{"id":1903,"date":"2025-11-13T15:59:02","date_gmt":"2025-11-13T20:59:02","guid":{"rendered":"https:\/\/www.brickellsold.com\/blog\/kendall-apartment-project-sells-for-42m-discount\/"},"modified":"2026-04-13T10:35:09","modified_gmt":"2026-04-13T14:35:09","slug":"kendall-apartment-project-sells-for-42m-discount","status":"publish","type":"post","link":"https:\/\/www.brickellsold.com\/blog\/kendall-apartment-project-sells-for-42m-discount\/","title":{"rendered":"7 Proven Kendall Apartment Project Sells For $42M Discount: Mistakes to Avoid"},"content":{"rendered":"
\n

The billionaire family that owns the Washington Nationals struck out in the Kendall multifamily submarket.\u00a0<\/p>\n

Kendall Apartment Project Sells<\/strong> helps improve planning, consistency, and publishing quality when teams follow a repeatable workflow.<\/p>\n

An affiliate of Rockville, Maryland-based Lerner Residential sold Motion at Dadeland, a 25-story tower with 295 apartments at 8400 South Dixie Highway for $72.4 million, records and real estate database Vizzda show. The buyer, an affiliate of Los Angeles-based JRK Property Holdings, led by Jay Lippman, paid $41.6 million below the previous sale price four years ago.\u00a0<\/p>\n

Berkadia\u2019s Jaret Turkell and Omar Morales brokered the deal. JRK paid roughly $245,424 per apartment.\u00a0<\/p>\n

As part of the deal, JRK assumed an existing $57.8 million commercial securities mortgage backed loan originated by Berkadia, according to Vizzda.\u00a0<\/p>\n

Lerner Residential and JRK representatives did not respond to requests for comment.\u00a0<\/p>\n

Lerner Residential, the multifamily arm of Lerner Enterprises, led by Mark Lerner, bought Motion at Dadeland in 2021 for $114 million, assuming an $89.5 million loan at the time, records show. The Lerner family bought the Washington Nationals in 2006 for $450 million.\u00a0<\/p>\n

Lerner\u2019s sale to JRK marks a significant price drop, underscoring ongoing revaluations in south Florida\u2019s multifamily market amid an oversupply of apartments, a slowdown in rent growth, high interest rates and constraints on equity capital.\u00a0<\/p>\n

In Palm Beach Gardens, Boston-based West Shore this month bought a 542-unit apartment complex for $117.9 million. The seller, Aventura-based Advenir, paid $97.3 million for the property in 2018, but also took out an $80 million loan the same year to renovate the 34 two-story rental buildings, a storage building and a clubhouse.\u00a0<\/p>\n

Completed in 2019 on a 0.8-acre site, Motion at Dadeland spans roughly 514,600 square feet. The tower offers studios, one-, two- and three-bedroom apartments. Motion at Dadeland also has 8,000 square feet of ground-floor retail space. Asking rents range from $1,955 to $4,310 a month, according to Apartments.com\u00a0<\/p>\n

Miami-based Adler Group, 13th Floor Investments, and Barings developed Motion at Dadeland with a $50 million construction loan. The joint venture sold the completed apartments to Lerner Residential.\u00a0<\/p>\n<\/div>\n

{“props”:{“pageProps”:{“hamburgerMenu”:[{“url”:null,”label”:”News”,”external”:false,”childItems”:{“nodes”:[{“label”:”All Markets”,”url”:”\/latest\/”,”external”:false,”childItems”:{“nodes”:[{“label”:”San Francisco”,”url”:”\/san-francisco\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”New York”,”url”:”https:\/\/therealdeal.com\/new-york\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”South Florida”,”url”:”https:\/\/therealdeal.com\/miami\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”Los Angeles”,”url”:”https:\/\/therealdeal.com\/la\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”Chicago”,”url”:”https:\/\/therealdeal.com\/chicago\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”National”,”url”:”\/national\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”Texas”,”url”:”\/texas\/”,”external”:false,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Sectors”,”url”:”#”,”external”:false,”childItems”:{“nodes”:[{“label”:”Residential”,”url”:”https:\/\/therealdeal.com\/sector\/residential\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”Commercial”,”url”:”https:\/\/therealdeal.com\/sector\/commercial\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”Development”,”url”:”https:\/\/therealdeal.com\/sector\/development\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”Politics”,”url”:”\/sector\/politics\/”,”external”:false,”__typename”:”MenuItem”},{“label”:”Tech”,”url”:”\/sector\/tech\/”,”external”:false,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“url”:”\/data\/”,”label”:”Data”,”external”:false,”childItems”:{“nodes”:[{“label”:”Dashboard”,”url”:”\/data\/new-york-residential-dashboard\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Snapshots”,”url”:”\/data\/snapshots\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Articles”,”url”:”\/data\/articles\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Rankings”,”url”:”\/data\/rankings\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Interactive Maps”,”url”:”\/data\/interactive\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Directory”,”url”:”\/data\/directory\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Data Books”,”url”:”\/data\/data-books\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“url”:null,”label”:”Magazine”,”external”:false,”childItems”:{“nodes”:[{“label”:”Data Book 2025″,”url”:”https:\/\/therealdeal.com\/databook-2025-digital\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Current Issue”,”url”:”\/magazine\/latest”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Issue Archives”,”url”:”\/magazine”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”The Closing”,”url”:”\/tag\/the-closing\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“url”:”\/weekend\/”,”label”:”Weekend”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“url”:”https:\/\/events.therealdeal.com\/”,”label”:”Events”,”external”:true,”childItems”:{“nodes”:[{“label”:”Miami Forum”,”url”:”https:\/\/events.therealdeal.com\/miami\/home?utm_source=webu0026utm_medium=navigationu0026utm_campaign=navigation_menu_item”,”external”:true,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Building