According to research from Condo Vultures, a Bal Harbour-based real estate consultancy, in the fourth bulk deal for Miami condos for sale in downtown over the past year, investor Jorge Mattos has closed on 21 units in the Marina Blue condo tower located at 888 Biscayne Boulevard, for $5.69 million. A second deal is scheduled to close in June.
The all cash-deal involving a former Marina Blue lender included 13 two-bedroom units, seven one-bedroom units and a penthouse for an average of $196 per square foot.
According to Condo Vultures, citing public records, the seller was Lendco Florida with Harvey L. Armstrong.
Jorge Mattos is a business partner of Carlos Mattos, who also last month closed on a bulk deal for 31 Miami condos for sale at 1060 Brickell. The price for the units was $6.1 million, or $203 per square foot.
A bulk deal refers to the purchase or sale of several property units at once for a typically cut rate price.
Contributed by MLR Realty
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