Axonic Pays $37M In Bulk Purchase Of Doral Condos

Axonic’s Clayton DeGiacinto and Jonathan Shechtman with 10000 Northwest 45th Terrace, Doral (Google Maps)
UPDATED, Jan. 12, 9 a.m.: Axonic Properties paid $37.3 million in a bulk purchase of 170 units of a 310-unit fractured Doral condo complex.
The New York-based firm, led by Clayton DeGiacinto and Jonathan Shechtman, bought the units at Valencia at Doral, at 10000 Northwest 45th Terrace, according to records.
The seller is an affiliate of Transcendent Investment Management, or TIM, based in Bay Harbor Islands and led by Jordan Kavana. The building was constructed in 1992.
The deal brings Axonic’s total ownership to at least 190 units, according to records. As a fractured condo project, only some of the individual units were sold by the initial developer. A Lennar affiliate had paid $67.9 million for the complex in 2006. In 2014, TIM paid Lennar $45 million for 204 units of the complex.

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