Houston”,”url”:”https:\/\/events.therealdeal.com\/bsh-events\/building-luxury-houston?utm_source=webu0026utm_medium=navigationu0026utm_campaign=navigation_menu_item”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Staged to Sell: David Martin”,”url”:”https:\/\/events.therealdeal.com\/artefacto-events\/david-martin\/?utm_source=webu0026utm_medium=navigationu0026utm_campaign=navigation_menu_item”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Future City”,”url”:”https:\/\/futurecity.therealdeal.com\/?utm_source=webu0026utm_medium=navigationu0026utm_campaign=navigation_menu_item”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Salon Series”,”url”:”https:\/\/events.therealdeal.com\/salon-series\/home?utm_source=webu0026utm_medium=navigationu0026utm_campaign=navigation_menu_item”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”New York Forum”,”url”:”https:\/\/events.therealdeal.com\/new-york\/home?utm_source=webu0026utm_medium=navigationu0026utm_campaign=navigation_menu_item”,”external”:true,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Golf Classic”,”url”:”https:\/\/events.therealdeal.com\/golf-classic\/home?utm_source=webu0026utm_medium=navigationu0026utm_campaign=navigation_menu_item”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Industry Events”,”url”:”\/industry-events”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“url”:”\/video”,”label”:”Video + Podcast”,”external”:false,”childItems”:{“nodes”:[{“label”:”Video”,”url”:”\/video”,”external”:true,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Podcast”,”url”:”\/deconstruct-podcast”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“url”:null,”label”:”Partners”,”external”:false,”childItems”:{“nodes”:[{“label”:”Brand Studio”,”url”:null,”external”:false,”childItems”:{“nodes”:[{“label”:”Content”,”url”:”\/brand-studio”,”external”:false,”__typename”:”MenuItem”},{“label”:”Videos”,”url”:”\/video\/playlist\/PLyPHLrQofDtTmGhmB4EUC0_c9J1c1_DMa”,”external”:false,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Collaborate”,”url”:null,”external”:false,”childItems”:{“nodes”:[{“label”:”Advertise”,”url”:”\/advertising”,”external”:false,”__typename”:”MenuItem”},{“label”:”Sponsor u0026 Exhibit”,”url”:”https:\/\/advertising.therealdeal.com\/events\/exhibitors?utm_source=webu0026utm_medium=navigationu0026utm_campaign=navigation_menu_item”,”external”:false,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Engage”,”url”:null,”external”:false,”childItems”:{“nodes”:[{“label”:”Sponsored Content”,”url”:”\/sponsored”,”external”:false,”__typename”:”MenuItem”},{“label”:”Appliance Innovation Hub”,”url”:”https:\/\/advertising.therealdeal.com\/brand-studio\/hubs\/bsh\/home?utm_source=nav”,”external”:true,”__typename”:”MenuItem”},{“label”:”Multifamily Index”,”url”:”https:\/\/advertising.therealdeal.com\/brand-studio\/hubs\/amazon\/multifamily-market-index-2″,”external”:false,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“url”:”\/newsletters\/”,”label”:”Newsletters”,”external”:true,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“url”:”https:\/\/help.therealdeal.com\/knowledge\/kb-tickets\/new?utm_source=therealdeal.comu0026utm_medium=referralu0026utm_content=784725u0026utm_campaign=trd_external_link”,”label”:”Customer Service”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“url”:”#”,”label”:”Other”,”external”:false,”childItems”:{“nodes”:[{“label”:”About Us”,”url”:”https:\/\/therealdeal.com\/about\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Contact Us”,”url”:”https:\/\/therealdeal.com\/contact-us\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Privacy Policy”,”url”:”https:\/\/therealdeal.com\/privacy-policy\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Subscribe”,”url”:”https:\/\/therealdeal.com\/subscription\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Corporate Subscriptions”,”url”:”https:\/\/therealdeal.com\/corporate\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Advertise”,”url”:”https:\/\/therealdeal.com\/advertising\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Careers”,”url”:”https:\/\/therealdeal.com\/careers\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Shop”,”url”:”https:\/\/shop.therealdeal.com\/?utm_source=therealdeal.comu0026utm_medium=referralu0026utm_content=784725u0026utm_campaign=trd_external_link”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“label”:”Reprints”,”url”:”https:\/\/www.parsintl.com\/publications\/the-real-deal\/”,”external”:false,”childItems”:{“nodes”:[],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”}],”footer”:{“menu”:{“menuItems”:{“nodes”:[{“id”:”cG9zdDo5ODk4MzA=”,”url”:null,”target”:null,”label”:”The Real Deal”,”childItems”:{“nodes”:[{“id”:”cG9zdDoyNDE3ODk=”,”label”:”About us”,”url”:”https:\/\/therealdeal.com\/about\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDoyNDE3OTA=”,”label”:”Contact us”,”url”:”https:\/\/therealdeal.com\/contact-us\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo3NDQxNDY=”,”label”:”Careers”,”url”:”https:\/\/therealdeal.com\/careers\/”,”target”:null,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4MzE=”,”url”:null,”target”:null,”label”:”Markets”,”childItems”:{“nodes”:[{“id”:”cG9zdDo5ODk4MzU=”,”label”:”New York”,”url”:”https:\/\/therealdeal.com\/new-york\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4MzY=”,”label”:”South Florida”,”url”:”https:\/\/therealdeal.com\/miami\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4Mzc=”,”label”:”Los Angeles”,”url”:”https:\/\/therealdeal.com\/la\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4Mzg=”,”label”:”Chicago”,”url”:”https:\/\/therealdeal.com\/chicago\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4Mzk=”,”label”:”Latest News”,”url”:”https:\/\/therealdeal.com\/latest\/”,”target”:null,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4NDA=”,”url”:null,”target”:null,”label”:”Sections”,”childItems”:{“nodes”:[{“id”:”cG9zdDo5ODk4NDE=”,”label”:”Commercial”,”url”:”https:\/\/therealdeal.com\/sector\/commercial\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4NDI=”,”label”:”Residential”,”url”:”https:\/\/therealdeal.com\/sector\/residential\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4NDM=”,”label”:”Development”,”url”:”https:\/\/therealdeal.com\/sector\/development\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4NDQ=”,”label”:”Video”,”url”:”https:\/\/therealdeal.com\/video\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4NDU=”,”label”:”Newsletters”,”url”:”https:\/\/therealdeal.com\/newsletters\/”,”target”:null,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4MzI=”,”url”:null,”target”:null,”label”:”Products