is one of several large development assemblages in the North Coral Gables submarket which have been composed and are presently represented by Landy Toledo.




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Industry News, Miami-Dade County Multifamily, Multifamily, NA
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