The Imperial Club assisted/independent living tower in Aventura has been sold for $43.2 million by its ownership group.
The 14-story, 213-unit facility at 2751 N.E. 183rd Street was previously owned by First Baptist Housing of Bridgeport and Silver Tree Residential. It has now been acquired by Southside Church of God in Christ and Smith & Henzy Affordable Group for a price equivalent to $202,793 per unit. The building’s previous sale was in 2019 for $22.91 million.
Built on a site measuring approximately 1.37 acres, the Imperial Club spans over an area of206,281 square feet and features amenities such as a fitness center, dining hall,and pool.
According to reports from the South Florida Business Journal,the new owners plan to convert the Imperial Club into independent living unitsfor low-income seniors after undergoing renovations.The income restrictions will allow themto access government financial assistance for both acquisition and renovations.Additionally,the Housing Finance Authority of Miami-Dade County recently issued$60 millionin multifamily housing revenue bonds specifically designatedforthe renovationoftheImperialClub.
