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.
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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.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
