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29 Wyn Apartment Project Sells For $544K Per Unit

29Wyn_Photo Courtesy of 29Wyn dot com 1170x435

Berkshire Residential Investments bought the recently completed 29 Wyn apartment complex in Miami’s Wynwood neighborhood for $135 million.

The Pérez family’s Related Group and Bob Zangrillo’s Dragon Global Management sold the pair of buildings with 248 units, combined, at 2918 and 2828 Northwest First Avenue to Boston-based Berkshire Residential, according to records and real estate database Vizzda.

The deal breaks down to $544,355 per apartment.

Completed this year, 29 Wyn consists of a 12-story building and an eight-story building separated by Northwest First Avenue. It includes 28,400 square feet of ground-floor commercial space. The complex offers studios with monthly rents starting at $2,420; one-bedroom apartments starting at $2,700; two-bedroom apartments starting at $3,494; and three-bedroom apartments for $6,282, according to 29 Wyn’s website.

Related bought the roughly 1.3-acre development site in 2016 for $12 million, records show.


Source:  The Real Deal

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