131 NW 77^TH ST

DEAL STORY

The Alpha Commercial Advisors^TM is proud to announce the closing of 131 NW 77th Street, a 12-unit multifamily asset in Miami’s transforming Little River neighborhood. Our team triumphantly represented both the seller and the buyer in this swiftly navigated on-market transaction.

First, Steffanie Jacobson and Jamie Rose Maniscalco secured the listing for THE ALPHA through focused neighborhood farming and deep conviction for the area’s long-term upside, edging out several larger firms who had long been circling the deal. Molli Leoni stepped in to represent the buyer, playing a key role throughout in bringing the added care and diligence needed to ensure a smooth-as-can-be experience through the natural complexities of the transaction. We entered contract in just under a week from the public listing launch—at a price higher than any prior off-market offers—validating the advantage of strategic marketing in creating a pressure-cooker environment.

The seller, an independent owner repositioning after a life event, was looking to trade into a less management-intensive, more retirement-friendly 1031 Exchange property. A perfect fit, the buyer is a local investor with an existing foothold in the area, in-house management capabilities, and a long-term vision aligned with the neighborhood’s growth trajectory.

The property sold for $2,425,000, or roughly $202,000 per unit, and closed at a 6% cap rate on in-place income—a strong outcome given current financial market uncertainty and lending headwinds. Our team is grateful to all parties involved in this transaction, and is endlessly appreciative of both buyer and seller for going all-in with us on a great deal where everyone won!