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Three Coconut Grove Home Lots Sell For Big Profit

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A trio of home lots in Coconut Grove, with the largest parcel along Biscayne Bay, sold for $50 million.

The deal covered 4.25 acres of land sold by 3500 Saint Gaudens LLC, managed by Irene Ulivi in Miami. The lots of 22,020 square feet, 1.11 acres and 2.64 acres at 3488, 3492 and 3496 St. Gaudens Road, respectively, were purchased by CH2CG LLC, managed by New York attorney Richard M. Hoffman. Maxim Credit Group granted a $20 million mortgage to the buyer.

Oren Alexander of Douglas Elliman brokered the deal.

 

Source: SFBJ

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