Republic Real Estate, a branch of the New York-based investment platform Republic, is selling shares in a unit in Brickell Flatiron. Reported Miami Herald. So far, 600 investors have put up a total of $260,000, betting on growth both in the rent and on appreciation. The unit is under contract for $465,000, below the listing price of $489,000. Republic’s goal is to syndicate a total of $300,000.
Each investor will receive 2% to 3% from the rent paid for unit 3006, a 898-square-foot one bedroom, one-and-a-half bath condo, Yorio said. Investors can spend anywhere from $106.40 to $50,000; the average has been $208. The return per year would be about $2 for someone who spends the minimum.
But the primary investment draw is appreciation. Republic plans to sell the unit after three-to-five years, Yorio said. Should the investment sell for $1 million — more than double the purchase price — an investor who put in the minimum could expect to earn $200.