On March 5th, the Fama Group purchased 19 units in the new 30-unit Mi Primera Ilusion Villas for $1.25 million, or $102 a square foot.
Bal Harbour-based real estate research firm Condo Vultures compiled data that indicates Marquez's group sold the units to another Miami-based entity, Rentdepo LLC, for $1.45 million, or $118 a square foot, on the same day.
Condo Vultures principal Peter Zalewski, states:
“Even at the retraded price, the ultimate bulk owner still purchased the units at a 60% discount compared to the $293 [a square foot] average closed sales price in the project.”
Bal Harbour-based real estate research firm Condo Vultures compiled data that indicates Marquez's group sold the units to another Miami-based entity, Rentdepo LLC, for $1.45 million, or $118 a square foot, on the same day.
Condo Vultures principal Peter Zalewski, states:
“Even at the retraded price, the ultimate bulk owner still purchased the units at a 60% discount compared to the $293 [a square foot] average closed sales price in the project.”
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