Lakefront Miami-Dade Apartments Trade for $23M in Multifamily Boom

Randy North, left, and Sofia Sagastegui,right, of Capital Commercial Real Estate Group Inc. Courtesy photos

With a booming Miami-Dade County multifamily market, it’s been rare to see large transactions because owners prefer to keep the rising income stream.

Yet Capital Commercial Real Estate Group Inc. broker Randy North and associate and agent Sofia Sagastegui, both based in Davie, closed the $23.3 million sale of the Silver Blue Lake apartment complex west of Interstate 95 at 1401 NW 103rd St.

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Newcastle Invest LLC, an affiliate of Coral Springs-based KVR Properties, bought the three-story, 239-unit complex on 7.6 acres from 103 Silver Blue Lake Apartments LLC, according to North and Sagastegui. The transaction closed April 12 at $97,490 per unit.