u0026 Services”,”childItems”:{“nodes”:[{“id”:”cG9zdDoyNDE3OTQ=”,”label”:”Advertise”,”url”:”https:\/\/therealdeal.com\/advertising\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDoyNDE3OTI=”,”label”:”Subscribe”,”url”:”https:\/\/therealdeal.com\/subscription\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDoyNDE3OTU=”,”label”:”Customer Service”,”url”:”https:\/\/help.therealdeal.com\/knowledge\/kb-tickets\/new”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo3NjM1MTU=”,”label”:”Corporate Subscriptions”,”url”:”https:\/\/therealdeal.com\/corporate\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4NDc=”,”label”:”Data”,”url”:”https:\/\/therealdeal.com\/data\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo4MjgyNTQ=”,”label”:”Reprints”,”url”:”https:\/\/www.parsintl.com\/publications\/the-real-deal\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo3NDQxNDc=”,”label”:”Shop”,”url”:”https:\/\/shop.therealdeal.com\/”,”target”:null,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”},{“id”:”cG9zdDo5ODk4MzQ=”,”url”:null,”target”:null,”label”:”Legal”,”childItems”:{“nodes”:[{“id”:”cG9zdDo4NDI3NDE=”,”label”:”Terms and Conditions”,”url”:”https:\/\/therealdeal.com\/terms-and-conditions-for-data-use\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDoyNDE3OTE=”,”label”:”Privacy Policy”,”url”:”https:\/\/therealdeal.com\/privacy-policy\/”,”target”:null,”__typename”:”MenuItem”},{“id”:”cG9zdDo5OTc4MTI=”,”label”:”Privacy Preferences”,”url”:”#privacy-preferences”,”target”:null,”__typename”:”MenuItem”}],”__typename”:”MenuItemToMenuItemConnection”},”__typename”:”MenuItem”}],”__typename”:”MenuToMenuItemConnection”},”__typename”:”Menu”},”themeGeneralSettings”:{“address”:”450 West 31st Street, New York, NY 10001″,”addressLink”:”https:\/\/www.google.com\/maps\/place\/450+W+31st+St,+New+York,+NY+10001,+USA\/data=!4m2!3m1!1s0x89c259b15bf104ad:0x51887886edfd68f6?sa=Xu0026ved=2ahUKEwjIp43714H2AhUBv4sKHek7BjYQ8gF6BAgMEAE”,”email”:”trd@therealdeal.com”,”footerReservedText”:”All rights reserved \u00a9 2025 The Real Deal is a registered Trademark of Korangy Publishing Inc.”,”phone”:”212-260-1332″,”socialLinks”:[{“icon”:”twitter”,”url”:”https:\/\/twitter.com\/trdny”,”__typename”:”SocialLink”},{“icon”:”facebook”,”url”:”https:\/\/www.facebook.com\/therealdealmedia\/”,”__typename”:”SocialLink”},{“icon”:”instagram”,”url”:”https:\/\/www.instagram.com\/therealdeal\/”,”__typename”:”SocialLink”},{“icon”:”youtube”,”url”:”https:\/\/www.youtube.com\/channel\/UCKXsx1tuopwO91QSgjrmA1g”,”__typename”:”SocialLink”},{“icon”:”linkedin”,”url”:”https:\/\/www.linkedin.com\/company\/therealdeal”,”__typename”:”SocialLink”},{“icon”:”newsletter”,”url”:”https:\/\/therealdeal.com\/newsletters\/”,”__typename”:”SocialLink”}],”__typename”:”ThemeGeneralSettings”}},”stylesWp”:[{“styles”:”:root{–wp–preset–aspect-ratio–square: 1;–wp–preset–aspect-ratio–4-3: 4\/3;–wp–preset–aspect-ratio–3-4: 3\/4;–wp–preset–aspect-ratio–3-2: 3\/2;–wp–preset–aspect-ratio–2-3: 2\/3;–wp–preset–aspect-ratio–16-9: 16\/9;–wp–preset–aspect-ratio–9-16: 9\/16;–wp–preset–color–black: #000000;–wp–preset–color–cyan-bluish-gray: #abb8c3;–wp–preset–color–white: #ffffff;–wp–preset–color–pale-pink: #f78da7;–wp–preset–color–vivid-red: #cf2e2e;–wp–preset–color–luminous-vivid-orange: #ff6900;–wp–preset–color–luminous-vivid-amber: #fcb900;–wp–preset–color–light-green-cyan: #7bdcb5;–wp–preset–color–vivid-green-cyan: #00d084;–wp–preset–color–pale-cyan-blue: #8ed1fc;–wp–preset–color–vivid-cyan-blue: #0693e3;–wp–preset–color–vivid-purple: #9b51e0;–wp–preset–gradient–vivid-cyan-blue-to-vivid-purple: linear-gradient(135deg,rgba(6,147,227,1) 0%,rgb(155,81,224) 100%);–wp–preset–gradient–light-green-cyan-to-vivid-green-cyan: linear-gradient(135deg,rgb(122,220,180) 0%,rgb(0,208,130) 100%);–wp–preset–gradient–luminous-vivid-amber-to-luminous-vivid-orange: linear-gradient(135deg,rgba(252,185,0,1) 0%,rgba(255,105,0,1) 100%);–wp–preset–gradient–luminous-vivid-orange-to-vivid-red: linear-gradient(135deg,rgba(255,105,0,1) 0%,rgb(207,46,46) 100%);–wp–preset–gradient–very-light-gray-to-cyan-bluish-gray: linear-gradient(135deg,rgb(238,238,238) 0%,rgb(169,184,195) 100%);–wp–preset–gradient–cool-to-warm-spectrum: linear-gradient(135deg,rgb(74,234,220) 0%,rgb(151,120,209) 20%,rgb(207,42,186) 40%,rgb(238,44,130) 60%,rgb(251,105,98) 80%,rgb(254,248,76) 100%);–wp–preset–gradient–blush-light-purple: linear-gradient(135deg,rgb(255,206,236) 0%,rgb(152,150,240) 100%);–wp–preset–gradient–blush-bordeaux: linear-gradient(135deg,rgb(254,205,165) 0%,rgb(254,45,45) 50%,rgb(107,0,62) 100%);–wp–preset–gradient–luminous-dusk: linear-gradient(135deg,rgb(255,203,112) 0%,rgb(199,81,192) 50%,rgb(65,88,208) 100%);–wp–preset–gradient–pale-ocean: linear-gradient(135deg,rgb(255,245,203) 0%,rgb(182,227,212) 50%,rgb(51,167,181) 100%);–wp–preset–gradient–electric-grass: linear-gradient(135deg,rgb(202,248,128) 0%,rgb(113,206,126) 100%);–wp–preset–gradient–midnight: linear-gradient(135deg,rgb(2,3,129) 0%,rgb(40,116,252) 100%);–wp–preset–font-size–small: 13px;–wp–preset–font-size–medium: 20px;–wp–preset–font-size–large: 36px;–wp–preset–font-size–x-large: 42px;–wp–preset–spacing–20: 0.44rem;–wp–preset–spacing–30: 0.67rem;–wp–preset–spacing–40: 1rem;–wp–preset–spacing–50: 1.5rem;–wp–preset–spacing–60: 2.25rem;–wp–preset–spacing–70: 3.38rem;–wp–preset–spacing–80: 5.06rem;–wp–preset–shadow–natural: 6px 6px 9px rgba(0, 0, 0, 0.2);–wp–preset–shadow–deep: 12px 12px 50px rgba(0, 0, 0, 0.4);–wp–preset–shadow–sharp: 6px 6px 0px rgba(0, 0, 0, 0.2);–wp–preset–shadow–outlined: 6px 6px 0px -3px rgba(255, 255, 255, 1), 6px 6px rgba(0, 0, 0, 1);–wp–preset–shadow–crisp: 6px 6px 0px rgba(0, 0, 0, 1);}:where(.is-layout-flex){gap: 0.5em;}:where(.is-layout-grid){gap: 0.5em;}body .is-layout-flex{display: flex;}.is-layout-flex{flex-wrap: wrap;align-items: center;}.is-layout-flex