Search
 

Four Miami Apartment Buildings Sold

MIAMI-City King Apartments LLC, Miami King Apartments LLC, the King's Apartments LLC and Paradise Apartments Inc.--all controlled by investor S. Chelminsky--bought the buildings for a total of more than $9.1 million from Kalla Investments and Kegi Investments.

By Melissa Bogdany | Updated on March 12, 2003

MIAMI-Four related corporations have purchased the same number of apartment buildings with a combined 204 units here from related Panamanian corporations. The sellers in each deal were both Kalla Investments and Kegi Investments. The purchasing corporations are all controlled by investor S. Chelminsky.

The total purchase price was more than $9.1 million, with the average purchase price for the units being nearly $43,000. The sales all closed in the past month.

Three of the transactions were in Biscayne Gardens: -City King Apartments LLC bought the 51-unit building at 13055 N.E. 6th Ave. for $2.18 million, or an average of approximately $42,745 per unit; – Miami King Apartments LLC bought the 60-unit building at 15390 N.E. 6th Ave. for $2.64 million, or about $44,000 per unit; – The King’s Apartments LLC bought the 59-unit building at 400 N.E. 137th St. for $2.54 million, or about $43,051 per unit.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.