Canero, 8K pay $28M for majority of Coconut Grove condo
Condo buyout fever is creeping deeper into Coconut Grove, where a pair of Miami firms paid a combined $27.7 million for a majority of units in an aging complex. Miami-based Canero Group, led by Jose Canero Sr. and Jose Canero Jr., and Miami-based 8K Capital, led by Alexander Levin, acquired 59 of the 66 units in the Virginia Pointe Condominium at 3245 Virginia Street, records and real estate database Vizzda show. The joint venture paid an average of $470,000 per unit. The 1966-built Virginia Pointe is near the Grove’s business district, and most of the units carried Miami-Dade County taxable […]This article originally appeared on The Real Deal. Click here to read the full story.
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