Astor Picks Little Havana for Apartments

Astor Cos. purchased a multifamily development site in the Little Havana neighborhood of Miami for $10 million. Sunny Management sold the 1.17-acre site at 315 N.W. 27th Ave. to Astor Cos. Eddie Toledo and Jonathan De La Rosa of Marcus & Millichap brokered the deal.

The S. Florida Business Journal reports the site last traded for $950,000 in 1998.

The new project. Havana Enclave, will feature 179 apartments and 1,866 square feet of retail in eight stories, along with a pool and a fitness center. The office building that was previously there was demolished in 2023.

Rents would start at $1,985 for a studio, $2,323 for a one-bedroom unit and $2,727 for a two-bedroom unit. Amenities would include a pool, a meeting room, a fitness center and a business center.

The construction budget would be about $55 million. Construction could start in July or August, and the project should take 18 months to complete.

Industry leaders and power players are connecting at Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa. Don’t miss the expert’s take on where the market is headed, and what changes are on the horizon. Register Now!