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UPDATE

August 04.2025

2 Minutes Read

DRA Advisors Invests $74M in Miami's Allapattah: What Homeowners Should Know

DRA jumps into Miami’s Allapattah with $74M multifamily acquisition

DRA Advisors Ventures into Miami's Thriving Allapattah Neighborhood

DRA Advisors, a well-known firm based in New York, has taken a significant step in Miami's real estate landscape by acquiring the Modera Skylar apartment complex for $73.5 million. This impressive multifamily project, which boasts 263 units, showcases a mix of studio to three-bedroom apartments and is strategically located in a neighborhood experiencing rapid growth.

A Closer Look at Modera Skylar

The Modera Skylar complex features two 20-story buildings alongside a five-story parking garage that includes a rooftop pool deck. Initially established through a partnership between Mill Creek Residential and Rockwood Capital, the complex emerged in phases, with the first 166 units completed in 2013 and an additional 97 units added in 2017.

What Makes Allapattah a Hot Spot?

Allapattah has gained a reputation for its increasing number of multifamily projects that command higher than average rents. Currently, the average rent for a one-bedroom apartment in the area stands at $2,500 per month—higher than the $2,100 average for Miami as a whole. This surge in rental prices indicates a demand for apartments in the district, making it a prime target for real estate investors.

Future Trends and Insights

This acquisition by DRA is a clear reflection of the strong investor interest in the Allapattah area and signals a promising outlook for future developments. As rent prices continue to rise, this could open up opportunities for more housing projects, attracting a range of tenants from professionals seeking urban living to families looking for more spacious accommodations.

Connecting with Local Homeowners

For Florida homeowners and potential investors alike, the movements in Allapattah highlight the importance of staying informed on local market trends. As the neighborhood evolves, it may present opportunities not only for rental investments but also for enhancing community offerings and amenities.

Call to Action: Keep an eye on the developments in Allapattah, as they may influence property values in your vicinity. Stay updated with real estate news to recognize any opportunities that may arise moving forward!

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DRA Advisors Invests $74M in Miami's Allapattah: What Homeowners Should Know

DRA Advisors Ventures into Miami's Thriving Allapattah Neighborhood

A Closer Look at Modera Skylar

What Makes Allapattah a Hot Spot?

Future Trends and Insights

Connecting with Local Homeowners

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