u003e :is(*, div){margin: 0;}body .is-layout-grid{display: grid;}.is-layout-grid u003e :is(*, div){margin: 0;}:where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;}:where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;}.has-black-color{color: var(–wp–preset–color–black) !important;}.has-cyan-bluish-gray-color{color: var(–wp–preset–color–cyan-bluish-gray) !important;}.has-white-color{color: var(–wp–preset–color–white) !important;}.has-pale-pink-color{color: var(–wp–preset–color–pale-pink) !important;}.has-vivid-red-color{color: var(–wp–preset–color–vivid-red) !important;}.has-luminous-vivid-orange-color{color: var(–wp–preset–color–luminous-vivid-orange) !important;}.has-luminous-vivid-amber-color{color: var(–wp–preset–color–luminous-vivid-amber) !important;}.has-light-green-cyan-color{color: var(–wp–preset–color–light-green-cyan) !important;}.has-vivid-green-cyan-color{color: var(–wp–preset–color–vivid-green-cyan) !important;}.has-pale-cyan-blue-color{color: var(–wp–preset–color–pale-cyan-blue) !important;}.has-vivid-cyan-blue-color{color: var(–wp–preset–color–vivid-cyan-blue) !important;}.has-vivid-purple-color{color: var(–wp–preset–color–vivid-purple) !important;}.has-black-background-color{background-color: var(–wp–preset–color–black) !important;}.has-cyan-bluish-gray-background-color{background-color: var(–wp–preset–color–cyan-bluish-gray) !important;}.has-white-background-color{background-color: var(–wp–preset–color–white) !important;}.has-pale-pink-background-color{background-color: var(–wp–preset–color–pale-pink) !important;}.has-vivid-red-background-color{background-color: var(–wp–preset–color–vivid-red) !important;}.has-luminous-vivid-orange-background-color{background-color: var(–wp–preset–color–luminous-vivid-orange) !important;}.has-luminous-vivid-amber-background-color{background-color: var(–wp–preset–color–luminous-vivid-amber) !important;}.has-light-green-cyan-background-color{background-color: var(–wp–preset–color–light-green-cyan) !important;}.has-vivid-green-cyan-background-color{background-color: var(–wp–preset–color–vivid-green-cyan) !important;}.has-pale-cyan-blue-background-color{background-color: var(–wp–preset–color–pale-cyan-blue) !important;}.has-vivid-cyan-blue-background-color{background-color: var(–wp–preset–color–vivid-cyan-blue) !important;}.has-vivid-purple-background-color{background-color: var(–wp–preset–color–vivid-purple) !important;}.has-black-border-color{border-color: var(–wp–preset–color–black) !important;}.has-cyan-bluish-gray-border-color{border-color: var(–wp–preset–color–cyan-bluish-gray) !important;}.has-white-border-color{border-color: var(–wp–preset–color–white) !important;}.has-pale-pink-border-color{border-color: var(–wp–preset–color–pale-pink) !important;}.has-vivid-red-border-color{border-color: var(–wp–preset–color–vivid-red) !important;}.has-luminous-vivid-orange-border-color{border-color: var(–wp–preset–color–luminous-vivid-orange) !important;}.has-luminous-vivid-amber-border-color{border-color: var(–wp–preset–color–luminous-vivid-amber) !important;}.has-light-green-cyan-border-color{border-color: var(–wp–preset–color–light-green-cyan) !important;}.has-vivid-green-cyan-border-color{border-color: var(–wp–preset–color–vivid-green-cyan) !important;}.has-pale-cyan-blue-border-color{border-color: var(–wp–preset–color–pale-cyan-blue) !important;}.has-vivid-cyan-blue-border-color{border-color: var(–wp–preset–color–vivid-cyan-blue) !important;}.has-vivid-purple-border-color{border-color: var(–wp–preset–color–vivid-purple) !important;}.has-vivid-cyan-blue-to-vivid-purple-gradient-background{background: var(–wp–preset–gradient–vivid-cyan-blue-to-vivid-purple) !important;}.has-light-green-cyan-to-vivid-green-cyan-gradient-background{background: var(–wp–preset–gradient–light-green-cyan-to-vivid-green-cyan) !important;}.has-luminous-vivid-amber-to-luminous-vivid-orange-gradient-background{background: var(–wp–preset–gradient–luminous-vivid-amber-to-luminous-vivid-orange) !important;}.has-luminous-vivid-orange-to-vivid-red-gradient-background{background: var(–wp–preset–gradient–luminous-vivid-orange-to-vivid-red) !important;}.has-very-light-gray-to-cyan-bluish-gray-gradient-background{background: var(–wp–preset–gradient–very-light-gray-to-cyan-bluish-gray) !important;}.has-cool-to-warm-spectrum-gradient-background{background: var(–wp–preset–gradient–cool-to-warm-spectrum) !important;}.has-blush-light-purple-gradient-background{background: var(–wp–preset–gradient–blush-light-purple) !important;}.has-blush-bordeaux-gradient-background{background: var(–wp–preset–gradient–blush-bordeaux) !important;}.has-luminous-dusk-gradient-background{background: var(–wp–preset–gradient–luminous-dusk) !important;}.has-pale-ocean-gradient-background{background: var(–wp–preset–gradient–pale-ocean) !important;}.has-electric-grass-gradient-background{background: var(–wp–preset–gradient–electric-grass) !important;}.has-midnight-gradient-background{background: var(–wp–preset–gradient–midnight) !important;}.has-small-font-size{font-size: var(–wp–preset–font-size–small) !important;}.has-medium-font-size{font-size: var(–wp–preset–font-size–medium) !important;}.has-large-font-size{font-size: var(–wp–preset–font-size–large) !important;}.has-x-large-font-size{font-size: var(–wp–preset–font-size–x-large) !important;}”,”type”:”list”,”__typename”:”StyleItem”}],”post”:{“id”:”cG9zdDoxMDAwNTY4″,”databaseId”:1000568,”title”:”Strike out! Washington Nationals owner sells Kendall apartment project at $42M loss”,”status”:”publish”,”slug”:”kendall-apartment-project-sells-for-42m-discount”,”uri”:”\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/”,”link”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/”,”dateGmt”:”2025-11-13T20:50:44″,”contentTypeName”:”post”,”contentFiltered”:”u003cpu003eThe billionaire family that owns the Washington Nationals struck out in the Kendall multifamily submarket.