Falcone sells Flagler Village rental tower for $108M as i-sales pick up
Art Falcone’s firm sold a Flagler Village apartment tower for $108 million, amid a recent uptick in South Florida multifamily deals despite a regional oversupply of rentals. An entity tied to Falcone’s Boca Raton-based firm sold the 30-story, 348-unit The Rise Flagler Village to an affiliate of New York-based Journey Capital, according to records and real estate database Vizzda. Falcone leads Falcone Group, Rescore Property and Encore Capital Management. The sale breaks down to $310,000 per unit. Journey, founded and led by Peter Calatozzo, financed the purchase with an $88.3 million Fannie Mae loan, maturing in 2031. The Rise consists […]This article originally appeared on The Real Deal. Click here to read the full story.
Recent Posts
Moishe Mana inks $33M in downtown Miami deals in 10 days
DeSantis’ property tax cut faces legal challenge over ballot language
Hollywood proposes upping building heights near historic hotel as coastal cities reevaluate regulations
Kent Security sues developer Michael Stern over unpaid bills
Kimco’s $109M grocery-anchored shopping spree picks up Publix, Walmart centers in Broward
Final member of $6M-plus insurance fraud ring sentenced to nearly 4 years
South Florida’s top deals: Kimco buys Broward shopping centers for $109M
“Reckless”: Lawsuit accuses Madison Realty of negligence and financial mismanagement at downtown Miami condo-hotel tower
Hip hop mogul Rick Ross adds “developer” to resume in Miami Gardens
Florida REIT accused of fraud, spending investor money on jets, jewelry, gun ranges, adult clubs
