Luxury Apartment in Miami Trades for $97M
The 338-unit Soleste Twenty2 stabilized during the pandemic and is now 95% leased.
Soleste Twenty2, a newly-developed luxury apartment building in West Miami has traded for $97 million. The developer, the Estate Cos., sold the property to an LLC last week.
The eight-story, 338-unit property is located at 2201 Ludlam Rd.
The property, which delivered in February 2020 came to market as the pandemic was just beginning but was able to stabilize in the last year. It is currently 95% leased.
It features studios, one, two and three-bedroom units with rents starting in the $1,500’s for studios with three-bedrooms starting in the $2,600’s.
The apartment is also highly amenitized with a number of health and wellness offerings and pet-friendly features, including a tropical pool deck with spa and private cabanas, relaxation lounge with saunas, athletic center, yoga and spin studios and a rooftop lounge.
The Estate Companies has 13 projects in various stages of development and 4,305 rental units in the pipeline throughout Miami-Dade, Broward and Palm Beach counties.
Written by: Erika Morphy from GlobeSt.com