\u00a0u003c\/pu003enu003cpu003eAn affiliate of Rockville, Maryland-based Lerner Residential sold Motion at Dadeland, a 25-story tower with 295 apartments at 8400 South Dixie Highway for $72.4 million, records and real estate database Vizzda show. The buyer, an affiliate of Los Angeles-based u003ca href=”\/la\/2025\/06\/27\/jrk-property-buys-chase-knolls-apartments-in-sherman-oaks\/”u003eJRK Property Holdingsu003c\/au003e, led by Jay Lippman, paid $41.6 million below the previous sale price four years ago.u0026nbsp;u003c\/pu003enu003cpu003eBerkadia\u2019s Jaret Turkell and Omar Morales brokered the deal. JRK paid roughly $245,424 per apartment.u0026nbsp;u003c\/pu003enu003cpu003eAs part of the deal, JRK assumed an existing $57.8 million commercial securities mortgage backed loan originated by Berkadia, according to Vizzda.u0026nbsp;u003c\/pu003enu003cpu003eLerner Residential and JRK representatives did not respond to requests for comment.u0026nbsp;u003c\/pu003enu003cpu003eLerner Residential, the multifamily arm of Lerner Enterprises, led by Mark Lerner, bought Motion at Dadeland in 2021 for u003ca href=”\/miami\/2021\/10\/21\/home-run-washington-nationals-owner-buys-dadeland-apartments-for-114m\/”u003e$114 millionu003c\/au003e, assuming an $89.5 million loan at the time, records show. The Lerner family bought the Washington Nationals in 2006 for $450 million.u0026nbsp;u003c\/pu003enu003cpu003eLerner\u2019s sale to JRK marks a significant price drop, underscoring ongoing revaluations in u003ca href=”\/miami\/2025\/10\/31\/are-developers-overbuilding-apartments-in-south-florida\/”u003esouth Florida\u2019s multifamily marketu003c\/au003e amid an oversupply of apartments, a slowdown in rent growth, high interest rates and constraints on equity capital.u0026nbsp;u003c\/pu003enu003cpu003eIn Palm Beach Gardens, Boston-based West Shore this month bought a 542-unit apartment complex for u003ca href=”\/miami\/2025\/11\/10\/advenir-sells-palm-beach-gardens-apartments-to-west-shore\/”u003e$117.9 millionu003c\/au003e. The seller, Aventura-based Advenir, paid $97.3 million for the property in 2018, but also took out an $80 million loan the same year to renovate the 34 two-story rental buildings, a storage building and a clubhouse.u0026nbsp;u003c\/pu003enu003cpu003eCompleted in 2019 on a 0.8-acre site, Motion at Dadeland spans roughly 514,600 square feet. The tower offers studios, one-, two- and three-bedroom apartments. Motion at Dadeland also has 8,000 square feet of ground-floor retail space. Asking rents range from $1,955 to $4,310 a month, according to Apartments.comu0026nbsp;u003c\/pu003enu003cpu003eMiami-based Adler Group, 13th Floor Investments, and Barings developed Motion at Dadeland with a u003ca href=”\/miami\/2016\/08\/16\/adler-13th-floor-close-50m-construction-loan-for-dadeland-project\/”u003e$50 millionu003c\/au003e construction loan. The joint venture sold the completed apartments to Lerner Residential.u0026nbsp;u003c\/pu003en”,”noAds”:false,”alternativeHeadline”:{“subheadline”:”Lerner Residential sold 25-story, 294-unit Motion at Dadeland for $72M to JRK Property Holdings”,”__typename”:”AlternativeHeadline”},”updatedPost”:{“updated”:false,”date”:”2025-11-13T20:55:00+00:00″,”__typename”:”UpdatedPost”},”aiSummary”:{“summary”:”u003cpu003eu003c!– wp:list –u003eu003c\/pu003ernu003cul class=”wp-block-list”u003eu003c!– wp:list-item –u003ernu003cliu003eAn affiliate of Lerner Residential, the real estate arm of the Washington Nationals ownership family, sold the 25-story, 295-unit Motion at Dadeland apartment tower for $72.4 million.u003c\/liu003ernu003c!– \/wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eThe sale to Los Angeles-based JRK Property Holdings represents a $41.6 million loss for Lerner Residential, which had purchased the property in 2021 for $114 million.u003c\/liu003ernu003c!– \/wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eThe significant price drop underscores ongoing revaluations in South Florida’s multifamily market, attributed to an oversupply of apartments, slower rent growth, high interest rates and constraints on equity capital.u003c\/liu003ernu003c!– \/wp:list-item –u003eu003c\/ulu003ernu003cpu003eu003c!– \/wp:list –u003eu003c\/pu003e”,”reviewed”:true,”disabled”:false,”autoGenerate”:false,”__typename”:”AISummary”},”audioArticleSettings”:{“audioUrl”:”https:\/\/eleven-public-cdn.elevenlabs.io\/audio-native\/a24c95b71e45d877e2798ceb32ef0ff8b1d79dced18bffc58f5b3a0c6e8468ac\/JyYfgpNzcfgfkcKELBf0\/JyYfgpNzcfgfkcKELBf0.mp3″,”__typename”:”AudioArticleSettings”},”mainArt”:{“mediaType”:”image”,”image”:{“node”:{“sourceUrl”:”\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1400×933.jpg”,”srcSet”:”\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1400×933.jpg 1400w, \/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-300×200.jpg 300w, \/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-700×467.jpg 700w, \/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-200×133.jpg 200w, \/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-768×512.jpg 768w, \/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1024×683.jpg 1024w, \/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-50×33.jpg 50w, \/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eLerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8u0026#8230;u003c\/pu003en”,”altText”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway”,”__typename”:”MediaItem”},”__typename”:”AcfMediaItemConnectionEdge”},”video”:null,”caption”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway (Getty, Jim Lippman, Berkadia Apartments)”,”__typename”:”MainArt”},”featuredImage”:{“node”:{“sourceUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1400×933.jpg”,”srcSet”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1400×933.jpg 1400w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-300×200.jpg 300w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-700×467.jpg 700w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-200×133.jpg 200w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-768×512.jpg 768w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1024×683.jpg 1024w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-50×33.jpg 50w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eLerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8u0026#8230;u003c\/pu003en”,”altText”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway”,”mediaDetails”:{“sizes”:[{“width”:”1400″,”height”:”933″,”__typename”:”MediaSize”}],”__typename”:”MediaDetails”},”__typename”:”MediaItem”},”__typename”:”NodeWithFeaturedImageToMediaItemConnectionEdge”},”__typename”:”Post”,”template”:{“templateValue”:”right-rail”,”__typename”:”DefaultTemplate”},”seo”:{“title”:”Kendall Apartment Project Sells For $42M Discount”,”fullHead”:”u003c!– This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v26.1.1) – https:\/\/yoast.com\/wordpress\/plugins\/seo\/ –u003enu003cmeta name=”description” content=”The billionaire family that owns the Washington Nationals sold a multifamily project in Kendall for a deep discount.” \/u003enu003cmeta name=”robots” content=”index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1″ \/u003enu003clink rel=”canonical” href=”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/” \/u003enu003cmeta property=”og:locale” content=”en_US” \/u003enu003cmeta property=”og:type” content=”article” \/u003enu003cmeta property=”og:title” content=”Strike out! Washington Nationals owner sells Kendall apartment project at $42M loss” \/u003enu003cmeta property=”og:description” content=”The billionaire family that owns the Washington Nationals sold a multifamily project in Kendall for a deep discount.” \/u003enu003cmeta property=”og:url” content=”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/” \/u003enu003cmeta property=”og:site_name” content=”The Real Deal” \/u003enu003cmeta property=”article:publisher” content=”https:\/\/www.facebook.com\/therealdealmedia\/” \/u003enu003cmeta property=”article:published_time” content=”2025-11-13T20:50:44+00:00″ \/u003enu003cmeta property=”article:modified_time” content=”2025-11-13T20:54:53+00:00″ \/u003enu003cmeta property=”og:image” content=”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount.jpg” \/u003entu003cmeta property=”og:image:width” content=”1500″ \/u003entu003cmeta property=”og:image:height” content=”1000″ \/u003entu003cmeta property=”og:image:type” content=”image\/jpeg” \/u003enu003cmeta name=”author” content=”Francisco Alvarado” \/u003enu003cmeta name=”twitter:card” content=”summary_large_image” \/u003enu003cmeta name=”twitter:description” content=”The billionaire family that owns the Washington Nationals struck out in the Kendall multifamily submarket.\u00a0 An affiliate of Rockville, Maryland-based Lerner Residential sold Motion at Dadeland, a 25-story tower with 295 apartments at 8400 South Dixie Highway for $72.4 million, records and real estate database Vizzda show. The buyer, an affiliate of Los Angeles-based JRK Property Holdings, led by Jay Lippman, paid $41.6 million below the previous sale price four years ago.u0026nbsp; Berkadia\u2019s Jaret Turkell and Omar Morales brokered the deal. JRK paid roughly $245,424 per apartment.u0026nbsp; As part of the deal, JRK assumed an existing $57.8 million commercial securities [u0026hellip;]” \/u003enu003cmeta name=”twitter:creator” content=”@trdny” \/u003enu003cmeta name=”twitter:site” content=”@trdny” \/u003enu003cmeta name=”twitter:label1″ content=”Written by” \/u003entu003cmeta name=”twitter:data1″ content=”Kevin Rebong” \/u003entu003cmeta name=”twitter:label2″ content=”Est. reading time” \/u003entu003cmeta name=”twitter:data2″ content=”2 minutes” \/u003enu003cscript type=”application\/ld+json” class=”yoast-schema-graph”u003e{“@context”:”https:\/\/schema.org”,”@graph”:[{“@type”:”NewsArticle”,”@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/#article”,”isPartOf”:{“@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/”},”author”:[{“@type”:”Person”,”@id”:”https:\/\/therealdeal.com\/#\/schema\/person\/c342492cb602b1402a4b81a39a649189″,”name”:”Francisco Alvarado”,”image”:{“@type”:”ImageObject”,”url”:”https:\/\/secure.gravatar.com\/avatar\/58bf558fa1cff3d248000861c757c544faefedc8437b304b647cc4ec6ac7440e?s=96u0026#038;d=mmu0026#038;r=g”},”url”:”https:\/\/therealdeal.com\/author\/francisco-alvarado\/”}],”headline”:”Strike out! Washington Nationals owner sells Kendall apartment project at $42M loss”,”datePublished”:”2025-11-13T20:50:44+00:00″,”dateModified”:”2025-11-13T20:54:53+00:00″,”mainEntityOfPage”:{“@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/”},”wordCount”:331,”publisher”:{“@id”:”https:\/\/therealdeal.com\/#organization”},”image”:[{“@type”:”ImageObject”,”url”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-300×200.jpg”,”width”:300,”height”:200,”contentUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-300×200.jpg”,”caption”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway (Getty, Jim Lippman, Berkadia Apartments)”,”creditText”:”The Real Deal”,”creator”:{“id”:”https:\/\/therealdeal.com\/#organization”}},{“@type”:”ImageObject”,”url”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-700×467.jpg”,”width”:700,”height”:467,”contentUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-700×467.jpg”,”caption”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway (Getty, Jim Lippman, Berkadia Apartments)”,”creditText”:”The Real Deal”,”creator”:{“id”:”https:\/\/therealdeal.com\/#organization”}},{“@type”:”ImageObject”,”url”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-200×133.jpg”,”width”:200,”height”:133,”contentUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-200×133.jpg”,”caption”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway (Getty, Jim Lippman, Berkadia Apartments)”,”creditText”:”The Real Deal”,”creator”:{“id”:”https:\/\/therealdeal.com\/#organization”}},{“@type”:”ImageObject”,”url”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-768×512.jpg”,”width”:768,”height”:512,”contentUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-768×512.jpg”,”caption”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway (Getty, Jim Lippman, Berkadia Apartments)”,”creditText”:”The Real Deal”,”creator”:{“id”:”https:\/\/therealdeal.com\/#organization”}},{“@type”:”ImageObject”,”url”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1024×683.jpg”,”width”:1024,”height”:683,”contentUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1024×683.jpg”,”caption”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway (Getty, Jim Lippman, Berkadia Apartments)”,”creditText”:”The Real Deal”,”creator”:{“id”:”https:\/\/therealdeal.com\/#organization”}},{“@type”:”ImageObject”,”url”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1400×933.jpg”,”width”:1400,”height”:933,”contentUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-1400×933.jpg”,”caption”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway (Getty, Jim Lippman, Berkadia Apartments)”,”creditText”:”The Real Deal”,”creator”:{“id”:”https:\/\/therealdeal.com\/#organization”}},{“@type”:”ImageObject”,”url”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-50×33.jpg”,”width”:50,”height”:33,”contentUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-50×33.jpg”,”caption”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway (Getty, Jim Lippman, Berkadia Apartments)”,”creditText”:”The Real Deal”,”creator”:{“id”:”https:\/\/therealdeal.com\/#organization”}}],”thumbnailUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount.jpg”,”articleSection”:[“Commercial”],”inLanguage”:”en-US”,”description”:”The billionaire family that owns the Washington Nationals struck out in the Kendall multifamily submarket.\u00a0 An affiliate of Rockville, Maryland-based Lerner Residential sold Motion at Dadeland, a 25-story tower with 295 apartments at 8400 South Dixie Highway for $72.4 million, records and real estate database Vizzda show. The buyer, an affiliate of Los Angeles-based JRK Property Holdings, led by Jay Lippman, paid $41.6 million below the previous sale price four years ago.u0026nbsp; Berkadia\u2019s Jaret Turkell and Omar Morales brokered the deal. JRK paid roughly $245,424 per apartment.u0026nbsp; As part of the deal, JRK assumed an existing $57.8 million commercial securities [u0026hellip;]”,”isAccessibleForFree”:”false”,”hasPart”:{“@type”:”WebPageElement”,”isAccessibleForFree”:”false”,”cssSelector”:”#the-content”},”copyrightHolder”:{“@id”:”https:\/\/therealdeal.com\/#organization”,”name”:”The Real Deal”},”copyrightYear”:”2025″,”alternativeHeadline”:”Lerner Residential sold 25-story, 294-unit Motion at Dadeland for $72M to JRK Property Holdings”,”backstory”:{“@type”:”CreativeWork”,”text”:”The billionaire family that owns the Washington Nationals struck out in the Kendall multifamily submarket.\u00a0 An affiliate of Rockville, Maryland-based Lerner Residential sold Motion at Dadeland, a 25-story tower with 295 apartments at 8400 South Dixie Highway for $72.4 million, records and real estate database Vizzda show. The buyer, an affiliate of Los Angeles-based JRK Property Holdings, led by Jay Lippman, paid $41.6 million below the previous sale price four years ago.u0026nbsp; Berkadia\u2019s Jaret Turkell and Omar Morales brokered the deal. JRK paid roughly $245,424 per apartment.u0026nbsp; As part of the deal, JRK assumed an existing $57.8 million commercial securities [u0026hellip;]”},”speakable”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/#the-content”,”contentLocation”:{“@type”:”Place”,”name”:”South Florida”,”url”:”https:\/\/therealdeal.com\/miami\/”},”keywords”:[“Real Estate”,”South Florida Real Estate”,”South Florida”,”Commercial”],”audio”:{“@type”:”AudioObject”,”contentUrl”:”https:\/\/eleven-public-cdn.elevenlabs.io\/audio-native\/a24c95b71e45d877e2798ceb32ef0ff8b1d79dced18bffc58f5b3a0c6e8468ac\/JyYfgpNzcfgfkcKELBf0\/JyYfgpNzcfgfkcKELBf0.mp3″}},{“@type”:”WebPage”,”@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/”,”url”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/”,”name”:”Kendall Apartment Project Sells For $42M Discount”,”isPartOf”:{“@id”:”https:\/\/therealdeal.com\/#website”},”primaryImageOfPage”:{“@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/#primaryimage”},”image”:{“@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/#primaryimage”},”thumbnailUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount.jpg”,”datePublished”:”2025-11-13T20:50:44+00:00″,”dateModified”:”2025-11-13T20:54:53+00:00″,”description”:”The billionaire family that owns the Washington Nationals sold a multifamily project in Kendall for a deep discount.”,”breadcrumb”:{“@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/#breadcrumb”},”inLanguage”:”en-US”,”potentialAction”:[{“@type”:”ReadAction”,”target”:[“https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/”]}]},{“@type”:”ImageObject”,”inLanguage”:”en-US”,”@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/#primaryimage”,”url”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount.jpg”,”contentUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount.jpg”,”width”:1500,”height”:1000,”caption”:”Lerner Enterprises\u2019 Mark Lerner, JRK Property Holdings CEO Jim Lippman and Motion at Dadeland at 8400 South Dixie Highway (Getty, Jim Lippman, Berkadia Apartments)”},{“@type”:”BreadcrumbList”,”@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/#breadcrumb”,”itemListElement”:[{“@type”:”ListItem”,”position”:1,”name”:”Home”,”item”:”https:\/\/therealdeal.com\/”},{“@type”:”ListItem”,”position”:2,”name”:”South Florida”,”item”:”https:\/\/therealdeal.com\/miami\/”},{“@type”:”ListItem”,”position”:3,”name”:”Strike out! Washington Nationals owner sells Kendall apartment project at $42M loss”}]},{“@type”:”WebSite”,”@id”:”https:\/\/therealdeal.com\/#website”,”url”:”https:\/\/therealdeal.com\/”,”name”:”The Real Deal”,”description”:”Real Estate News”,”publisher”:{“@id”:”https:\/\/therealdeal.com\/#organization”},”alternateName”:”TRD”,”potentialAction”:[{“@type”:”SearchAction”,”target”:{“@type”:”EntryPoint”,”urlTemplate”:”https:\/\/therealdeal.com\/?s={search_term_string}”},”query-input”:{“@type”:”PropertyValueSpecification”,”valueRequired”:true,”valueName”:”search_term_string”}}],”inLanguage”:”en-US”},{“@type”:”Organization”,”@id”:”https:\/\/therealdeal.com\/#organization”,”name”:”The Real Deal”,”alternateName”:”TRD”,”url”:”https:\/\/therealdeal.com\/”,”logo”:{“@type”:”ImageObject”,”inLanguage”:”en-US”,”@id”:”https:\/\/therealdeal.com\/#\/schema\/logo\/image\/”,”url”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2017\/10\/LOGO-VECTOR-TRDsolo.png”,”contentUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2017\/10\/LOGO-VECTOR-TRDsolo.png”,”width”:279,”height”:279,”caption”:”The Real Deal”},”image”:{“@id”:”https:\/\/therealdeal.com\/#\/schema\/logo\/image\/”},”sameAs”:[“https:\/\/www.facebook.com\/therealdealmedia\/”,”https:\/\/x.com\/trdny”,”https:\/\/www.instagram.com\/therealdeal\/”,”https:\/\/www.linkedin.com\/company\/therealdeal\/”,”https:\/\/www.youtube.com\/TheRealDealMagazineNewYork\/”,”https:\/\/en.wikipedia.org\/wiki\/The_Real_Deal_magazine”],”description”:”The Real Deal is the leading real estate news outlet read by millions of professionals and investors daily. Widely recognized as the must-read news outlet for breaking news and market analysis of key markets across the U.S. Quantcast ranks The Real Deal as one of the 300 most visited websites in the US, and the #1 website with the wealthiest audience.”,”email”:”news@therealdeal.com”,”telephone”:”2122601332″,”legalName”:”Korangy Publishing Inc.”,”foundingDate”:”2003-07-01″,”duns”:”168246549″,”numberOfEmployees”:{“@type”:”QuantitativeValue”,”minValue”:”201″,”maxValue”:”500″}}]}u003c\/scriptu003enu003cmeta name=”article:section” content=”South Florida” \/u003enu003cmeta name=”article:tag” content=”South Florida,Commercial” \/u003enu003cmeta name=”date” content=”2025-11-13″ \/u003enu003cmeta name=”keywords” content=”Kendall project sells at discount” \/u003enu003cmeta name=”news_keywords” content=”Kendall project sells at discount” \/u003enu003clink rel=”alternate” type=”application\/rss+xml” href=”https:\/\/therealdeal.com\/miami\/feed\/” \/u003enu003cmeta name=”region” content=”South Florida” \/u003enu003clink rel=”alternate” type=”application\/rss+xml” href=”https:\/\/therealdeal.com\/sector\/commercial\/feed\/” \/u003enu003cmeta name=”sailthru.image.thumb” content=”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-50×33.jpg” \/u003enu003cmeta name=”sailthru.image.full” content=”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-700×467.jpg” \/u003enu003cmeta name=”sailthru.title” content=”Strike out! Washington Nationals owner sells Kendall apartment project at $42M loss” \/u003enu003cmeta name=”sailthru.date” content=”2025-11-13″ \/u003enu003cmeta name=”sailthru.author” content=”Francisco Alvarado” \/u003enu003cmeta name=”sailthru.tags” content=”South Florida,Commercial” \/u003enu003cmeta name=”parsely-title” content=”Strike out! Washington Nationals owner sells Kendall apartment project at $42M loss” \/u003enu003cmeta name=”parsely-link” content=”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/kendall-apartment-project-sells-for-42m-discount\/” \/u003enu003cmeta name=”parsely-image-url” content=”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/Kendall-Apartment-Project-Sells-For-42M-Discount-300×200.jpg” \/u003enu003cmeta name=”parsely-type” content=”post” \/u003enu003cmeta name=”parsely-pub-date” content=”2025-11-13T15:50:44-05:00″ \/u003enu003cmeta name=”parsely-section” content=”South Florida” \/u003enu003cmeta name=”parsely-tags” content=”South Florida,Commercial” \/u003enu003cmeta name=”parsely-author” content=”Francisco Alvarado” \/u003enu003c!– \/ Yoast SEO Premium plugin. –u003e”,”__typename”:”PostTypeSEO”},”bylineInformation”:{“authors”:[{“id”:”dXNlcjoxNjg4″,”name”:”Francisco Alvarado”,”uri”:”https:\/\/therealdeal.com\/author\/francisco-alvarado\/”,”__typename”:”User”}],”researchers”:null,”__typename”:”BylineInformation”},”markets”:{“nodes”:[{“id”:”dGVybTo5NTc0″,”name”:”South Florida”,”uri”:”https:\/\/therealdeal.com\/miami\/”,”__typename”:”Market”}],”__typename”:”PostToMarketConnection”},”primaryMarket”:{“id”:”dGVybTo5NTc0″,”name”:”South Florida”,”uri”:”https:\/\/therealdeal.com\/miami\/”,”__typename”:”Market”},”sectors”:{“nodes”:[{“id”:”dGVybToyNzk0Mg==”,”name”:”Commercial”,”uri”:”https:\/\/therealdeal.com\/sector\/commercial\/”,”__typename”:”Sector”}],”__typename”:”PostToSectorConnection”},”primarySector”:{“id”:”dGVybToyNzk0Mg==”,”name”:”Commercial”,”uri”:”https:\/\/therealdeal.com\/sector\/commercial\/”,”__typename”:”Sector”},”tags”:{“nodes”:[{“id”:”dGVybTozMTM1MA==”,”name”:”Apartment complex”,”uri”:”https:\/\/therealdeal.com\/tag\/apartment-complex\/”,”__typename”:”Tag”},{“id”:”dGVybTo5NjEz”,”name”:”Commercial Real Estate”,”uri”:”https:\/\/therealdeal.com\/tag\/commercial-real-estate\/”,”__typename”:”Tag”},{“id”:”dGVybTozMzE1NA==”,”name”:”loan”,”uri”:”https:\/\/therealdeal.com\/tag\/loan\/”,”__typename”:”Tag”},{“id”:”dGVybToxMTMzOQ==”,”name”:”Mortgage”,”uri”:”https:\/\/therealdeal.com\/tag\/mortgage\/”,”__typename”:”Tag”},{“id”:”dGVybToyNTk1Nw==”,”name”:”Multifamily Market”,”uri”:”https:\/\/therealdeal.com\/tag\/multifamily-market\/”,”__typename”:”Tag”},{“id”:”dGVybTozNzc3OQ==”,”name”:”Property sale”,”uri”:”https:\/\/therealdeal.com\/tag\/property-sale\/”,”__typename”:”Tag”},{“id”:”dGVybToxMDczNA==”,”name”:”Real Estate Investment”,”uri”:”https:\/\/therealdeal.com\/tag\/real-estate-investment\/”,”__typename”:”Tag”}],”__typename”:”PostToTagConnection”},”companies”:{“nodes”:[{“id”:”dGVybTo2MDEwNA==”,”name”:”13th Floor Investments”,”uri”:”https:\/\/therealdeal.com\/company\/13th-floor-investments\/”,”__typename”:”Company”},{“id”:”dGVybTo0MDc0OA==”,”name”:”Barings”,”uri”:”https:\/\/therealdeal.com\/company\/barings\/”,”__typename”:”Company”},{“id”:”dGVybToyOTU0OQ==”,”name”:”Berkadia”,”uri”:”https:\/\/therealdeal.com\/company\/berkadia\/”,”__typename”:”Company”},{“id”:”dGVybTo0NzI2MA==”,”name”:”JRK Property Holdings”,”uri”:”https:\/\/therealdeal.com\/company\/jrk-property-holdings\/”,”__typename”:”Company”}],”__typename”:”PostToCompanyConnection”},”people”:{“nodes”:[],”__typename”:”PostToPersonConnection”},”storyTypes”:{“nodes”:[{“name”:”News”,”__typename”:”StoryType”}],”__typename”:”PostToStoryTypeConnection”}}},”__N_SSG”:true},”page”:”\/[firstLevel]\/[secondLevel]\/[thirdLevel]\/[fourthLevel]\/[fifthLevel]”,”query”:{“firstLevel”:”miami”,”secondLevel”:”2025″,”thirdLevel”:”11″,”fourthLevel”:”13″,”fifthLevel”:”kendall-apartment-project-sells-for-42m-discount”},”buildId”:”trd-news-25.11.10+226.1″,”isFallback”:false,”isExperimentalCompile”:false,”gsp”:true,”scriptLoader”:[{“async”:true,”defer”:true,”strategy”:”afterInteractive”,”src”:”https:\/\/www.queryly.com\/js\/queryly.v4.min.js”},{“async”:true,”defer”:true,”strategy”:”lazyOnload”,”src”:”https:\/\/www.queryly.com\/js\/therealdeal-advanced-search.js”},{“async”:true,”defer”:true,”strategy”:”lazyOnload”,”src”:”https:\/\/connect.facebook.net\/en_US\/sdk.js”}]}<\/p>\n

\n
\n

Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n